The e-commerce and payment market in the Philippines presents unique and dynamic characteristics:
Rapidly growing e-commerce market: - One of the fastest-growing e-commerce markets in Southeast Asia - Annual growth rate of 25% - Growth is mainly driven by high internet usage and mobile device penetration
Mobile-driven market: - E-commerce heavily relies on mobile devices - Reflects Filipino consumers' preference for mobile technology
Low credit card adoption: - One of the countries with the lowest credit card penetration rates in Southeast Asia - Traditional payment methods remain common
Rapid development of digital wallets: - Digital wallets are gaining recognition - GCash has reached 30 million users, a 33% increase from 2019
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Popular payment methods
GCash
GCash is commonly used for online to offline payments in PH.
- Payment type
- Online to Offline
- Buyer coverage
- PH
- Payment currency
- PHP
- Refund
- Partial refund
BPI
BPI is commonly used for digital wallets payments in PH.
- Payment type
- Digital Wallets
- Buyer coverage
- PH
- Payment currency
- PHP
- Refund
- Partial refund
Paymaya
Paymaya is commonly used for digital wallets payments in PH.
- Payment type
- Digital Wallets
- Buyer coverage
- PH
- Payment currency
- PHP
- Refund
- Partial refund
Payso
Payso is commonly used for digital wallets payments in PH.
- Payment type
- Digital Wallets
- Buyer coverage
- PH
- Payment currency
- PHP
- Refund
- Partial refund
BDO
BDO is commonly used for e-bank payments in PH.
- Payment type
- E-Bank
- Buyer coverage
- PH
- Payment currency
- PHP
- Refund
- Partial refund
RCBC
RCBC is commonly used for e-bank payments in PH.
- Payment type
- E-Bank
- Buyer coverage
- PH
- Payment currency
- PHP
- Refund
- Partial refund
UnionBank
UnionBank is commonly used for e-bank payments in PH.
- Payment type
- E-Bank
- Buyer coverage
- PH
- Payment currency
- PHP
- Refund
- Partial refund
Philippines
Country code
ph
Currency code
PHP
Currency unit
₱ PHP