The Philippines continues to make headway in digital payments.

The share of digital payments to total monthly retail transactions rose to 57.4 percent in terms of volume and 59.0 percent in terms of value, the Bangko Sentral ng Pilipinas (BSP) disclosed in its 2024 Report on the Status of Digital Payments in the Philippines.

These are up from 52.8 percent and 55.3 percent, respectively, in 2023. This steady year-on-year growth reinforces the momentum built after surpassing the 2023 digitalization target of 50 percent for volume. The Philippines continues to make headway in digital payments.

The share of digital payments to total monthly retail transactions rose to 57.4 percent in terms of volume and 59.0 percent in terms of value, the Bangko Sentral ng Pilipinas (BSP) disclosed in its 2024 Report on the Status of Digital Payments in the Philippines. These are up from 52.8 percent and 55.3 percent, respectively, in 2023.

This steady year-on-year growth reinforces the momentum built after surpassing the 2023 digitalization target of 50 percent for volume. Bangko Sentral ng Pilipinas