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Country Report

Debit Transactions in

Debit Cards in the Philippines

Nov 2020

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

2020 IMPACT

Relatively soft decline in card numbers during COVID-19 pandemic

The decline in the number of cards in circulation has been softer in debit cards than in other categories, as the opening of new accounts for savings has partially offset the impact of the closure of accounts due to unemployment and the generally weaker economy. CIMB noted that it recorded growth in savings account openings and personal loan applications during the first three months of lockdown in the Philippines, while CIMB and BPI were amongst the banks to see deposits rise during the pandemic.

Outcompeted by other payment methods

Debit cards have experienced a steep decline in value in 2020. Despite the efforts of banks such as Bank of the Philippine Islands (BPI) to encourage greater use of debit cards for cashless transactions by offering rewards and promotions, in line with the country’s overall goal to move towards electronic payments, debit cards are not commonly used in cashless transactions in the Philippines.

Leading banks promote debit cards as cashless payment method

BPI remains the largest player in debit cards in terms of the number of cards in circulation, though BDO Unibank is the leader in terms of the value of transactions. Both banks have increased their share in terms of both number of cards in circulation and transaction value, driven by the opening of new accounts and the promotion of debit cards’ use for cashless transactions.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Debit Transactions industry in Philippines with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Debit Transactions industry in Philippines, our research will save you time and money while empowering you to make informed, profitable decisions.

The Debit Transactions in Philippines market research report includes:

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

Our market research reports answer questions such as:

What is the market size of Debit Transactions in Philippines?
What are the major operators and issuers in Philippines?
What is the current state and expected evolution of consumer payment preference?
What payment instrument offers the highest growth potential?
What strategies and positioning have consumer finance companies utilized to win in the market?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Debit Transactions in Philippines, originate from our database within our Consumer Finance market share and market size database.

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Charge Cards in the Philippines - Category analysis

Charge Cards in the Philippines - Company Profile

KEY DATA FINDINGS

2020 IMPACT

COVID-19 reinforces charge cards’ niche status

BDO Unibank and American Express remain the only players in charge cards

RECOVERY AND OPPORTUNITIES

Very limited potential for expansion

CATEGORY DATA

Table 1 Charge Cards: Number of Cards in Circulation 2015-2020
Table 2 Charge Cards Transactions 2015-2020
Table 3 Charge Cards in Circulation: % Growth 2015-2020
Table 4 Charge Cards Transactions: % Growth 2015-2020
Table 5 Commercial Charge Cards: Number of Cards in Circulation 2015-2020
Table 6 Commercial Charge Cards Transactions 2015-2020
Table 7 Commercial Charge Cards in Circulation: % Growth 2015-2020
Table 8 Commercial Charge Cards Transactions: % Growth 2015-2020
Table 9 Personal Charge Cards: Number of Cards in Circulation 2015-2020
Table 10 Personal Charge Cards Transactions 2015-2020
Table 11 Personal Charge Cards in Circulation: % Growth 2015-2020
Table 12 Personal Charge Cards Transactions: % Growth 2015-2020
Table 13 Charge Cards: Number of Cards by Issuer 2015-2019
Table 14 Charge Cards: Number of Cards by Operator 2015-2019
Table 15 Charge Cards Payment Transaction Value by Issuer 2015-2019
Table 16 Charge Cards Payment Transaction Value by Operator 2015-2019
Table 17 Commercial Charge Cards Payment Transaction Value by Issuer 2015-2019
Table 18 Commercial Charge Cards Payment Transaction Value by Operator 2015-2019
Table 19 Personal Charge Cards: Number of Cards by Issuer 2015-2019
Table 20 Personal Charge Cards: Number of Cards by Operator 2015-2019
Table 21 Personal Charge Cards Transaction Value by Issuer 2015-2019
Table 22 Personal Charge Cards Transaction Value by Operator 2015-2019
Table 23 Forecast Charge Cards: Number of Cards in Circulation 2020-2025
Table 24 Forecast Charge Cards Transactions 2020-2025
Table 25 Forecast Charge Cards in Circulation: % Growth 2020-2025
Table 26 Forecast Charge Cards Transactions: % Growth 2020-2025
Table 27 Forecast Commercial Charge Cards: Number of Cards in Circulation 2020-2025
Table 28 Forecast Commercial Charge Cards Transactions 2020-2025
Table 29 Forecast Commercial Charge Cards Transactions: % Growth 2020-2025
Table 30 Forecast Personal Charge Cards: Number of Cards in Circulation 2020-2025
Table 31 Forecast Personal Charge Cards Transactions 2020-2025
Table 32 Forecast Personal Charge Cards in Circulation: % Growth 2020-2025
Table 33 Forecast Personal Charge Cards Transactions: % Growth 2020-2025

