Filipinos are increasingly ditching cards and e-wallets in favor of QR code payments, at least among businesses using PayMongo’s payment services.
The company’s internal data shows that QR Ph accounted for more than half (55%) of all payment volume on its platform during the first six months of 2026. That is a massive jump from just 16% during the same period last year.
Cards now make up only 19% of payment volume, while e-wallets sit at 21%. Other payment methods like online banking and buy now, pay later services combined account for less than 5%.
PayMongo processed close to 10 million transactions between January and June this year. That is nearly double the 5.2 million transactions recorded in the first half of 2025. The company also saw its merchant base grow by 93% over the same timeframe.
What is driving this change? According to PayMongo, people are using QR codes and e-wallets for everyday purchases like food delivery, utility bills, and small retail items. Cards, on the other hand, are mostly reserved for big-ticket purchases and business expenses.
The data backs this up. While QR and e-wallet payments made up 76% of total payment volume, they represented nine out of every ten transactions. Cards accounted for just 7% of transactions despite taking up nearly a fifth of the total value.
For physical stores, the numbers were even more striking. Businesses using PayMongo’s in-store QR Ph product more than doubled from last year, while transactions using that feature grew three times over.
The company said these developments align with the central bank’s goals to expand digital payment usage across the country.
Source: PayMongo