Flexible payment options and potential rate cuts could further boost investor and end-user interest. (Visa.com.ph)
MANILA, Philippines — Filipinos are among the top users of digital payment services in Asia Pacific because of the speed and convenience they offer, according to a new report, helping drive financial inclusion in the country.
In its “Money Travels 2025 Report” released on Friday, payments giant Visa reported that 74 percent of Filipinos send money digitally, while 66 percent opt for digital means when receiving funds.
The findings were based on responses from 44,000 senders and receivers across 20 countries.
Visa said 73 percent of Filipino respondents considered digital payments as the fastest way to access funds, especially when unexpected needs arise.
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But fewer than half of consumers—roughly 45 percent—view them as a safe and private way to send or receive money.
The Bangko Sentral ng Pilipinas (BSP) has repeatedly warned that fear of fraud remains a major obstacle to building trust in the country’s e-payments system.
Even so, Jeffrey Navarro, country manager for Visa Philippines, said Filipinos were driving usage of digital remittances in the region.
“The Philippines accounts for more than 60 percent of total inbound remittance transactions in Asia Pacific, underscoring our robust position as a driver for regional remittance growth,” Navarro said.
Pain point
“The shift to digital remittances fosters greater financial inclusion, with more people and businesses able to access secure, regulated digital channels for managing and receiving money,” he added.
Official government data support this. The BSP reported that nearly three of every five retail payment transactions in the Philippines were done digitally in 2024, smashing the government’s target.
But Visa said more Filipinos were also frustrated by app fees, with 43 percent of senders and 30 percent of recipients citing them as a pain point—the highest levels in Asia Pacific, alongside India and Singapore.
For physical remittances, Filipinos again stood out, with 45 percent of senders and 29 percent of recipients pointing to high fees.
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On the bright side, every Filipino respondent 65 and older said they planned to send remittances digitally—the highest share of any age group. This, Visa said, highlights how even older consumers are embracing cashless transfers.
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“The shift in remittance trends reflect a broader change in consumer needs and preferences,” Navarro said. “Speed, security, and convenience are no longer optional—they are expected.” /rwd
