PayMongo's digital payments surge 89% as in-store QR use triples

PayMongo recorded 10 million transactions in H1 2026, compared to 5.2 million a year ago.

More businesses in the Philippines are taking up digital payments in the first six months of 2026, with PayMongo recording an 89% increase compared to a year earlier.

PayMongo’s infrastructure recorded nearly 10 million completed transactions from January to June 2026, compared to 5.2 million transactions during the same period in 2025.

The merchant base driving this volume spans online stores, physical retailers, service businesses, and enterprises, PayMongo said in a report published on 2 July.

In-store QR PH transactions more than tripled in the H1 period, it said.

“The merchants on PayMongo in 2026 are as likely to be a local neighborhood store collecting QR payments as they are a funded startup running transactions through an API-integrated checkout,” the report said.

Over half of Filipinos are said to now own a formal financial account, based on a survey by the local Social Weather Stations (SWS) in May 2026.

The Philippine central bank recently revised its payments framework, mandating that interbank fees for person-to-person electronic payments should not be different from transfer fees charged.