Philippines payment methods, processors - Ecommerce Market

Market Overview

The Philippines is ranked the 20th largest eCommerce market in the world*. * Source: eCommerceDB, 2023

Population: 117M *

44% of the adult population in the Philippines remains unbanked, highlighting a significant opportunity for digital financial solutions.*

* Source: Worldometers 2023 & Statista, 2022
eCommerce: 18B *

With an annual growth rate (CAGR 2023-2027) of 12.40%*.

* Source: ecommercedb, 2024
eShoppers: 53.62M *

eCommerce users are estimated to continue increasing until 2027 to reach 60.41 million.

* Source: Statista, 2024
Internet users: 73.6% *

The number of eCommerce users is expected to reach 60 million by 2027*.

* Source: datareportal. 2024.

Essential you need to know

Credit and debit cards

Play like a local by offering traditional payment methods.
- Visa
- Mastercard
Wallets
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Tackle all audiences.
- GrabPay
- Paymaya
- GCash
- ShopeePay
Cash-based payments
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- Cebuana
- LBC
- Alawan Express
- M Luhillier
Bank Transfers
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Count on a wide variety of options to drive conversion.
- Union Bank
- BPI
- Regular Bank Transfers