Digital payments gaining ground as PhilPaSSplus transactions climb

The value and volume of transactions processed through the Bangko Sentral ng Pilipinas (BSP)’s Philippine Payment and Settlement System (PhilPaSS) plus rose in the third quarter of 2025, driven by higher activity in both large-value and retail payments.

- 

Based on the BSP’s latest report on economic and financial developments, the value of PhilPaSSplus transactions reached P151.3 trillion in the third quarter of 2025, 21 percent higher than the previous year’s P125.1 trillion.

The BSP attributed the increase mainly to a 19.3 percent rise in the value of large payments, specifically intra-account transfers. The value of retail payment transactions also increased by 12 percent, with automated clearing houses recording the fastest growth at 29.7 percent.

By value, large-value transactions dominated at 84.8 percent of total PhilPaSSplus activity. Transactions between participants and the BSP had the highest share at 59.4 percent, followed by foreign exchange settlements at 10.9 percent. Retail payments accounted for 13 percent of total value, with customer payments representing the largest share at 6.3 percent.