Financial Cards and Payments in the Philippines
While the initial surge in spending and reopening of the economy, with the easing of the threat of Coronavirus (COVID-19) and lifting of related restrictions, has started to stabilise, the Philippines continues to experience robust growth in both volume and value terms within digital payments. This growth is observed across various areas of financial cards and payments. Notably, travel, dining, entertainment and e-commerce remain significant drivers, benefiting from the expanding merchant ecosys...
Euromonitor International's Financial Cards and Payments in Philippines report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
Product coverage: Financial Cards in Circulation, Mobile Payments, Transactions.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
Euromonitor International's Financial Cards and Payments in Philippines report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
Product coverage: Financial Cards in Circulation, Mobile Payments, Transactions.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Financial Cards and Payments market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market’s major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
Financial Cards and Payments in the Philippines
Euromonitor International
November 2023
List Of Contents And Tables
FINANCIAL CARDS AND PAYMENTS IN THE PHILIPPINES
EXECUTIVE SUMMARY
Financial cards and payments in 2023: The big picture
2023 KEY TRENDS
Card and e-payments continue to gain ground at the expense of cash
Competitive landscape
What next for financial cards and payments?
MARKET INDICATORS
Table 1 Number of POS Terminals: Units 2018-2023
Table 2 Number of ATMs: Units 2018-2023
Table 3 Value Lost to Fraud 2018-2023
Table 4 Card Expenditure by Location 2023
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2018-2023
Table 6 Domestic versus Foreign Spend 2023
MARKET DATA
Table 7 Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 8 Financial Cards by Category: Number of Accounts 2018-2023
Table 9 Financial Cards Transactions by Category: Value 2018-2023
Table 10 Financial Cards by Category: Number of Transactions 2018-2023
Table 11 Consumer Payments by Category: Value 2018-2023
Table 12 Consumer Payments by Category: Number of Transactions 2018-2023
Table 13 M-Commerce by Category: Value 2018-2023
Table 14 M-Commerce by Category: % Value Growth 2018-2023
Table 15 Financial Cards: Number of Cards by Issuer 2018-2022
Table 16 Financial Cards: Number of Cards by Operator 2018-2022
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2018-2022
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2018-2022
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2023-2028
Table 20 Forecast Financial Cards by Category: Number of Accounts 2023-2028
Table 21 Forecast Financial Cards Transactions by Category: Value 2023-2028
Table 22 Forecast Financial Cards by Category: Number of Transactions 2023-2028
Table 23 Forecast Consumer Payments by Category: Value 2023-2028
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2023-2028
Table 25 Forecast M-Commerce by Category: Value 2023-2028
Table 26 Forecast M-Commerce by Category: % Value Growth 2023-2028
DISCLAIMER
SOURCES
Summary 1 Research Sources
DEBIT CARDS IN THE PHILIPPINES
KEY DATA FINDINGS
2023 DEVELOPMENTS
The pandemic experience provides a springboard for debit cards
Digital banks help to accelerate the adoption of debit cards
InstaPay and PESONet drive debit card usage
PROSPECTS AND OPPORTUNITIES
Slower average spend amid challenges to transaction growth
Product and service improvements to help overcome challenges
“Cash-lite” concept to develop and grow in the forecast period
CATEGORY DATA
Table 27 Debit Cards: Number of Cards in Circulation 2018-2023
Table 28 Debit Cards Transactions 2018-2023
Table 29 Debit Cards in Circulation: % Growth 2018-2023
Table 30 Debit Cards Transactions: % Growth 2018-2023
Table 31 Debit Cards: Number of Cards by Issuer 2018-2022
Table 32 Debit Cards: Number of Cards by Operator 2018-2022
Table 33 Debit Cards Payment Transaction Value by Issuer 2018-2022
Table 34 Debit Cards Payment Transaction Value by Operator 2018-2022
Table 35 Forecast Debit Cards: Number of Cards in Circulation 2023-2028
Table 36 Forecast Debit Cards Transactions 2023-2028
Table 37 Forecast Debit Cards in Circulation: % Growth 2023-2028
Table 38 Forecast Debit Cards Transactions: % Growth 2023-2028
CREDIT CARDS IN THE PHILIPPINES
KEY DATA FINDINGS
2023 DEVELOPMENTS
Resurgence in spending and financial burden on consumers drive credit card transactions
Travel boosts spending and stimulates new product development
Higher interest rate imposed by the central bank
PROSPECTS AND OPPORTUNITIES
New players and technologies continue to enter the fray but fraud still plagues credit cards
A drop in delinquencies is set to boost credit cards
Positive outlook despite rising competition
CATEGORY DATA
Table 39 Credit Cards: Number of Cards in Circulation 2018-2023
Table 40 Credit Cards Transactions 2018-2023
Table 41 Credit Cards in Circulation: % Growth 2018-2023
