Digital payment transactions in the Philippines surged to nearly ₱25 trillion last year, as the volume of electronic fund transfers more than tripled, a fundamental shift in how consumers and businesses navigate the post-pandemic economy.

According to the latest data from the Bangko Sentral ng Pilipinas (BSP), combined transactions through the PESONet and InstaPay clearing houses reached ₱24.74 trillion in January to December 2025, a 42 percent increase from the ₱17.42 trillion recorded in 2024.

The total volume of these transactions skyrocketed to 4.8 billion from 1.5 billion a year earlier, representing a 216.7 percent jump as e-commerce activity intensified across the archipelago.

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

While PESONet is positioned as a high-value electronic alternative to traditional paper checks, InstaPay facilitates real-time transfers for smaller amounts, typically capped at ₱50,000, making it a staple for retail remittances and online shopping.

PESONet transactions rose 30.9 percent by value to ₱13.19 trillion in 2025, from ₱10.08 trillion the previous year. The platform also posted 16.1 percent increase in volume, processing 117.2 million transfers compared with 100.9 million in 2024.

Growth was even more pronounced for InstaPay, where the value of transactions climbed 57.3 percent to ₱11.553 trillion. The sheer scale of adoption was evident in its transaction volume, which more than tripled to 4.7 billion transfers from 1.4 billion. This surge signals the increasing reliance on real-time settlement for daily commercial activities.

The momentum peaked in December, a month typically characterized by heavy holiday spending and remittance inflows. Monthly fund transfers across both platforms hit ₱2.69 trillion, nearly 50 percent higher than the ₱1.8 trillion recorded in December 2024.

Total volume for the month alone surpassed 708 million transactions, a fourfold increase over the prior year.

Digital payments have effectively become the default for Filipinos, according to Jonathan Ravelas, senior adviser at Reyes Tacandong & Co.

Ravelas noted that the trend is driven by a preference for speed and safety over traditional cash-based methods.

“People and businesses are choosing them because they’re simply faster, cheaper, and safer—a trend backed by consistent year‑on‑year growth in e‑payments,” Ravelas said.

He suggested that the massive increase in activity is not merely a matter of convenience but a signal of deeper financial inclusion, as a larger segment of the population integrates into formal digital channels.

This shift, he added, indicates that digital infrastructure has become central to the functioning of the Philippine economy.