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Payment methods in Philippines
Here are the top takeaways you need to know about the Filippino e-commerce market:
- The Filippino e-commerce market is worth US$20 billion and is set to grow to US$33 billion by 2027.
- Over 60% of all e-commerce purchases in the Philippines are completed using a mobile device of some kind.
- Filipinos use cards in just 30% of all online transactions, paying for the rest with a variety of digital payment methods.
- Some of the most popular payment methods in the Philippines are Gcash, PayPal and a range of different bank-transfer apps.
- Each year, Filipinos buy more than US$2 billion worth of goods and services from merchants based overseas.
Population
Online Population
B2C E-commerce
Banked Population
Credit Card Population
E-commerce of Total Retail
Payment Method Breakdown
- Card 30%
- Cash 15%
- Bank Transfer 16%
- E-Wallet 33%
- Other 6%
[{"label":"Card","value":"30"},{"label":"Cash","value":"15"},{"label":"Bank Transfer","value":"16"},{"label":"E-Wallet","value":"33"},{"label":"Other","value":"6"}]
Payment Methods in Philippines
Card Scheme Breakdown
- Visa 18%
- Mastercard 20%
- American Express 3%
- Local schemes 58%
- Other 1%
[{"label":"Visa","value":"18"},{"label":"Mastercard","value":"20"},{"label":"American Express","value":"3"},{"label":"Local schemes","value":"58"},{"label":"Other","value":"1"}]
Cross-Border E-Commerce
54
Online shoppers who have shopped cross-border
33
Cross-border proportion of total e-commerce
2.2 bn
$US
Value of cross-border e-commerce
Top cross-border shopping origin markets