Fintech adoption rate to hit 80%

The adoption of financial technology services through mobile applications in the Philippines is expected to reach almost 80 percent by yearend as more Filipinos ride on the digital wave.

- LOUISE MAUREEN SIMEON

A recent analysis by consumer finance firm Digido showed that the fintech adoption rate among Filipinos aged 15 and above will hit 79.5 percent or 66.4 million users by the end of 2024.

This is an improvement from the 72.2 percent adoption rate last year.

Digido said the most significant growth is expected from the digital commerce segment with 34 percent, followed by digital wallets with 27.2 percent and digital banking with 8.6 percent.