Credit Cards in the Philippines - Category analysis

Credit Cards in the Philippines - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Decline despite surge in demand

Commercial credit cards hit hard by lockdown

Players look to tap into increased demand during lockdown

RECOVERY AND OPPORTUNITIES

Recovery but with challenges

Fintech players to play a growing role in credit cards

Commercial credit cards set to struggle to recover

CATEGORY DATA

Table 34 Credit Cards: Number of Cards in Circulation 2015-2020
Table 35 Credit Cards Transactions 2015-2020
Table 36 Credit Cards in Circulation: % Growth 2015-2020
Table 37 Credit Cards Transactions: % Growth 2015-2020
Table 38 Commercial Credit Cards: Number of Cards in Circulation 2015-2020
Table 39 Commercial Credit Cards Transactions 2015-2020
Table 40 Commercial Credit Cards in Circulation: % Growth 2015-2020
Table 41 Commercial Credit Cards Transactions: % Growth 2015-2020
Table 42 Personal Credit Cards: Number of Cards in Circulation 2015-2020
Table 43 Personal Credit Cards Transactions 2015-2020
Table 44 Personal Credit Cards in Circulation: % Growth 2015-2020
Table 45 Personal Credit Cards Transactions: % Growth 2015-2020
Table 46 Credit Cards: Number of Cards by Issuer 2015-2019
Table 47 Credit Cards: Number of Cards by Operator 2015-2019
Table 48 Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 49 Credit Cards Payment Transaction Value by Operator 2015-2019
Table 50 Commercial Credit Cards: Number of Cards by Issuer 2015-2019
Table 51 Commercial Credit Cards: Number of Cards by Operator 2015-2019
Table 52 Commercial Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 53 Commercial Credit Cards Payment Transaction Value by Operator 2015-2019
Table 54 Personal Credit Cards: Number of Cards by Issuer 2015-2019
Table 55 Personal Credit Cards: Number of Cards by Operator 2015-2019
Table 56 Personal Credit Cards Payment Transaction Value by Issuer 2015-2019
Table 57 Personal Credit Cards Payment Transaction Value by Operator 2015-2019
Table 58 Forecast Credit Cards: Number of Cards in Circulation 2020-2025
Table 59 Forecast Credit Cards Transactions 2020-2025
Table 60 Forecast Credit Cards in Circulation: % Growth 2020-2025
Table 61 Forecast Credit Cards Transactions: % Growth 2020-2025
Table 62 Forecast Commercial Credit Cards: Number of Cards in Circulation 2020-2025
Table 63 Forecast Commercial Credit Cards Transactions 2020-2025
Table 64 Forecast Commercial Credit Cards in Circulation: % Growth 2020-2025
Table 65 Forecast Commercial Credit Cards Transactions: % Growth 2020-2025
Table 66 Forecast Personal Credit Cards: Number of Cards in Circulation 2020-2025
Table 67 Forecast Personal Credit Cards Transactions 2020-2025
Table 68 Forecast Personal Credit Cards in Circulation: % Growth 2020-2025
Table 69 Forecast Personal Credit Cards Transactions: % Growth 2020-2025

Debit Cards in the Philippines - Category analysis

Debit Cards in the Philippines - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Relatively soft decline in card numbers during COVID-19 pandemic

Outcompeted by other payment methods

Leading banks promote debit cards as cashless payment method

RECOVERY AND OPPORTUNITIES

Banks lay foundations for further expansion

Issues need to be addressed

Department of Labor and Employment advice has potential to bolster category development

