Payments Landscape in the Philippines: Opportunities and Risks to 2021

Payments Landscape in the Philippines: Opportunities and Risks to 2021

  • Products Id :- FS0107CI
  • |
  • Pages: 51
  • |
  • |
  • |
  Request for Sample Report
  Request A Quote

Executive Summary

Payments Landscape in the Philippines: Opportunities and Risks to 2021


GlobalData's "Payments Landscape in the Philippines: Opportunities and Risks to 2021", report provides detailed analysis of market trends in the Philippines cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, payment cards, and cheques during the review-period (2013-17e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

The report provides top-level market analysis, information and insights into the Philippines cards and payments industry, including

Current and forecast values for each market in the Philippines cards and payments industry, including debit, credit, and charge cards.

Detailed insights into payment instruments including cheques, cash, and payment cards. It also, includes an overview of the country's key alternative payment instruments.

E-commerce market analysis and payment methods.

Analysis of various market drivers and regulations governing the Philippines cards and payments industry.

Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.


To transform the country's payment system and increase the acceptance of electronic payments, the Bangko Sentral ng Pilipinas (BSP) introduced the Philippine EFT System and Operations Network (PESONet) in November 2017. This is a batch-based electronic credit transfer system facilitating business-to-business (B2B), customer-to-business (C2B), government-to-government (G2G), and person-to-government (P2G) transactions in the country. It is the first automated clearing house in the Philippines under the National Retail Payment System (NRPS)that enables all Filipinos to perform electronic credit transfers. Under the system, funds are made available to the recipient instantaneously upon clearing or on the same banking day. Recipients are not charged electronic crediting fees. As of November 2017, a total of 33 BSP-supervised financial institutions and other non-bank electronic money issuers had integrated with PESONet. Furthermore, BSP is working on the implementation of 24/7 low-value electronic fund transfer system InstaPay, which is due to launch in 2018.

To boost the credit card market, in August 2016 the Philippine Credit Card Industry Regulation Law was introduced granting BSP with powers to supervise all credit card issuers and acquirers operating in the country. Violation of any rules or regulations by credit card companies will result in a penalty. BSP mandates all credit card issuers to perform customer identification and due diligence procedure s before issuing credit cards, and forbids card issuers from adopting any unfair and abusive practices when collecting credit card debt.

In order to align with international payment card standards, in November 2014 BSP made it mandatory for banks to shift from the traditional magnetic stripe to more secure EMV chip cards by January 2017. Following this announcement, BancNet signed an agreement with Visa in February 2015 to accelerate the migration to EMV chip cards for all domestic transactions. In addition to cards, the migration process ensures that ATMs and POS terminals are compliant with EMV standards. To help banks migrate to EMV card portfolios, BSP has extended the deadline from January 1, 2017 to June 30, 2018, after which all non-compliant banks will face penalties.

Reasons to buy

Make strategic business decisions, using top-level historic and forecast market data, related to the Philippines cards and payments industry and each market within it.

Understand the key market trends and growth opportunities in the Philippines cards and payments industry.

Assess the competitive dynamics in the Philippines cards and payments industry.

Gain insights into marketing strategies used for various card types in the Philippines.

Gain insights into key regulations governing the Philippines cards and payments industry.

Read More

Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications


Table of Contents

Market Overview

Executive Summary

Card-based Payments

E-commerce Payments

Alternative Payments

Payments Infrastructure & Regulation


Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License:
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to sales [@]

Land Bank of the Philippines

Banco de Oro



Rizal Commercial Banking Corporation


EastWest Bank






American Express

select a license
Single User License
USD 2750 INR 196570
Site License
USD 5500 INR 393140
Corporate User License
USD 8250 INR 589710



An excellent provider. Thorough, precise and outstanding insight. They drill down to what we need and their reports are effective at integrating text with supporting graphics and charts. Their reports are a great resource to go back too. ...

Coherent, high-quality, thoroughly-researched reports. We received a very quick response to all our queries which eventually expedited the entire process....

Well structured, the insights they shared with us were very helpful and reliable. Their timely assistance make their services invaluable to us. I would highly recommend them and would definitely use them again in the future if needed...

The report sent to us was on the point, and its information was quite extensive, well structured, and well researched. More importantly what we valued was your response time and professionalism. As a leading global consulting firm, our clients expect high quality deliverables in short periods of time, so a reliable research partner is essential. For the price that you have charged the quality of your services were exceptional. We look forward to continue our relationship with your team on future engagements....

This is with regards to your report on India PVC pipes and fitting market outlook industry outlook to 2019. This is a very well written report and accept my compliments on the same.... ...

Ken Research Private Limited, Unit 14, Tower B3, Spaze I Tech Business Park, Sohna Road, sector 49
     Gurgaon, Haryana - 122001, India


Company Brochure

Engage with Us

sales [@]