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Philippines Cards and Payments: Opportunities and Risks to 2029

Publisher GlobalData
Published Dec 17, 2025
Length 87 Pages
SKU # GBDT20698347

Description

Philippines Cards and Payments: Opportunities and Risks to 2029

Summary

GlobalData’s ‘Philippines Cards and Payments: Opportunities and Risks to 2029' report provides detailed analysis of market trends in the Filipinos cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, card, credit transfer, direct debits, and cheques during the review-period (2021-25e).The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2025e-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘Philippines Cards and Payments: Opportunities and Risks to 2029' report provides top-level market analysis, information and insights into the Filipinos cards and payments industry, including -
  • Current and forecast values for each market in the Filipinos cards and payments industry, including debit, credit and charge cards.
  • Detailed insights into payment instruments including cash, card, credit transfer,and cheques. It also, includes an overview of the country's key alternative payment instruments.
  • Ecommerce market analysis.
  • Analysis of various market drivers and regulations governing the Filipinos cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit, credit and charge cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of the Filipinos cards and payments industry.
Key Highlights
  • The Philippines is poised for growth in contactless payment solutions, particularly with their increasing integration into public transportation. Following the February 2024 partnership between Mastercard and AF Payments (Beep’s parent company), contactless card payments were introduced on Bonifacio Transport Corporation (BGC) buses in the City of Taguig in November 2024. To pay for tickets, card holders simply tap their cards on BGC bus validators; eliminating the need to buy separate tickets. Contactless cards will further add to the existing payment options on BCG buses, including beep cards and QR code options.
  • The BSP and the Department of the Interior and Local Government are pushing for expanded cashless transactions across Local Government Units (LGUs) through the Paleng-QR Ph program. In April 2025, Joint Memorandum Circular 1-2022 mandated LGUs to facilitate QR-code payments in public markets and transport; requiring vendors and operators to display QR codes to receive payments electronically. Participating establishments will feature Paleng-QR Ph signage. LGUs, in collaboration with financial service providers, will assist small businesses and individuals in opening QR Ph-compatible accounts.
  • The dominance of GCash in in-store payments demonstrates a significant shift in customer behavior and the expansion of the retail industry. This prominent position raises several noteworthy matters, such as the widespread adoption of digital wallets and the convenience offered by them. For instance, in August 2025, Healthway Medical Network partnered with the payment company Fuse Financing, the lending arm of GCash, to offer the Test Now, Pay Later service to Healthway customers. This arrangement enables customers to access instant loans for medical expenses, with 0% interest for the first two months. Meanwhile, Apple Pay is expected to be launched in the Philippines in 2026.
Scope
  • Card market size in terms of number of cards, value and volume of transactions in the Philippines along with detailed card segmentation of debit, credit and charge cards available in the country.
  • Market sizing and analysis of major payment instruments including cash, card, credit transfer, and cheques.
  • Payment market trends and growth for both historical and forecast period
  • Competitor analysis with detailed insights into leading card issuers and schemes.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • A detailed snapshot of country's key alternative payment brands.
Reasons to Buy
  • Make strategic business decisions, using top-level historic and forecast market data, related to the Filipinos cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Filipinos cards and payments industry.
  • Assess the competitive dynamics in the Filipino cards and payments industry.
  • Gain insights into marketing strategies used for various card types in the Philippines.
  • Gain insights into key regulations governing the Filipino cards and payments industry.

