Reasons for Popularity

Reasons for Popularity

Reasons for Popularity

Reasons for Popularity

Reasons for Popularity

Reasons for Popularity

Accessibility: The app targets the unbanked demographic, allowing users without bank accounts to access essential financial services directly from their smartphones

Comprehensive Services: Coins.ph offers a wide range of functionalities, including cryptocurrency management (supporting over 90 cryptocurrencies), bill payments for more than 120 types of bills, cash-in and cash-out services through an extensive network of over 33,000 partner locations nationwide

Regulatory Compliance: Coins.ph is licensed by the Bangko Sentral ng Pilipinas (BSP) as both a Virtual Currency and Electronic Money Issuer

Innovative Technology: Utilizing blockchain technology allows for instant cross-border transactions and contributes to the overall efficiency of the service

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Philippines

Top e-commerce industries
24.3%
Electronics
19.1%
Hobby & Leisure
19.5%
Fashion
Furniture & Homeware
Care Products
DIY
Grocery
Manila
Capital
118.3M
Population
+8
Time Zone (GMT)
PHP (₱)
Currency
Philippine peso
$292.1B
Transactions
value in 2028
28.5%
CAGR
of Digital Payments
during 2024-2028

Popularity of e-commerce payment methods

Bank Transfer
16%
Buy Now Pay Later
1%
Cash-in
14%
Credit Cards
16%
Debit Cards & Prepaid Cards
16%
E-wallet
34%
Mobile Money
34%
Others
1%

Extend your reach

GCash is a popular e-wallet in the Philippines which is widely used by customers to send or receive funds, pay bills and shop online.

Method
GCash
LPM Market Share
63%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
E-wallet
Local Card Scheme
Users
76M
Disbursements
No
No
Chargebacks
$25.00
$25.00
Authorization currency
PHP
Authorization
speed
Instant
Recurring
No
No

GrabPay is a digital wallet offered by Grab.  GrabPay simplifies everyday transactions by seamlessly integrating payments into Grab’s ecosystem, allowing users to make cashless payments for Grab services (e.g., rides, food delivery), as well as for online and in-store purchases with other third-party businesses

Method
GrabPay
LPM Market Share
15%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
E-wallet
Local Card Scheme
Users
100M
Disbursements
No
No
Chargebacks
$25.00
$25.00
Authorization currency
PHP
Authorization
speed
Instant
Recurring
No
No

Maya is a popular e-wallet. It offers a widely used payment solution with a user-friendly payment process in the Philippines.

Method
Maya
LPM Market Share
37%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
E-wallet
Local Card Scheme
Users
44M
Disbursements
No
No
Chargebacks
$25.00
$25.00
Authorization currency
PHP
Authorization
speed
Instant
Recurring
No
No

InstaPay QR is a key feature of InstaPay, a real-time electronic fund transfer service in the Philippines. This system streamlines bank transfers between banks and e-wallets through a standardized QR code. By simplifying transactions, InstaPay QR delivers a seamless payment experience for both businesses and consumers, driving convenience and fostering greater financial inclusion across the country

Method
InstaPay (QR Ph)
LPM Market Share
16%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Bank Transfer
Local Card Scheme
Users
19M
Disbursements
Yes
Yes
Chargebacks
$25.00
$25.00
Authorization currency
PHP
Authorization
speed
Instant
Recurring
No
No

Pay by Bank (BPI, UBP, BDO, Metrobank, LandBank, RCBC) or Virtual Accounts in the Philippines are ad-hoc bank account details to receive bank payments to real bank accounts without sharing the underlying bank details. Each bank has their own system of creating and managing VAs.

Method
Pay by Bank (PH)
LPM Market Share
33%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
Bank Transfer
Local Card Scheme
Users
n/a
Disbursements
No
No
Chargebacks
$25.00
$25.00
Authorization currency
PHP
Authorization
speed
Instant
Recurring

Coins.ph is a versatile digital wallet and cryptocurrency exchange widely used in the Philippines. It allows individuals—from beginners to seasoned traders—to buy, send, and receive cryptocurrencies, pay bills, and purchase mobile load seamlessly.

Method
Coins.ph
LPM Market Share
n/a
Payments
Yes
Refunds
No - refunds not supported
Type
Others
Local Card Scheme
Users
18M
Disbursements
No
No
Chargebacks
$25.00
$25.00
Authorization currency
Authorization
speed
Instant
Recurring
No
No