The Bangko Sentral ng Pilipinas (BSP) has announced a major milestone in the country’s financial landscape: digital payments in the Philippines have reached 50% of total retail transactions in 2025. This marks a significant leap from only 1% back in 2013, showcasing the country’s rapid transition towards a cash-lite economy.
According to the BSP, this achievement aligns with its Digital Payments Transformation Roadmap, which aims to create an inclusive digital finance ecosystem. In 2013, the BSP tracked merely 1% of retail payments as digital. That figure jumped to 20.1% by 2020, accelerated by the pandemic, and reached 42.1% by 2022. Now, the 2025 update confirms that one out of every two retail transactions is now digital.
Governor Eli M. Remolona Jr. emphasized that the country is on track toward the 70% account ownership target and the goal of converting 50% of total retail payments to digital forms. The governor cited expanded access to financial services through mobile phones, stronger internet connectivity, and collaborative efforts with banks and fintech companies as primary contributors to this transformation.
Digital payments in the Philippines are not only driving efficiency but also financial inclusion. Services such as QR Ph, InstaPay, and PESONet have played a pivotal role in reshaping how Filipinos pay, send, and receive money in their daily lives. The BSP continues to promote financial literacy and innovation to ensure that no one is left behind in the evolving financial ecosystem.
With this milestone, the Philippines positions itself among the top digital payment adopters in Southeast Asia—proving that a digital-first economy is no longer a dream, but a current reality.