Table of Contents

87 Pages
1. Executive Summary
2. Market Overview
3. Payment Instruments
4. Card-Based Payments
5. Ecommerce Payments
6. In-Store Payments
7. Buy Now Pay Later
8. Digital Wallet Payments
9. P2P Payments
10. Bill Payments
11. Alternative Payments
12. Payment Innovation
13. Job Analysis
14. Payment Infrastructure and Regulation
15. Appendix
List of Tables
Key facts, 2025e
Benchmarking of payment cards, 2025e
Payment instrument transaction values (LCU), 2021-29f
Payment instrument transaction values ($), 2021-29f
Payment instrument transaction volumes (units), 2021-29f
Payment cards in circulation by type (units), 2021-29f
Volume of payment card transactions (units), 2021-29f
Value of payment card transactions (LCU), 2021-29f
Value of payment card transactions ($), 2021-29f
Debit cards in circulation (units), 2021-29f
Debit card transaction volumes, 2021-29f
Debit card transaction values (LCU), 2021-29f
Debit card transaction values ($), 2021-29f
Debit cards in circulation by scheme (units), 2021-25e
Debit card transaction values by scheme (LCU), 2021-25e
Debit card transaction values by scheme ($), 2021-25e
Debit cards in circulation by issuer (units), 2021-25e
Debit cards transaction value by issuer (LCU), 2021-25e
Debit cards transaction value by issuer ($), 2021-25e
Credit and charge cards in circulation (units), 2021-29f
Credit and charge card transaction volumes, 2021-29f
Credit and charge card transaction values (LCU), 2021-29f
Credit and charge card transaction values ($), 2021-29f
Credit and charge cards in circulation by scheme (units), 2021-25e
Credit and charge card transaction values by scheme (LCU), 2021-25e
Credit and charge card transaction values by scheme ($), 2021-25e
Credit and charge cards in circulation by issuer (units), 2021-25e
Credit and charge cards transaction value by issuer (LCU), 2021-25e
Credit and charge cards transaction value by issuer ($), 2021-25e
Credit cards in circulation (units), 2021-29f
Credit card transaction volumes, 2021-29f
Credit card transaction values (LCU), 2021-29f
Credit card transaction values ($), 2021-29f
Credit cards in circulation by scheme (units), 2021-25e
Credit card transaction values by scheme (LCU), 2021-25e
Credit card transaction values by scheme ($), 2021-25e
Credit cards in circulation by issuer (units), 2021-25e
Credit cards transaction value by issuer (LCU), 2021-25e
Credit cards transaction value by issuer ($), 2021-25e
Charge cards in circulation (units), 2021-29f
Charge card transaction volumes, 2021-29f
Charge card transaction values (LCU), 2021-29f
Charge card transaction values ($), 2021-29f
Charge cards in circulation by scheme (units), 2021-25e
Charge card transaction values by scheme (units), 2021-25e
Charge card transaction values by scheme ($), 2021-25e
Prepaid cards in circulation (millions), 2021-29e
Prepaid card transaction values (LCU), 2021-29e
Prepaid card transaction values ($), 2021-29e
List of Figures
Inflation rate
GDP growth rate
Payment instruments transaction value and volume
Instant payments transaction value and volume
Card penetration
Card payments by value
Debit card frequency of payments and average transaction value
Debit card schemes transaction value and volume
Debit card issuers by number of cards and transaction value
Credit card frequency of payments and average transaction value
Credit card schemes transaction value and volume
Credit card issuers by number of cards and transaction value
Credit card debt
Prepaid Cards: Market Sizing and Forecasting
Contactless card holding and usage in detail
E-commerce transaction value and ecommerce breakdown by mobile vs. desktop/laptop
Ecommerce market by product and services
Ecommerce market by paymnet tools
Factors driving in-store payments and In-store transaction value by payment method
In-store transaction value by products and services
BNPL service used in the last six months and Preferred BNPL brand/tool for in-store payments
BNPL online transaction value and transaction volume
BNPL share of overall ecommerce transaction value and preferred BNPL brand/tool for online payments
Mobile wallet holding and use by demographic
Mobile wallet funding methods, mobile wallet preference by product/service and mobile wallet ownership by brand
Domestic and international P2P money transfers
Paymnet tool preference for bill payment and bill paymnet frequency
Active jobs intensity in the country
Number of POS terminals and ATMs

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