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PROSPECTS AND OPPORTUNITIES
Transition to open-loop cards offering greater convenience
The pre-paid card market in the Philippines continues to evolve with a shift towards greater flexibility. As digital banking and mobile wallets grow in prominence, traditional closed-loop systems are facing competition from open-loop alternatives, offering users more convenient, versatile payment options.
New players have potential to disrupt the market
Wise, a global financial technology company known for its money transfer services, has launched the Wise Prepaid Card in the Philippines. This card enables users to make international purchases without incurring foreign transaction fees or exchange rate mark-ups.
Surge in QR transactions signals potential shift away from pre-paid cards
The Philippines has witnessed a surging preference for digital payments over traditional methods like pre-paid cards, particularly for small-value retail transactions. According to the Bangko Sentral ng Pilipinas (BSP), the use of QR codes for secure payments has grown significantly, driven by the convenience and ease offered by this method.
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Overview:
Understand the latest market trends and future growth opportunities for the Pre-Paid Card Transactions industry in Philippines with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Pre-Paid Card Transactions industry in Philippines, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Pre-Paid Card Transactions in Philippines report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Pre-Paid Card Transactions in Philippines?
- What are the major trends key to understanding Pre-Paid Card Transactions in Philippines?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Charge Cards in the Philippines - Category analysis
Charge Cards in the Philippines - Company Profile
Charge cards remains a niche category in the Philippines
Significant development is unlikely over the forecast period
Credit Cards in the Philippines - Category analysis
Credit Cards in the Philippines - Company Profile
KEY DATA FINDINGS
Convenience and travel aspirations boost credit card usage
BDO retains its status as largest credit card issuer
Emergence of new players drives demand
Growth of credit cards will be driven by Gen Z adoption and technological innovations
BSP to address credit card fraud while promoting financial literacy
Players will flex their sustainability credentials
Table 1 Credit Cards: Number of Cards in Circulation 2019-2024
Table 2 Credit Cards Transactions 2019-2024
Table 3 Credit Cards in Circulation: % Growth 2019-2024
Table 4 Credit Cards Transactions: % Growth 2019-2024
Table 5 Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 6 Commercial Credit Cards Transactions 2019-2024
Table 7 Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 8 Commercial Credit Cards Transactions: % Growth 2019-2024
Table 9 Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 10 Personal Credit Cards Transactions 2019-2024
Table 11 Personal Credit Cards in Circulation: % Growth 2019-2024
Table 12 Personal Credit Cards Transactions: % Growth 2019-2024
Table 13 Credit Cards: Number of Cards by Issuer 2019-2023
Table 14 Credit Cards: Number of Cards by Operator 2019-2023
Table 15 Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 16 Credit Cards Payment Transaction Value by Operator 2019-2023
Table 17 Commercial Credit Cards: Number of Cards by Issuer 2019-2023
Table 18 Commercial Credit Cards: Number of Cards by Operator 2019-2023
Table 19 Commercial Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 20 Commercial Credit Cards Payment Transaction Value by Operator 2019-2023
Table 21 Personal Credit Cards: Number of Cards by Issuer 2019-2023
Table 22 Personal Credit Cards: Number of Cards by Operator 2019-2023
Table 23 Personal Credit Cards Payment Transaction Value by Issuer 2019-2023
Table 24 Personal Credit Cards Payment Transaction Value by Operator 2019-2023
Table 25 Forecast Credit Cards: Number of Cards in Circulation 2024-2029
Table 26 Forecast Credit Cards Transactions 2024-2029
Table 27 Forecast Credit Cards in Circulation: % Growth 2024-2029
Table 28 Forecast Credit Cards Transactions: % Growth 2024-2029
Table 29 Forecast Commercial Credit Cards: Number of Cards in Circulation 2024-2029
Table 30 Forecast Commercial Credit Cards Transactions 2024-2029
Table 31 Forecast Commercial Credit Cards in Circulation: % Growth 2024-2029
Table 32 Forecast Commercial Credit Cards Transactions: % Growth 2024-2029
Table 33 Forecast Personal Credit Cards: Number of Cards in Circulation 2024-2029
Table 34 Forecast Personal Credit Cards Transactions 2024-2029
Table 35 Forecast Personal Credit Cards in Circulation: % Growth 2024-2029
Table 36 Forecast Personal Credit Cards Transactions: % Growth 2024-2029
Debit Cards in the Philippines - Category analysis
Debit Cards in the Philippines - Company Profile
KEY DATA FINDINGS
Growth in debit cards reflects shift towards cashless economy
Digital banks drive surge in number of users
Security remains a key issue in debit card usage
Banks to enhance mobile payment apps to encourage usage
Emergence of new players will lead to more competitive financial landscape
New products will focus on luxury and sustainability
Table 37 Debit Cards: Number of Cards in Circulation 2019-2024
Table 38 Debit Cards Transactions 2019-2024
Table 39 Debit Cards in Circulation: % Growth 2019-2024
Table 40 Debit Cards Transactions: % Growth 2019-2024
