Digital payment transactions via PESONet and InstaPay increased by over 34 percent to ₱1.65 trillion in Febraury from ₱1.23 trillion in the same month last year.

This is equivalent to a ₱420 billion increase from February 2024, according to the Bangko Sentral ng Pilipinas (BSP) data.

However, the February transactions coursed through the two automated clearing houses declined by more than eight percent from January’s ₱1.80 trillion.

Meanwhile, the combined volume of transactions through InstaPay and PESONet increased annually and monthly.

The recorded number of transactions was over 165 million, up from nearly 101 million a year ago. This translates to an over 64-million addition or nearly 64 percent. 

It likewise increased by five million or more than three percent from over 160 million transactions in January 2025.

The value of PESONet transactions climbed by nearly 27 percent year over year to ₱933.1 billion in February from ₱735.1 billion a year earlier. However, it slid by over 11 percent from ₱1.05 trillion posted a month earlier.

The volume of transactions that went through the payment gateway also rose by over 15 percent to nine million from 7.8 million in the same period a year ago. It decreased by over six percent from the previous month.

Meanwhile, the value of transactions done through InstaPay jumped by nearly 44 percent to ₱712.9 billion from ₱496.3 billion in the previous year. This equates to a roughly ₱217-billion increase.

This, however, decreased by over five percent from ₱750.6 billion in January.

As for the number of InstaPay transactions, the February figure stood at 156.2 million, higher by nearly 68 percent from 93.1 million a year earlier. 

It likewise posted a nearly four-percent increase from 150.6 million in January.

PESONet and InstaPay are automated clearing houses introduced in December 2015 as part of the BSP’s National Retail Payment System framework.

PESONet handles high-value transactions and serves as an electronic alternative to paper checks.

InstaPay, meanwhile, is a real-time electronic fund transfer service for low-value transactions up to ₱50,000, commonly used for remittances and e-commerce.

“The continued strong growth in InstaPay and PESONet transactions could reflect the continued strong growth in the country’s online business transactions or commerce that require reliable and credible digital payment systems, especially for large peso amounts,” said Michael Ricafort, chief economist at Rizal Commercial Banking Corp. (RCBC).

“This may also reflect the increased use of e-wallets by Filipinos that are also interconnected with the banking system, electronically though InstaPay and PESONet,” Ricafort further said.