Table 42 Credit Cards Transactions: % Growth 2018-2023
Table 43 Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 44 Commercial Credit Cards Transactions 2018-2023
Table 45 Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 46 Commercial Credit Cards Transactions: % Growth 2018-2023
Table 47 Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 48 Personal Credit Cards Transactions 2018-2023
Table 49 Personal Credit Cards in Circulation: % Growth 2018-2023
Table 50 Personal Credit Cards Transactions: % Growth 2018-2023
Table 51 Credit Cards: Number of Cards by Issuer 2018-2022
Table 52 Credit Cards: Number of Cards by Operator 2018-2022
Table 53 Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 54 Credit Cards Payment Transaction Value by Operator 2018-2022
Table 55 Commercial Credit Cards: Number of Cards by Issuer 2018-2022
Table 56 Commercial Credit Cards: Number of Cards by Operator 2018-2022
Table 57 Commercial Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 58 Commercial Credit Cards Payment Transaction Value by Operator 2018-2022
Table 59 Personal Credit Cards: Number of Cards by Issuer 2018-2022
Table 60 Personal Credit Cards: Number of Cards by Operator 2018-2022
Table 61 Personal Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 62 Personal Credit Cards Payment Transaction Value by Operator 2018-2022
Table 63 Forecast Credit Cards: Number of Cards in Circulation 2023-2028
Table 64 Forecast Credit Cards Transactions 2023-2028
Table 65 Forecast Credit Cards in Circulation: % Growth 2023-2028
Table 66 Forecast Credit Cards Transactions: % Growth 2023-2028
Table 67 Forecast Commercial Credit Cards: Number of Cards in Circulation 2023-2028
Table 68 Forecast Commercial Credit Cards Transactions 2023-2028
Table 69 Forecast Commercial Credit Cards in Circulation: % Growth 2023-2028
Table 70 Forecast Commercial Credit Cards Transactions: % Growth 2023-2028
Table 71 Forecast Personal Credit Cards: Number of Cards in Circulation 2023-2028
Table 72 Forecast Personal Credit Cards Transactions 2023-2028
Table 73 Forecast Personal Credit Cards in Circulation: % Growth 2023-2028
Table 74 Forecast Personal Credit Cards Transactions: % Growth 2023-2028
CHARGE CARDS IN THE PHILIPPINES
2023 DEVELOPMENTS
Charge cards remains a niche category in the Philippines in 2023
BDO Unibank is the sole issuer of charge cards under American Express
Shop Small initiative
PROSPECTS AND OPPORTUNITIES
Significant development is unlikely over the forecast period
PRE-PAID CARDS IN THE PHILIPPINES
KEY DATA FINDINGS
2023 DEVELOPMENTS
Government and bank support helps pre-paid cards to gain traction
Mobile wallets propel the expansion of pre-paid cards
Beep card provides new payment solution for transportation
PROSPECTS AND OPPORTUNITIES
Development required for open and closed loop pre-paid cards in a competitive field
Closed loop pre-paid cards are under pressure while virtual cards offer growth opportunities
Mobile wallets to sustain growth for pre-paid cards
CATEGORY DATA
Table 75 Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 76 Pre-paid Cards Transactions 2018-2023
Table 77 Pre-paid Cards in Circulation: % Growth 2018-2023
Table 78 Pre-paid Cards Transactions: % Growth 2018-2023
Table 79 Closed Loop Pre-paid Cards Transactions 2018-2023
Table 80 Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 81 Open Loop Pre-paid Cards Transactions 2018-2023
Table 82 Open Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 83 Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 84 Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 85 Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 86 Pre-paid Cards Transaction Value by Operator 2018-2022
Table 87 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 88 Closed Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 89 Closed Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 90 Closed Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 91 Open Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 92 Open Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 93 Open Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 94 Open Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 95 Forecast Pre-paid Cards: Number of Cards in Circulation 2023-2028
Table 96 Forecast Pre-paid Cards Transactions 2023-2028
Table 97 Forecast Pre-paid Cards in Circulation: % Growth 2023-2028
Table 98 Forecast Pre-paid Cards Transactions: % Growth 2023-2028
Table 99 Forecast Closed Loop Pre-paid Cards Transactions 2023-2028
Table 100 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2023-2028
Table 101 Forecast Open Loop Pre-paid Cards Transactions 2023-2028
Table 102 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2023-2028
STORE CARDS IN THE PHILIPPINES
2023 DEVELOPMENTS
Euromonitor International
November 2023
List Of Contents And Tables
FINANCIAL CARDS AND PAYMENTS IN THE PHILIPPINES
EXECUTIVE SUMMARY
Financial cards and payments in 2023: The big picture
2023 KEY TRENDS
Card and e-payments continue to gain ground at the expense of cash
Competitive landscape
What next for financial cards and payments?
