More Filipinos are using digital payment platforms as shown by the transaction records of electronic clearing houses run by the Bangko Sentral ng Pilipinas (BSP).
The value of transactions that went through InstaPay surged 50.8 percent to P841.11 billion in April from P557.62 billion a year earlier.
The transactions processed by InstaPay in April were 1.9 percent higher compared with P825.74 billion in March.
PESONet transactions, on the other hand, climbed 18.2 percent in value to P1.011 trillion in April from P855 billion a year earlier.
Compared with the PESONet transactions in March 2025, which amounted to P1.017 trillion, the transaction value in April was 0.6 percent lower.
InstaPay and PESONet are automated clearing houses that operate under the BSP’s National Retail Payment System.
Higher transaction volumes
By volume, the number of InstaPay transactions in April swelled by 189.6 percent to 297.7 million from 102.8 million a year earlier.
Month-on-month, InstaPay’s volume of transactions in April registered a 52.2 percent increase from 195.2 million in March 2025.
The volume of transactions processed by PESONet rose 7.6 percent to 8.9 million last April from 8.3 million a year earlier.
It was also 5.9 percent more than the 9.5 million transactions handled in March 2025.
InstaPay is an electronic fund transfer facility that handles single transactions of up to P50,000 in real time.
PESONet, on the other hand, can accommodate transactions that are higher in value than PESONet’s ceiling. It serves as the electronic alternative to the paper-based check payment system.
Strong momentum
The numbers show us the country’s shift toward a digital economy has gained momentum, John Paolo Rivera, senior research fellow from the Philippine Institute for Development Studies (PIDS), said.
This means the level of public trust in digital platforms, mobile and online banking, has gone up, Rivera said.
The trend reflects on the success of government and private sector initiatives toward financial inclusion, he added, saying these are “positives” for economic development in the long-run that encompasses the underserved members of the society in highly rural areas.
More convenience and flexibility
The shift from cashing and depositing checks over the counter to digital channels has widened because of their convenience and lower cost, Michael Ricafort, the chief economist from RCBC’s chief, said.
He saw that as an obvious indication that more Filipinos were using e-wallets that have been interfaced with digital banking app such as InstaPay and PesoNet.
“More flexibility anytime and from anywhere around the world through mobile phone or online banking apps,” Ricafort added.
