Philippines banks expand Apple Pay support as digital payments adoption grows

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Apple Pay growth in Philippines

Highlights

Four banks in the Philippines support Apple Pay, with four more expected by November and additional banks joining in early 2025.
Digital payments are projected to reach 64.7% of total retail payment volume in the Philippines in 2025, up from 57.4% in 2024.
Mastercard signed an MoU with the Department of Trade and Industry to help MSMEs access digital payment solutions and build e-commerce capacity.

Bank rollout timeline and payment uptake

As reported by BusinessWorld Online, Mastercard Philippines Country Manager Jason Crasto says four banks have already gone live with Apple Pay support, another four are expected around November, and a third phase of bank launches is likely within the first quarter of next year.

Crasto says transaction growth should accelerate next year as more issuers and consumers begin using the service. He says adoption among banks that have already launched has been encouraging, with wider participation expected to drive an organic increase in Apple Pay transactions.

Apple Pay went live in the Philippines in August, with China Banking Corp., GoTyme Bank Corp., Metropolitan Bank & Trust Co., and Union Bank of the Philippines among the supported banks at launch. Philippine National Bank also announced this month that its Mastercard credit and debit cards are now ready for use on Apple Pay.

Digital payments momentum and MSME push

Crasto says broader Apple Pay usage is likely to reinforce growth in digital payments in the Philippines, including card-based transactions. He says the country’s young and digitally savvy population is already helping build momentum across payment formats such as wallets and cards.

Bangko Sentral ng Pilipinas data show digital payments make up 64.7% of the total volume of retail payments in the Philippines in 2025, up from 57.4% in 2024. That is the first year the share settles within the central bank’s target, and under the Philippine Development Plan, the BSP wants digital payments to account for 60% to 70% of total retail payment volume by 2028.

Separately, Mastercard signs a memorandum of understanding with the Department of Trade and Industry, through its E-commerce Bureau, to support Filipino micro, small, and medium enterprises. The partnership aims to develop initiatives that give MSMEs practical knowledge, capacity-building opportunities, and access to relevant digital payment solutions.

DTI E-commerce Bureau Director Eryl Royce R. Nagtalon says many small businesses are already selling online but still need more confidence in accepting payments and engaging with customers safely and securely. He says the collaboration with Mastercard is intended to help bridge that gap.

In our earlier article on cash-on-delivery’s continued dominance in Philippine e-commerce, we noted that COD still takes a sizable share of online payments even as QR codes and bank transfers surge. We also highlighted that many shoppers abandon purchases when their preferred payment method isn’t available, increasing pressure on merchants to offer broader, safer payment choices as the country’s digital payments share climbs.

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