MARKET INDICATORS
Table 1 Number of POS Terminals: Units 2018-2023
Table 2 Number of ATMs: Units 2018-2023
Table 3 Value Lost to Fraud 2018-2023
Table 4 Card Expenditure by Location 2023
Table 5 Financial Cards in Circulation by Type: % Number of Cards 2018-2023
Table 6 Domestic versus Foreign Spend 2023
MARKET DATA
Table 7 Financial Cards by Category: Number of Cards in Circulation 2018-2023
Table 8 Financial Cards by Category: Number of Accounts 2018-2023
Table 9 Financial Cards Transactions by Category: Value 2018-2023
Table 10 Financial Cards by Category: Number of Transactions 2018-2023
Table 11 Consumer Payments by Category: Value 2018-2023
Table 12 Consumer Payments by Category: Number of Transactions 2018-2023
Table 13 M-Commerce by Category: Value 2018-2023
Table 14 M-Commerce by Category: % Value Growth 2018-2023
Table 15 Financial Cards: Number of Cards by Issuer 2018-2022
Table 16 Financial Cards: Number of Cards by Operator 2018-2022
Table 17 Financial Cards: Card Payment Transactions Value by Operator 2018-2022
Table 18 Financial Cards: Card Payment Transactions Value by Issuer 2018-2022
Table 19 Forecast Financial Cards by Category: Number of Cards in Circulation 2023-2028
Table 20 Forecast Financial Cards by Category: Number of Accounts 2023-2028
Table 21 Forecast Financial Cards Transactions by Category: Value 2023-2028
Table 22 Forecast Financial Cards by Category: Number of Transactions 2023-2028
Table 23 Forecast Consumer Payments by Category: Value 2023-2028
Table 24 Forecast Consumer Payments by Category: Number of Transactions 2023-2028
Table 25 Forecast M-Commerce by Category: Value 2023-2028
Table 26 Forecast M-Commerce by Category: % Value Growth 2023-2028
DISCLAIMER
SOURCES
Summary 1 Research Sources
DEBIT CARDS IN THE PHILIPPINES
KEY DATA FINDINGS
2023 DEVELOPMENTS
The pandemic experience provides a springboard for debit cards
Digital banks help to accelerate the adoption of debit cards
InstaPay and PESONet drive debit card usage
PROSPECTS AND OPPORTUNITIES
Slower average spend amid challenges to transaction growth
Product and service improvements to help overcome challenges
“Cash-lite” concept to develop and grow in the forecast period
CATEGORY DATA
Table 27 Debit Cards: Number of Cards in Circulation 2018-2023
Table 28 Debit Cards Transactions 2018-2023
Table 29 Debit Cards in Circulation: % Growth 2018-2023
Table 30 Debit Cards Transactions: % Growth 2018-2023
Table 31 Debit Cards: Number of Cards by Issuer 2018-2022
Table 32 Debit Cards: Number of Cards by Operator 2018-2022
Table 33 Debit Cards Payment Transaction Value by Issuer 2018-2022
Table 34 Debit Cards Payment Transaction Value by Operator 2018-2022
Table 35 Forecast Debit Cards: Number of Cards in Circulation 2023-2028
Table 36 Forecast Debit Cards Transactions 2023-2028
Table 37 Forecast Debit Cards in Circulation: % Growth 2023-2028
Table 38 Forecast Debit Cards Transactions: % Growth 2023-2028
CREDIT CARDS IN THE PHILIPPINES
KEY DATA FINDINGS
2023 DEVELOPMENTS
Resurgence in spending and financial burden on consumers drive credit card transactions
Travel boosts spending and stimulates new product development
Higher interest rate imposed by the central bank
PROSPECTS AND OPPORTUNITIES
New players and technologies continue to enter the fray but fraud still plagues credit cards
A drop in delinquencies is set to boost credit cards
Positive outlook despite rising competition
CATEGORY DATA
Table 39 Credit Cards: Number of Cards in Circulation 2018-2023
Table 40 Credit Cards Transactions 2018-2023
Table 41 Credit Cards in Circulation: % Growth 2018-2023
Table 42 Credit Cards Transactions: % Growth 2018-2023
Table 43 Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 44 Commercial Credit Cards Transactions 2018-2023
Table 45 Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 46 Commercial Credit Cards Transactions: % Growth 2018-2023
Table 47 Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 48 Personal Credit Cards Transactions 2018-2023
Table 49 Personal Credit Cards in Circulation: % Growth 2018-2023
Table 50 Personal Credit Cards Transactions: % Growth 2018-2023
Table 51 Credit Cards: Number of Cards by Issuer 2018-2022
Table 52 Credit Cards: Number of Cards by Operator 2018-2022
