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Project International Trade's Virtual Toolkit to Asia​

Philippines

Why Philippines?

The Philippines is the 13th largest country in the world by population (more than 109 million) and is the sixth-largest English-speaking country. Beyond this, it has one of the youngest populations in the world, with about 43% of the population under the age of 20. Since January of this year, 73.9m use the internet and 82.3m have a mobile phone.

In fact, the Philippines was one of the first nations in the world to make the move to digital payments (with the launch of mobile money in 2001). Yet, despite the country’s booming eCommerce market, which has an annual growth rate of 14.64%, and is projected to hit a market volume of US$8.8bn by 2025, Filipinos overwhelmingly prefer to use cash in 80% of e-commerce transactions and 71% of eligible adults remain unbankedRead More

"The Philippine economy remains ripe for disruption and fintechs are starting to play a transformative role, notably the rapidly growing adoption of the emerging QR codes for digital transactions."
Tom Brewin
Payments Association Projects Manager

Key information you need to know

Click on the icons below to view the resources in each section

Hear some insights from global industry players

  • How has the payments industry developed in Philippines?
  • What do you see as the real growth areas in Philippines going forward?
  • What are the challenges and barriers to entering the Philippines market for new players?

Useful contacts

John Ryan

Director of Policy
The Payments Association Asia

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