By Luisa Maria Jacinta C. Jocson, Reporter
THE PHILIPPINES achieved its target of digitizing 50% of all retail payments at the end of 2023, amid the rise in merchant payments, the Bangko Sentral ng Pilipinas (BSP) said.
The BSP’s 2023 Status of Digital Payments in the Philippines report released on Tuesday showed that the share of online payments in the total volume of monthly retail transactions rose to 52.8% in 2023 from 42.1% a year earlier.
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