Table 53 Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 54 Credit Cards Payment Transaction Value by Operator 2018-2022
Table 55 Commercial Credit Cards: Number of Cards by Issuer 2018-2022
Table 56 Commercial Credit Cards: Number of Cards by Operator 2018-2022
Table 57 Commercial Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 58 Commercial Credit Cards Payment Transaction Value by Operator 2018-2022
Table 59 Personal Credit Cards: Number of Cards by Issuer 2018-2022
Table 60 Personal Credit Cards: Number of Cards by Operator 2018-2022
Table 61 Personal Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 62 Personal Credit Cards Payment Transaction Value by Operator 2018-2022
Table 63 Forecast Credit Cards: Number of Cards in Circulation 2023-2028
Table 64 Forecast Credit Cards Transactions 2023-2028
Table 65 Forecast Credit Cards in Circulation: % Growth 2023-2028
Table 66 Forecast Credit Cards Transactions: % Growth 2023-2028
Table 67 Forecast Commercial Credit Cards: Number of Cards in Circulation 2023-2028
Table 68 Forecast Commercial Credit Cards Transactions 2023-2028
Table 69 Forecast Commercial Credit Cards in Circulation: % Growth 2023-2028
Table 70 Forecast Commercial Credit Cards Transactions: % Growth 2023-2028
Table 71 Forecast Personal Credit Cards: Number of Cards in Circulation 2023-2028
Table 72 Forecast Personal Credit Cards Transactions 2023-2028
Table 73 Forecast Personal Credit Cards in Circulation: % Growth 2023-2028
Table 74 Forecast Personal Credit Cards Transactions: % Growth 2023-2028
CHARGE CARDS IN THE PHILIPPINES
2023 DEVELOPMENTS
Charge cards remains a niche category in the Philippines in 2023
BDO Unibank is the sole issuer of charge cards under American Express
Shop Small initiative
PROSPECTS AND OPPORTUNITIES
Significant development is unlikely over the forecast period
PRE-PAID CARDS IN THE PHILIPPINES
KEY DATA FINDINGS
2023 DEVELOPMENTS
Government and bank support helps pre-paid cards to gain traction
Mobile wallets propel the expansion of pre-paid cards
Beep card provides new payment solution for transportation
PROSPECTS AND OPPORTUNITIES
Development required for open and closed loop pre-paid cards in a competitive field
Closed loop pre-paid cards are under pressure while virtual cards offer growth opportunities
Mobile wallets to sustain growth for pre-paid cards
CATEGORY DATA
Table 75 Pre-paid Cards: Number of Cards in Circulation 2018-2023
Table 76 Pre-paid Cards Transactions 2018-2023
Table 77 Pre-paid Cards in Circulation: % Growth 2018-2023
Table 78 Pre-paid Cards Transactions: % Growth 2018-2023
Table 79 Closed Loop Pre-paid Cards Transactions 2018-2023
Table 80 Closed Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 81 Open Loop Pre-paid Cards Transactions 2018-2023
Table 82 Open Loop Pre-paid Cards Transactions: % Growth 2018-2023
Table 83 Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 84 Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 85 Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 86 Pre-paid Cards Transaction Value by Operator 2018-2022
Table 87 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 88 Closed Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 89 Closed Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 90 Closed Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 91 Open Loop Pre-paid Cards: Number of Cards by Issuer 2018-2022
Table 92 Open Loop Pre-paid Cards: Number of Cards by Operator 2018-2022
Table 93 Open Loop Pre-paid Cards Transaction Value by Issuer 2018-2022
Table 94 Open Loop Pre-paid Cards Transaction Value by Operator 2018-2022
Table 95 Forecast Pre-paid Cards: Number of Cards in Circulation 2023-2028
Table 96 Forecast Pre-paid Cards Transactions 2023-2028
Table 97 Forecast Pre-paid Cards in Circulation: % Growth 2023-2028
Table 98 Forecast Pre-paid Cards Transactions: % Growth 2023-2028
Table 99 Forecast Closed Loop Pre-paid Cards Transactions 2023-2028
Table 100 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2023-2028
Table 101 Forecast Open Loop Pre-paid Cards Transactions 2023-2028
Table 102 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2023-2028
STORE CARDS IN THE PHILIPPINES
2023 DEVELOPMENTS
