5 Key Insights for Payments and More Heading Into 2025

As 2025 begins, the finance and payments landscape in the Philippines continues to evolve. People’s spending habits change, new technologies emerge, and businesses adapt to offer new solutions to emerging challenges. 

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At eTap, part of our dedication to providing excellent service includes staying aware of trends and using insights to better meet customer needs. Based on both external research and internal data, here are quick insights on payments and more to ring in the new year. 

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1️⃣ Growing trust in eWallets

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If digital wallets were once an emerging tool, today they are a solid part of Filipinos’ daily lives. As reported by the Philippine Daily Inquirer, citing a report by analytics firm Adjust, Filipinos spent nearly 15 minutes per session on digital finance apps in Q2, compared to the global average of 6.38 minutes. 

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eTap is deeply attuned to the widespread adoption of e-wallets, with a significant portion of customers relying on eTap kiosks for seamless and secure top-ups.

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2️⃣Cross-border e-commerce will be a gamechanger 

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Filipinos are continuing to shop online, even beyond the country’s borders. Visa’s Green Shoots Radar Survey shows that the number of Filipino cross-border e-commerce shoppers increased from 27% in 2023 to 32% in 2024.  

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Shoppers need solutions to ensure seamless, secure transactions. Fortunately, digital purchases are showing it can be done.

With more Filipinos purchasing digital items like in-game content for Chinese-developed titles such as Genshin Impact and Mobile Legends, eTap allows gamers to top-up in-game wallets through their kiosks—enabling businesses to cater to this growing market with eTap kiosks. 

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3️⃣New key segments will drive service innovations

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Studies by the BSP previously showed that young women were the primary drivers of digital payments in the Philippines. However, eTap Solutions has observed that digital payments are becoming crucial to the livelihood of a new segment: food delivery and mototaxi riders. 

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These riders are driving demand for flexible, real-time financial services to manage their earnings and expenses, with many of them using eTap machines to remit their earnings at the end of a working day. eTap even has a dedicated rider community on Facebook with over 3,500 members to give riders accessible solutions for their specific concerns.

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Additionally, while eTap is ready to support digital payments, cash payments are still important. According to Visa’s 2024 Consumer Payment Attitudes study, 87% of payments in the Philippines are still done in cash. Using eTap’s cash-in machines, riders can remit these cash payments back to their companies in real-time.

4️⃣Remittances will continue to be important

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2024 saw a boost in remittances to the Philippines, owing to faster growth in advanced economies. The Bangko Sentral ng Pilipinas (BSP) reported that June 2024 cash remittances via banks reached $2.88 billion, a 2.5% year-on-year increase.

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Domestic remittances are as important as international remittances. Past BSP reports have found that among remittance recipients, 48% received funds from domestic sources, another 48% from foreign sources, and 4% from both. E-wallets have proven especially relevant for domestic remittances, simplifying the process of sending money. With eTap kiosks, this becomes even more convenient.

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5️⃣AI: a double-edged sword

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Computer security company McAfee has warned that between creating deepfake videos and hyper-personalized phishing attacks, cybercriminals have unfortunately discovered AI is a powerful tool for their activities. 

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But AI is also a defense tool. Financial companies using AI for real-time monitoring and  fraud detection, alongside traditional security measures, will lead the way in protecting users and addressing AI-driven threats.
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As we welcome 2025, the above presents both opportunities and challenges. At eTap, we are ready to embrace innovation and continue building trust with our customers. 
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What are your insights for the finance and payments industry in 2025? Share your thoughts with us—we’d love to hear from you!
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By Pancho Dizon (Comms Head)
Thumbnail by Benjamin Santos (Senior Graphic Designer)

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