InstaPay, PESONet transactions rise

THE VALUE of transactions made via InstaPay and PESONet grew by 40.32% year on year at end-July, data from the Bangko Sentral ng Pilipinas (BSP) showed.

- Katherine K. Chan

Transactions coursed through the two automated clearing houses soared to P13.26 trillion in the first seven months from P9.45 trillion in the same period last year.

Meanwhile, the volume of transactions done through InstaPay and PESONet more than doubled to 1.96 billion as of July from 786.16 million a year ago.

Broken down, the total value of InstaPay transactions reached P5.96 trillion in the seven-month period, up by 52.82% from P3.9 trillion the year earlier.

The volume of transactions done through InstaPay surged by 159.15% to 1.89 billion from 729.32 million a year ago.

Meanwhile, the value of transactions coursed through PESONet amounted to P7.3 trillion in the first seven months, jumping by 31.3% from P5.56 trilliona year ago.