Digital Payments in the Philippines: QR Ph, Merchant Accounts & GCash IPO
Key Points
- Digital payments made up 64.7% of Philippine retail payment volume in 2025, and QR Ph transactions rose from 174.34 million to 2.47 billion
- A May 2026 BSP memo tells payment providers to separate merchant accounts from personal ones, which reaches sellers who collect sales into personal wallets
- Brands should route creator and reseller sales through QR Ph merchant codes and build campaigns around QR checkout
Digital payments are now the default for Philippine retail, led by QR Ph merchant payments
The Bangko Sentral ng Pilipinas (BSP) put digital payments at 64.7% of retail payment volume in 2025, up from 57.4% in 2024.
Merchant payments made up 74.31% of electronic transactions.
QR Ph, the national interoperable QR standard, went from 174.34 million transactions in 2024 to 2.47 billion in 2025¹ (Chart 1).
Filipinos trust the method more than they use it.
In the Southeast Asia Consumer Tech Trust Score 2026 by Vero and Kadence International, digital payments were the most trusted technology category in the Philippines, with a score of 81.8, and 89% of Filipino respondents expect to use them more.
Only 30% use them daily, the lowest of the six markets surveyed².
The largest wallet is about to become a listed company.
GCash, used by at least 94 million Filipinos, opens its share offer on 6 October and lists on the Philippine Stock Exchange on 20 October 2026³.
High trust and low daily use leave room for promotions that give shoppers a reason to pay by QR more often.
The BSP is drawing a firm line between merchant collections and personal wallets
In July the BSP and Philippine Payments Management Inc (PPMI) restated a split that dates from 2024.
QR Ph is for payments from a person to a merchant, with fees borne by the merchant.
InstaPay QR is for transfers between people.
By June 2026, QR Ph had processed more than 2.53 billion transactions worth over PHP1.14 trillion⁴.
Two newer rules build on that split.
According to a summary by PayMongo, a BSP-supervised payment provider, Memorandum M-2026-017, issued on 8 May 2026, requires payment providers to distinguish merchant accounts from personal accounts and to tighten controls on personal accounts used for business.
Circular 1238, in force since 4 July, requires merchant fees to rest on documented costs⁵.
Many creators, live sellers and resellers still take payment into a personal e-wallet and pass the brand's share on later.
Under M-2026-017 that is the setup providers are now expected to question, and a provider can ask the holder to reclassify the account or limit its use for sales⁵.
If that happens in the middle of a campaign, the sales channel stops with it.
Build creator commerce on QR Ph merchant rails before providers force the change
For a brand selling through creators, live sellers or resellers in the Philippines, the payment setup is now part of the partner contract.
Three changes are worth making before the year-end sales season.
Require resellers and live-selling partners to collect on QR Ph merchant codes registered to a business, not on personal wallets or person-to-person QR codes⁴,⁵.
Put it in the agreement, with a date.
Pay creator commissions from a business account with a clear payout record.
It keeps the brand's money trail separate from the creator's personal transfers if a provider reviews the account.
Build campaign mechanics around QR checkout: QR-only vouchers, e-wallet cashback, a live-selling code that works at a physical till as well as on screen.
With only 30% of Filipinos paying digitally every day, a promotion still has room to change the habit².
A practical first step is an inventory of current partners: who collects the money, into which account, and under whose name.
References
- Bangko Sentral ng Pilipinas, 2026 · https://www.bsp.gov.ph/PaymentAndSettlement/2025_Report_on_E-payments_Measurement.pdf
- Vero & Kadence International (The Manila Times), 2026 · https://www.manilatimes.net/2026/08/30/business/sunday-business-it/ph-ranks-3rd-in-asean-tech-trust/2414479
- Philstar, 2026 · https://www.philstar.com/business/2026/09/11/2555577/gcash-ipo-gets-sec-green-light
- Philippine News Agency, 2026 · https://www.pna.gov.ph/articles/1280598
- PayMongo, 2026 · https://www.paymongo.com/en-ph/blog/bsp-updates-2026
About MegaEvolution
MegaEvolution is a global influencer marketing agency and platform that connects brands with creators across borders. With local representation in core markets — including Japan, Korea, the United States, Vietnam, Thailand, the Philippines, Indonesia, China, Russia, and more — and services spanning numerous additional markets, we ensure seamless communication and collaboration between brands and creators worldwide.
Global reach. Local expertise. Let MegaEvolution elevate your brand worldwide.
Contact Us
- Official Website: https://www.megaevolution.io
- Contact Form: info@megaevolution.io
- Official Social Media: Instagram / LinkedIn
