Philippines hits digital payments goal –– BSP

MANILA, Philippines — Digital payments accounted for 64.7 percent of total retail payments in the Philippines in 2025, hitting the target of the Bangko Sentral ng Pilipinas (BSP).

The BSP stated on Monday that the latest figure increased from the 57.4 percent share recorded a year earlier, as consumers and businesses continued to shift toward faster electronic transactions.

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Likewise, the latest figure falls within the 60 percent to 70 percent target set under the Philippine Development Plan for 2023-2028, the central bank said.

Furthermore, data showed that digital payment accounts increased by 69.4 percent, and merchant locations or business outlets that accept digital payments rose by 36.3 percent, supporting the growth.

“The BSP continues to work closely with industry and government partners to expand digital payments to benefit more Filipinos and the economy as a whole,” BSP Governor Eli Remolona Jr. said.

In addition, Remolona attributed much of the growth to the central bank’s push for interoperability, which allows businesses and service providers to transact across a common digital payments infrastructure.

“A lot of the growth is due to our insistence on interoperability, ensuring that a growing number of businesses and service providers are on one system,” he said. /pai