Filipinos increasingly turned to cashless transactions in 2025, with payments through InstaPay and PESONet surpassing P24 trillion, highlighting the country’s shift toward digital finance.
Data from the Bangko Sentral ng Pilipinas (BSP) showed a 42-percent increase in the combined value of transactions compared with 2024, reaching P24.7 trillion.
Transaction volumes also surged, with nearly 4.8 billion transfers completed, marking a year-on-year jump of 217 percent.
InstaPay, a real-time system for payments of up to P50,000, accounted for P11.6 trillion in 2025, with 4.7 billion transactions, supporting e-commerce, toll and ticket payments, and micro, small, and medium enterprises.
PESONet, designed for high-value transfers as an electronic alternative to paper checks, processed P13.1 trillion in funds across 117.2 million transactions, up 31 percent and 16 percent, respectively, from 2024.
By last year, digital payments made up more than half of all retail transactions, with 57.4 percent of payments completed electronically, surpassing government targets, while government transfers were nearly fully digital at 97.2 percent.
Looking ahead, the BSP aims to digitalize 60 to 70 percent of retail transactions by 2028, with plans to lower transaction costs and enhance anti-fraud measures to build trust among users.
