Electronic fund transfers hit P7.15T from Jan.-April 2025
The value of electronic fund transfers coursed through PESONet and InstaPay reached over P7 trillion in the first four months of 2025, according to data from the Bangko Sentral ng Pilipinas (BSP).
The combined value of transactions through the BSP-National Retail Payment System-supervised automated clearing houses hit P7.15 trillion in January to April this year, up from P5.22 trillion in the same period in 2024.
The bulk of electronic fund transfers during the period were made through PESONet, amounting to P4.014 trillion, which is higher than the P3.122 trillion in PESONet transactions from January to April 2024.
InstaPay transactions, meanwhile, reached P3.13 trillion in the first four months of the year, up from P2.101 trillion year-on-year.
In April alone, the value of transactions through PESONet reached P1.011 trillion, up from P855.01 billion in the same month last year.
InstaPay transactions, on the other hand, stood at P841.11 billion in April 2025, higher than the P558.62 billion in transaction value seen in April 2024.
Launched in 2017, the Philippine EFT System and Operations Network, or PESONet, was the first automated clearing under the BSP's National Retail Payment System.
It is a batch electronic fund transfer (EFT) credit payment scheme, which can be considered an electronic alternative to the paper-based check system.
InstaPay is a real-time low-value EFT credit push payment scheme for transaction amounts up to P50,000.
Launched in 2018, it is designed to facilitate small-value payments that will be especially useful for the purchase of retail goods, paying toll fees and tickets, and for e-commerce, which shall enable, among others, micro, small, and medium enterprises (MSMEs). —VAL, GMA Integrated News
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