The Philippines is emerging as a leader in digital payment solutions in Southeast Asia, according to UnaCash.
As of July 2024, the country has achieved a remarkable 33.1% share of point-of-sale (POS) users aged 15 and older.
This figure represents a significant increase from just 3.2% in September 2018, largely driven by the growth of mobile commerce and the proliferation of POS kiosks.
Indonesia leads the region with a dominant 67.5% share in POS usage, benefiting from advanced cloud technology and a robust e-commerce sector.
In contrast, Vietnam, Malaysia, and Singapore show lower POS adoption rates at 4.5%, 2.8%, and 1.6%, respectively, indicating room for growth in their markets.
UnaCash also reports a surge in buy now, pay later (BNPL) services, which have increased by 9.6 times since 2018, with a current user share of 24.7%.
This trend highlights a growing consumer preference for flexible payment options in the Philippines’ evolving digital economy.
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