Most used in-store (POS) payment methods in Philippines 2017-2023, with 2027 forecast
GCash and PayMaya are forecast to have millions more users in the Philippines than Asian superapp GrabPay or PayPal come 2025.
The share of cash in Filipino POS payments fell below 50 percent, as consumers increasingly preferred cards and wallets. The use of paper money and coins was significant before the COVID-19 pandemic: In 2019, almost seven out of 10 in-store transactions involved cash. Since then, however, mobile wallets especially took over most of the transactions. At the core of this development are wallets created by Philippine mobile operators Globe Telecom and Smart Communications.