About 202 wordsLess than 1 minute
2025-03-07
The e-commerce and payment market in the Philippines presents unique and dynamic characteristics:
Rapidly growing e-commerce market: - One of the fastest-growing e-commerce markets in Southeast Asia - Annual growth rate of 25% - Growth is mainly driven by high internet usage and mobile device penetration
Mobile-driven market: - E-commerce heavily relies on mobile devices - Reflects Filipino consumers' preference for mobile technology
Low credit card adoption: - One of the countries with the lowest credit card penetration rates in Southeast Asia - Traditional payment methods remain common
Rapid development of digital wallets: - Digital wallets are gaining recognition - GCash has reached 30 million users, a 33% increase from 2019