e-Commerce and Payments in the Philippines
A potential major force in the global digital economy.
The Philippines is a prospective market for e-commerce companies. The market has recently grown as a result of shifting customer preferences for online shopping and increased internet usage. With almost 73 million users, the country has the second-highest percentage of active internet users in Southeast Asia.
Market Overview
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Population
117.3 million
-
Online Population
76 million
-
Currency
PHP
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e-Commerce Market Value
$16.25 billion
-
GDP
$440.9 billion
-
GDP per Capita
$3,905
Available Local Payment Method
Bank Transfer PH
Type
Bank Transfer
Regions
Asia Pacific
GCash
Type
e-Wallet
Regions
Asia Pacific
GrabPay
Type
e-Wallet
Regions
Asia Pacific
Maya
Type
e-Wallet
Regions
Asia Pacific
Key Takeaways
- The average Filipino uses social media platforms actively for an average of 3.5 hours per day, seven days a week. In 2022, there are about 78.5 million social media users in the Philippines.
- The top e-commerce platforms in the Philippines plan mega campaigns like platform birthday, midyear, 9.9, 11.11, and 12.12 events, as well as double-digit monthly promotions which are considered to be major buying holidays.
- eCommerce platforms also provide retail companies participating in the campaigns with campaign packages.
- Alternative payments are poised to upend the nation’s overall consumer payments market with the growing merchant adoption of QR code-based solutions and government initiatives to promote electronic payments.
