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The value of electronic fund transfers coursed through the PESONet and InstaPay jumped by 30.1 percent to hit P3.81 trillion in the first four months of the year from P2.92 trillion in the same period last year, as more Filipinos turn to digital channels for their financial transactions.
The Philippines continues to catch up with digitalization in Southeast Asia as electronic fund transfers in the country rose by 34.5 percent in the first two months of the year, according to the Bangko Sentral ng Pilipinas.
The value of electronic fund transfers coursed through the PESONet and InstaPay surged by 37.3 percent to P9.94 trillion last year from P7.24 trillion in 2021 as more Filipinos embrace digitalization, data from the Bangko Sentral ng Pilipinas showed.
The value of electronic fund transfers coursed through the PESONet and InstaPay jumped by 38 percent to P8.89 trillion from January to November last year from a year-ago level of P6.45 trillion as more Filipinos embrace digitalization, according to the Bangko Sentral ng Pilipinas.
Combined transactions volume jumped 24% on-year to 348 million compared to the same period last year.