Financial Cards and Payments in the Philippines

November 2023
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Overview:

Understand the latest market trends and future growth opportunities for the Financial Cards and Payments industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.

Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.

If you're in the Financial Cards and Payments industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.

The Financial Cards and Payments in Philippines report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volume and value sizes, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent research methodology, conducted in-country

This report answers:

  • What is the market size of Financial Cards and Payments in Philippines?
  • What are the major trends key to understanding Financial Cards and Payments in Philippines?
  • How has COVID-19, recession and macroeconomic volatility impacted the market?
  • How long will the market take to recover? What are the opportunities now?
  • How will political context and shifting cultural values shape future growth?
  • Where is future growth expected to be most dynamic?
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Financial Cards and Payments in the Philippines - Industry Overview

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?
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
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

Summary 1 Research Sources

Charge Cards in the Philippines - Category analysis

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
Significant development is unlikely over the forecast period

Credit Cards in the Philippines - Category analysis

KEY DATA FINDINGS

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
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
Table 27 Credit Cards: Number of Cards in Circulation 2018-2023
Table 28 Credit Cards Transactions 2018-2023
Table 29 Credit Cards in Circulation: % Growth 2018-2023
Table 30 Credit Cards Transactions: % Growth 2018-2023
Table 31 Commercial Credit Cards: Number of Cards in Circulation 2018-2023
Table 32 Commercial Credit Cards Transactions 2018-2023
Table 33 Commercial Credit Cards in Circulation: % Growth 2018-2023
Table 34 Commercial Credit Cards Transactions: % Growth 2018-2023
Table 35 Personal Credit Cards: Number of Cards in Circulation 2018-2023
Table 36 Personal Credit Cards Transactions 2018-2023
Table 37 Personal Credit Cards in Circulation: % Growth 2018-2023
Table 38 Personal Credit Cards Transactions: % Growth 2018-2023
Table 39 Credit Cards: Number of Cards by Issuer 2018-2022
Table 40 Credit Cards: Number of Cards by Operator 2018-2022
Table 41 Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 42 Credit Cards Payment Transaction Value by Operator 2018-2022
Table 43 Commercial Credit Cards: Number of Cards by Issuer 2018-2022
Table 44 Commercial Credit Cards: Number of Cards by Operator 2018-2022
Table 45 Commercial Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 46 Commercial Credit Cards Payment Transaction Value by Operator 2018-2022
Table 47 Personal Credit Cards: Number of Cards by Issuer 2018-2022
Table 48 Personal Credit Cards: Number of Cards by Operator 2018-2022
Table 49 Personal Credit Cards Payment Transaction Value by Issuer 2018-2022
Table 50 Personal Credit Cards Payment Transaction Value by Operator 2018-2022
Table 51 Forecast Credit Cards: Number of Cards in Circulation 2023-2028
Table 52 Forecast Credit Cards Transactions 2023-2028
Table 53 Forecast Credit Cards in Circulation: % Growth 2023-2028
Table 54 Forecast Credit Cards Transactions: % Growth 2023-2028
Table 55 Forecast Commercial Credit Cards: Number of Cards in Circulation 2023-2028
Table 56 Forecast Commercial Credit Cards Transactions 2023-2028
Table 57 Forecast Commercial Credit Cards in Circulation: % Growth 2023-2028
Table 58 Forecast Commercial Credit Cards Transactions: % Growth 2023-2028
Table 59 Forecast Personal Credit Cards: Number of Cards in Circulation 2023-2028
Table 60 Forecast Personal Credit Cards Transactions 2023-2028
Table 61 Forecast Personal Credit Cards in Circulation: % Growth 2023-2028
Table 62 Forecast Personal Credit Cards Transactions: % Growth 2023-2028

Debit Cards in the Philippines - Category analysis

KEY DATA FINDINGS

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
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
Table 63 Debit Cards: Number of Cards in Circulation 2018-2023
Table 64 Debit Cards Transactions 2018-2023
Table 65 Debit Cards in Circulation: % Growth 2018-2023
Table 66 Debit Cards Transactions: % Growth 2018-2023
Table 67 Debit Cards: Number of Cards by Issuer 2018-2022
Table 68 Debit Cards: Number of Cards by Operator 2018-2022
Table 69 Debit Cards Payment Transaction Value by Issuer 2018-2022
Table 70 Debit Cards Payment Transaction Value by Operator 2018-2022
Table 71 Forecast Debit Cards: Number of Cards in Circulation 2023-2028
Table 72 Forecast Debit Cards Transactions 2023-2028
Table 73 Forecast Debit Cards in Circulation: % Growth 2023-2028
Table 74 Forecast Debit Cards Transactions: % Growth 2023-2028

Pre-Paid Cards in the Philippines - Category analysis

KEY DATA FINDINGS

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
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
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 - Category analysis

2023 DEVELOPMENTS

The following categories and subcategories are included:

Financial Cards and Payments

    • ATM Cards
      • Commercial Charge Cards
      • Personal Charge Cards
      • Commercial Credit Cards
      • Personal Credit Cards
      • Commercial Debit Cards
      • Personal Debit Cards
      • Closed Loop Pre-Paid Cards
      • Open Loop Pre-Paid Cards
    • Store Cards
      • ATM Transactions
          • Commercial Charge Card Transactions
          • Personal Charge Card Transactions
          • Commercial Credit Card Transactions
            • Average Personal Credit Card Balance
            • Average Personal Credit Card Limit
            • Personal Credit Card Utilisation
          • Commercial Debit Card Transactions
          • Personal Debit Card Transactions
          • Closed Loop Pre-Paid Card Transactions
          • Open Loop Pre-Paid Card Transactions
        • Store Card Transactions
      • Commercial Card Payment Transactions
      • Commercial Electronic Direct/ACH Transactions
      • Commercial Paper Payment Transactions
      • Personal Card Payment Transactions
      • Personal Electronic Direct/ACH Transactions
      • Personal Paper Payment Transactions
        • Commercial Electronic Direct/ACH Transactions
        • Personal Electronic Direct/ACH Transactions
          • Commercial Cash Transactions
          • Commercial Other Paper Transactions
          • Personal Cash Transactions
          • Personal Other Paper Transactions
      • Mobile Proximity Payments
      • Mobile Remote Payments
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