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Total volume of electronic money transactions in the Philippines in 2019 and 2020 (in billions)

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Sources

Release date

June 2021

Region

Philippines

Survey time period

2019 to 2020

Citation formats

Volume of electronic money transactions Philippines 2019-2020

Published by K. Scholle, Jul 6, 2021
The risks posed by traditional method of cash transactions during the coronavirus (COVID-19) pandemic led to a surge in online or digital money transactions across the globe. In the Philippines, the volume of electronic money transactions processed by banks and financial institutions increased by more than *** percent to **** billion in 2020. Filipino consumers highlight the convenience of electronic transactions as the main reason for choosing this payment method.
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