Market Overview
The Philippines is ranked the 20th largest eCommerce market in the world*. * Source: eCommerceDB, 2023
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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
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eShoppers: 51.47M *
eCommerce users are estimated to continue increasing until 2027 to reach 60.41 million.
* Source: Statista, 2023
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eCommerce: 16B *
With an annual growth rate (CAGR 2023-2027) of 12.40%*.
* Source: Statista, 2022
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Internet users: 73.1% *
The number of eCommerce users is expected to reach 60 million by 2027*.
* Source: Philippine Institute of Development Studies. Middle of 2023.
Gain insight into the Philippines' most relevant payment methods
- 33% eWallets
- 18% Credit Cards
- 16% Bank Transfers
- 15% Cash on delivery (CoD)
- 12% Debit Cards
- 4% Prepaid
- 2% Buy now pay later (BNPL)
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Credit and debit cards
Play like a local by offering traditional payment methods.
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Wallets
Tackle all audiences.
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Cash-based payments
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Online bank transfers
Count on a wide variety of options to drive conversion.
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