Filipinos are allocating more of their time to using electronic wallet applications in 2022 as the country rides the wave of digital services, according to consumer finance firm Digido. The analysis covered 14 firms operating in the Philippines that have applications both in iOS and Android, and showed there were over 58 million active users in the Philippines who spent a total of 4.4 million hours using e-wallet applications in 2022. Digido estimated that the total number of accounts of the 14 examined apps could reach 81 million users by 2025, attributed to the expected rise in the country’s population, especially those aged 15 years and above. Such growth is also due to the global demand for electronic money, which is expected to grow from 2023 to 2025.
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