From 1% to 30%: The Journey of the Philippines towards responsible Digital Payments

In 2013, digital payments accounted for only 1 percent of total payments by volume in the Philippines. By 2020, the country had surpassed its original target of 20 percent, with digital payments accounting in 2021 for an impressive 30 percent of total payment volume. This case study examines the success story of the Philippines by diving into the key decisions made by the government and private sector in accelerating the adoption of responsible digital payments, including: 1) Continuous evaluation of progress against transparent targets 2) Proactive policymaking to satisfy evolving needs 3) Institutionalizing data systems and building internal capacity to collect and analyze data