Digital payments continue to rise in Philippines

MANILA, Oct. 10 (Xinhua): Digital payments continue to rise in the Philippines, exceeding the central bank's target to reach 20 percent of all monthly payments volume by 2020, the Philippine central bank has announced.

In a statement, the Bangko Sentral ng Pilipinas (BSP) said that 20.1 per cent of monthly payments volume is done digitally by the end of 2020, a substantial improvement from the 2020 first semester estimates, which pegged digital payments volume at 17 percent.