Table 41 Debit Cards: Number of Cards by Issuer 2019-2023
Table 42 Debit Cards: Number of Cards by Operator 2019-2023
Table 43 Debit Cards Payment Transaction Value by Issuer 2019-2023
Table 44 Debit Cards Payment Transaction Value by Operator 2019-2023
Table 45 Forecast Debit Cards: Number of Cards in Circulation 2024-2029
Table 46 Forecast Debit Cards Transactions 2024-2029
Table 47 Forecast Debit Cards in Circulation: % Growth 2024-2029
Table 48 Forecast Debit Cards Transactions: % Growth 2024-2029
Pre-Paid Cards in the Philippines - Category analysis
Pre-Paid Cards in the Philippines - Company Profile
KEY DATA FINDINGS
Open-loop cards outperform their closed-loop counterparts
GCash and Maya drive growth through development of pre-paid wallets
Traditional banks discontinue certain pre-paid cards in light of mobile wallet growth
Transition to open-loop cards offering greater convenience
New players have potential to disrupt the market
Surge in QR transactions signals potential shift away from pre-paid cards
Table 49 Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 50 Pre-paid Cards Transactions 2019-2024
Table 51 Pre-paid Cards in Circulation: % Growth 2019-2024
Table 52 Pre-paid Cards Transactions: % Growth 2019-2024
Table 53 Closed Loop Pre-paid Cards Transactions 2019-2024
Table 54 Closed Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 55 Open Loop Pre-paid Cards Transactions 2019-2024
Table 56 Open Loop Pre-paid Cards Transactions: % Growth 2019-2024
Table 57 Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 58 Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 59 Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 60 Pre-paid Cards Transaction Value by Operator 2019-2023
Table 61 Closed Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 62 Closed Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 63 Closed Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 64 Closed Loop Pre-paid Cards Transaction Value by Operator 2019-2023
Table 65 Open Loop Pre-paid Cards: Number of Cards by Issuer 2019-2023
Table 66 Open Loop Pre-paid Cards: Number of Cards by Operator 2019-2023
Table 67 Open Loop Pre-paid Cards Transaction Value by Issuer 2019-2023
Table 68 Open Loop Pre-paid Cards Transaction Value by Operator 2019-2023
Table 69 Forecast Pre-paid Cards: Number of Cards in Circulation 2024-2029
Table 70 Forecast Pre-paid Cards Transactions 2024-2029
Table 71 Forecast Pre-paid Cards in Circulation: % Growth 2024-2029
Table 72 Forecast Pre-paid Cards Transactions: % Growth 2024-2029
Table 73 Forecast Closed Loop Pre-paid Cards Transactions 2024-2029
Table 74 Forecast Closed Loop Pre-paid Cards Transactions: % Growth 2024-2029
Table 75 Forecast Open Loop Pre-paid Cards Transactions 2024-2029
Table 76 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2024-2029
Store Cards in the Philippines - Category analysis
Store Cards in the Philippines - Company Profile
Financial Cards and Payments in the Philippines - Industry Overview
Financial cards and payments in 2024: The big picture
2024 Key trends
Gen Z drives expansion of credit card market
GCash and Maya lead mobile wallet revolution
What next for financial cards and payments?
Table 77 Number of POS Terminals: Units 2019-2024
Table 78 Number of ATMs: Units 2019-2024
Table 79 Value Lost to Fraud 2019-2024
Table 80 Card Expenditure by Location 2024
Table 81 Financial Cards in Circulation by Type: % Number of Cards 2019-2024
Table 82 Domestic versus Foreign Spend 2024
Table 83 Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 84 Financial Cards by Category: Number of Accounts 2019-2024
Table 85 Financial Cards Transactions by Category: Value 2019-2024
Table 86 Financial Cards by Category: Number of Transactions 2019-2024
Table 87 Consumer Payments by Category: Value 2019-2024
Table 88 Consumer Payments by Category: Number of Transactions 2019-2024
Table 89 M-Commerce by Category: Value 2019-2024
Table 90 M-Commerce by Category: % Value Growth 2019-2024
Table 91 Financial Cards: Number of Cards by Issuer 2019-2023
Table 92 Financial Cards: Number of Cards by Operator 2019-2023
Table 93 Financial Cards: Card Payment Transactions Value by Operator 2019-2023
Table 94 Financial Cards: Card Payment Transactions Value by Issuer 2019-2023
Table 95 Forecast Financial Cards by Category: Number of Cards in Circulation 2024-2029
Table 96 Forecast Financial Cards by Category: Number of Accounts 2024-2029
Table 97 Forecast Financial Cards Transactions by Category: Value 2024-2029
Table 98 Forecast Financial Cards by Category: Number of Transactions 2024-2029
Table 99 Forecast Consumer Payments by Category: Value 2024-2029
Table 100 Forecast Consumer Payments by Category: Number of Transactions 2024-2029
Table 101 Forecast M-Commerce by Category: Value 2024-2029
Table 102 Forecast M-Commerce by Category: % Value Growth 2024-2029
DISCLAIMER
Summary 1 Research Sources
The following categories and subcategories are included:
Pre-Paid Card Transactions
- Closed Loop Pre-Paid Card Transactions
- Open Loop Pre-Paid Card Transactions
Pre-Paid Card Transactions
A card paid for at point of sale, and permitting the bearer to buy goods or services usually of a particular type up to the pre-paid value. These cards acts as an alternative to cash. The card can be disposable or re-loadable.
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This report originates from Passport, our Pre-Paid Card Transactions research and analysis database.
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