From 1% to 30%: The Key Drivers behind the Philippines' Acceleration towards Responsible Digital Payment Systems
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.
A founding member of the Better Than Cash Alliance, the Philippines has paved the path in transitioning to responsible digital payments, providing many key lessons and insights for other countries embarking on a similar journey.
In 2013, digital payments accounted for only 1% of total payments by volume in the Philippines. By 2020, the country had surpassed its original target of 20%, with digital payments accounting in 2021 for an impressive 30% 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:
- Continuous evaluation of progress against transparent targets
- Proactive policymaking to satisfy evolving needs
- Institutionalizing data systems and building internal capacity to collect and analyze data
The UN-based Better Than Cash Alliance is a partnership of governments, companies, and international organizations that accelerates the transition from cash to responsible digital payments to advance the Sustainable Development Goals.
Contents
- Introduction
- Evaluate against Transparent Targets
- Proactive Policymaking
- Institutionalizing Data Systems and Investing in Capacity
- Takeaways for Aspiring Governments
Published May 2023.