CATEGORY DATA

Table 70 Debit Cards: Number of Cards in Circulation 2015-2020
Table 71 Debit Cards Transactions 2015-2020
Table 72 Debit Cards in Circulation: % Growth 2015-2020
Table 73 Debit Cards Transactions: % Growth 2015-2020
Table 74 Debit Cards: Number of Cards by Issuer 2015-2019
Table 75 Debit Cards: Number of Cards by Operator 2015-2019
Table 76 Debit Cards Payment Transaction Value by Issuer 2015-2019
Table 77 Debit Cards Payment Transaction Value by Operator 2015-2019
Table 78 Forecast Debit Cards: Number of Cards in Circulation 2020-2025
Table 79 Forecast Debit Cards Transactions 2020-2025
Table 80 Forecast Debit Cards in Circulation: % Growth 2020-2025
Table 81 Forecast Debit Cards Transactions: % Growth 2020-2025

Pre-Paid Cards in the Philippines - Category analysis

Pre-Paid Cards in the Philippines - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Closed loop pre-paid cards suffers as a result of restrictions on key spending channels

Open loop pre-paid cards facing competition from rise of mobile wallets

COVID-19 leads to surge in demand for mobile wallets

RECOVERY AND OPPORTUNITIES

Closed loop pre-paid cards set to benefit from the reopening of key channels

Continued expansion of mobile wallets a threat to open loop pre-paid cards

Return of transaction fees a potential influence

CATEGORY DATA

Table 82 Pre-paid Cards: Number of Cards in Circulation 2015-2020
Table 83 Pre-paid Cards Transactions 2015-2020
Table 84 Pre-paid Cards in Circulation: % Growth 2015-2020
Table 85 Pre-paid Cards Transactions: % Growth 2015-2020
Table 86 Closed Loop Pre-paid Cards Transactions 2015-2020
Table 87 Closed Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 88 Open Loop Pre-paid Cards Transactions 2015-2020
Table 89 Open Loop Pre-paid Cards Transactions: % Growth 2015-2020
Table 90 Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 91 Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 92 Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 93 Pre-paid Cards Transaction Value by Operator 2015-2019
Table 94 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 95 Closed Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 96 Closed Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 97 Closed Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 98 Open Loop Pre-paid Cards: Number of Cards by Issuer 2015-2019
Table 99 Open Loop Pre-paid Cards: Number of Cards by Operator 2015-2019
Table 100 Open Loop Pre-paid Cards Transaction Value by Issuer 2015-2019
Table 101 Open Loop Pre-paid Cards Transaction Value by Operator 2015-2019
Table 102 Forecast Pre-paid Cards: Number of Cards in Circulation 2020-2025
Table 103 Forecast Pre-paid Cards Transactions 2020-2025
Table 104 Forecast Pre-paid Cards in Circulation: % Growth 2020-2025
Table 105 Forecast Pre-paid Cards Transactions: % Growth 2020-2025
Table 106 Forecast Closed Loop Pre-paid Cards Transactions 2020-2025
Table 107 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2020-2025
Table 108 Forecast Open Loop Pre-paid Cards Transactions 2020-2025
Table 109 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2020-2025

Store Cards in the Philippines - Category analysis

Store Cards in the Philippines - Company Profile

2020 IMPACT

Store cards not present in market

Financial Cards and Payments in the Philippines - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Central Bank promotes mobile wallets

M-commerce and e-commerce thriving

Digital players continue to expand, but credit cards keep BDO Unibank ahead in terms of value

What next for consumer payments?

