QR Ph now leads digital payment volume among PH Businesses

QR Ph has emerged as the leading payment method among Philippine businesses using PayMongo, accounting for 55 percent of total payment volume in the first half of 2026, according to data released by PayMongo Group.

The figure marks a sharp increase from 2025, when QR Ph represented only 16 percent of total payment volume on the platform. PayMongo said QR Ph has now overtaken cards and e-wallets, which accounted for 19 percent and 21 percent, respectively.

PayMongo Group, a fintech company that provides financial operating systems for businesses, said it processed nearly 10 million completed transactions from January to June 2026, almost double the volume recorded during the same period last year.

The company said its merchant base grew by 93 percent year-on-year, while transaction volume rose by 89 percent from nearly 5.2 million transactions processed in the first half of 2025.

PayMongo said QR Ph and e-wallets now make up 76 percent of total payment volume and nine in 10 transactions, showing a stronger shift toward mobile-first digital payments among merchants and customers.

Cards, meanwhile, still accounted for 19 percent of payment volume but represented only seven percent of total transactions. PayMongo said this suggests that cards remain commonly used for higher-ticket payments such as corporate expenses, travel transactions, and large one-time purchases.

QR Ph transactions on the platform grew by more than 510 percent year-on-year, while card volume declined by eight percent and online banking dropped by 26 percent.

PayMongo said the growth was driven by businesses across online stores, physical retailers, service businesses, and enterprises that embedded the company’s payment infrastructure directly into their customer-facing platforms.

The company also noted the growing demand for easier e-commerce checkout tools. Merchants using Shopify grew 18 percent year-on-year, with payment volume up six percent. PayMongo Pages, its no-code payment page product, also allowed merchants to collect almost a billion pesos in payments without building their own websites or checkout systems.

In physical stores, PayMongo said in-store QR Ph transactions more than tripled year-on-year, indicating that QR-based payments are also gaining traction beyond online platforms.

PayMongo said the results point to a wider shift in how Philippine businesses accept payments, with QR Ph becoming a key channel for both online and in-store transactions.