Users of various mobile payment apps in Philippines in 2020, with forecasts to 2025

Published by Statista Research Department, May 29, 2024
Domestic wallets GCash and PayMaya are expected to have many more users than superapp GrabPay or PayPal come 2025. The growth of Singapore's GrabPay is believed to be relatively higher, although the source does not believe it will be overtaking either of the mobile wallets created by Philippine mobile operators Globe Telecom and Smart Communications. These two telco companies form a duopoly within the country: The number of mobile subscribers of Globe Telecom alone was already over 90 million in 2020. Indeed, the m-commerce penetration in the Philippines was higher than that of most other countries in the Asia-Pacific region in 2020.

Number of users of selected mobile wallets in the Philippines in 2020, with forecasts from 2021 to 2025 (in millions)

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Sources

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Release date

October 2021

Region

Philippines

Survey time period

May 2021

Special properties

The source does not provide any information regarding consumers using more than one app at the same time. It may, therefore, be that the total users of all apps combined is higher than the country's population

Supplementary notes

The source explicitly states that "we look (...) only for open wallets, ie those that have the ability to make payments on multiple sites, rather than in reference to an ability to transfer funds between different wallets. Thus we do not focus on transactions conducted via cards stored by a retailer purely for use on that retailer’s website or mobile app."

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