MARKET INDICATORS

Table 110 Number of POS Terminals: Units 2015-2020
Table 111 Number of ATMs: Units 2015-2020
Table 112 Value Lost to Fraud 2015-2020
Table 113 Card Expenditure by Location 2020
Table 114 Financial Cards in Circulation by Type: % Number of Cards 2015-2020
Table 115 Domestic versus Foreign Spend 2020

MARKET DATA

Table 116 Financial Cards by Category: Number of Cards in Circulation 2015-2020
Table 117 Financial Cards by Category: Number of Accounts 2015-2020
Table 118 Financial Cards Transactions by Category: Value 2015-2020
Table 119 Financial Cards by Category: Number of Transactions 2015-2020
Table 120 Consumer Payments by Category: Value 2015-2020
Table 121 Consumer Payments by Category: Number of Transactions 2015-2020
Table 122 M-Commerce by Category: Value 2015-2020
Table 123 M-Commerce by Category: % Value Growth 2015-2020
Table 124 Financial Cards: Number of Cards by Issuer 2015-2019
Table 125 Financial Cards: Number of Cards by Operator 2015-2019
Table 126 Financial Cards: Card Payment Transactions Value by Operator 2015-2019
Table 127 Financial Cards: Card Payment Transactions Value by Issuer 2015-2019
Table 128 Forecast Financial Cards by Category: Number of Cards in Circulation 2020-2025
Table 129 Forecast Financial Cards by Category: Number of Accounts 2020-2025
Table 130 Forecast Financial Cards Transactions by Category: Value 2020-2025
Table 131 Forecast Financial Cards by Category: Number of Transactions 2020-2025
Table 132 Forecast Consumer Payments by Category: Value 2020-2025
Table 133 Forecast Consumer Payments by Category: Number of Transactions 2020-2025
Table 134 Forecast M-Commerce by Category: Value 2020-2025
Table 135 Forecast M-Commerce by Category: % Value Growth 2020-2025

Megatrends

Country Report

Debit Cards in the Philippines

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Relatively soft decline in card numbers during COVID-19 pandemic

Outcompeted by other payment methods

Leading banks promote debit cards as cashless payment method

Overview

Why buy this report?

SAMPLES

Delivery Method

Overview

Why buy this report?

Want to find out more about this report?

Table of Contents

Charge Cards in the Philippines - Category analysis

Charge Cards in the Philippines - Company Profile

KEY DATA FINDINGS

2020 IMPACT

COVID-19 reinforces charge cards’ niche status

BDO Unibank and American Express remain the only players in charge cards

RECOVERY AND OPPORTUNITIES

Very limited potential for expansion

CATEGORY DATA

Credit Cards in the Philippines - Category analysis

Credit Cards in the Philippines - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Decline despite surge in demand

Commercial credit cards hit hard by lockdown

Players look to tap into increased demand during lockdown

RECOVERY AND OPPORTUNITIES

Recovery but with challenges

Fintech players to play a growing role in credit cards

Commercial credit cards set to struggle to recover

CATEGORY DATA

Debit Cards in the Philippines - Category analysis

Debit Cards in the Philippines - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Relatively soft decline in card numbers during COVID-19 pandemic

Outcompeted by other payment methods

Leading banks promote debit cards as cashless payment method

RECOVERY AND OPPORTUNITIES

Banks lay foundations for further expansion

Issues need to be addressed

Department of Labor and Employment advice has potential to bolster category development

CATEGORY DATA

Pre-Paid Cards in the Philippines - Category analysis

Pre-Paid Cards in the Philippines - Company Profile

KEY DATA FINDINGS

2020 IMPACT

Closed loop pre-paid cards suffers as a result of restrictions on key spending channels

Open loop pre-paid cards facing competition from rise of mobile wallets

COVID-19 leads to surge in demand for mobile wallets

RECOVERY AND OPPORTUNITIES

Closed loop pre-paid cards set to benefit from the reopening of key channels

Continued expansion of mobile wallets a threat to open loop pre-paid cards

Return of transaction fees a potential influence

CATEGORY DATA

Store Cards in the Philippines - Category analysis

Store Cards in the Philippines - Company Profile

2020 IMPACT

Store cards not present in market

Financial Cards and Payments in the Philippines - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on consumer payments

COVID-19 country impact

Central Bank promotes mobile wallets

M-commerce and e-commerce thriving

Digital players continue to expand, but credit cards keep BDO Unibank ahead in terms of value

What next for consumer payments?

MARKET INDICATORS

MARKET DATA

DISCLAIMER

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT