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Home » Philippines Report


Cards, Payments & Consumer Banking

Author: Lafferty Research

Publishing date: Fenruary 2018

A comprehensive overview of the cards, payments and consumer banking market in the Philippines.

Philippines Research Summary Highlights

  • Financial inclusion remains low in the Philippines with only around a third of adults having a bank account.
  • The central bank launched the National Retail Payment System (NRPS) in December 2015, aiming to increase the proportion of electronic payments carried out in the country from one percent to 20 percent by 2020.
  • Initiatives such as consolidation of the country's three ATM networks into one are making payments interoperable and more user-friendly.
  • Consumer indebtedness is low by international standards. Total consumer credit as a percentage of personal disposable income stood at 13.4 percent at the end of 2017.
  • In mid-2017, the country introduced regulations for the credit card industry. Prior to this, credit card issuers and acquirers were not subject to any specific laws.
  • The Credit Card Association of the Philippines (CCAP) launched the 'Inter-bank Debt Relief Programme' (IDRP) in 2016 to assist financially distressed cardholders and to recover unpaid debt.

Available for 72 markets, Cards & Payments Research Service Country Reports deliver invaluable market and competitor intelligence on payments cards, e-money, acquiring/processing, retail banking, and consumer credit, plus the key demographic and economic trends shaping each market.

A dedicated team of analysts and researchers use both primary and secondary source data, and conduct in-depth interviews with senior industry executives and experts; each report includes over 320 metrics.


Credit Cards:
We have industry leading credit card coverage. We detail the past present and future of the industry through our data and commentary, including:

  • Market size split by consumer and commercial credit cards: number of cards, transaction volume, billed volume
  • Profit pool analysis
  • Competitive landscape: networks, issuers

Debit Cards:

  • Market size: number of cards, transaction volume, billed volume
  • Competitive landscape: networks, issuers

Prepaid Cards:

  • Market size: number of cards, transaction volume, billed volume

Merchant Acquiring

  • Competitive Landscape
  • Pricing
  • Processing Relationships

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