DIGITAL transactions continued to rise in the first seven months of the year with money coursed through the country’s two major electronic fund transfer systems surpassing P19 trillion.
Bangko Sentral ng Pilipinas (BSP) data showed that combined transactions processed through InstaPay and PESONet reached P19.16 trillion in January-July, up 44.8 percent from the P13.23 trillion recorded in the same period last year.
The number of transactions surged by 155.3 percent to 4.98 billion from 1.95 billion.
InstaPay processed P9.51 trillion worth of transactions, ballooning by 60.4 percent from the P5.93 trillion recorded in the comparable 2025 period.
PESONet, meanwhile, handled P9.65 trillion, up 32.2 percent from P7.30 trillion.
In July alone, the combined transaction value processed through the two automated clearing houses reached P3.07 trillion compared with P2.91 trillion in June and P2.10 trillion in July last year.
InstaPay accounted for P1.53 trillion of July’s combined value while PESONet handled P1.54 trillion.
The combined transaction volume also surged. InstaPay and PESONet processed 773.19 million transactions in July from 720.33 million in June and 373.31 million a year earlier.
The growth was largely driven by InstaPay, which continued to post significantly faster expansion than PESONet amid strong demand for real-time fund transfers.
InstaPay is an electronic fund transfer service that enables near-instant transfers between participating financial institutions.
PESONet, meanwhile, is also an electronic fund transfer system typically used for higher-value transactions by businesses, institutions and government agencies.
The increased use of electronic fund transfers has allowed the Philippines to reach a digital payments target ahead of schedule.
Digital payments accounted for 64.7 percent of total retail payment transactions last year, up from 57.4 percent in 2024 and hitting the 60–70 percent goal set for 2028.
