InstaPay and PESONet transactions recorded a record high of $296.8B, which has indicated a fast-growing banking and finance industry in the Philippines.

Philippines have witnessed a tremendous growth in digital payment platforms that has marked an ethical momentum towards the banking and finance sector. Combinations between the use of InstaPay and PESONet reached 296.8 billion (₱17.46 trillion) from January to September 2025, equivalent to an annual growth of 41.1 percent, according to both BancNet and the Philippine Clearing House Corporation data.

The volumes of transactions were also increasing, and the figures stood at 2.89 billion transactions compared to 974.41 million transactions in the same year in 2011. InstaPay was the first mover, with a value increase of 54.5 percent, YoY, to 135.2 billion (₱7.95 trillion) and an unbelievable rise in transaction volume of 2.80 billion.

PESONet came in with a more moderate increase in value of 31.7% YoY, which also reached 135.2 billion (₱7.95 trillion), and a 16.2 percent increase in the volume of transactions to 85.93 million.

The analysts indicate that this expansion highlights the high rate at which the Philippine market is adopting the digital banking services, and as a result, it is an indicator of consumer confidence and government push towards financial inclusion. The trend identifies the essentiality of digital infrastructure in the contemporary banking and finance sector and its capacity to hasten economic operations.

The historic performance of InstaPay and PESONet confirms the role of the Philippines in becoming one of the top destinations in digital payments within the Southeast Asian region, and the industry is expected to be further innovative and grow the banking and finance ecosystem.