Digital payment now make up a third of retail transactions – BSP

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By Philstar

The share of digital payments to total retail transactions jumped to 30.3 percent last year from 20.1 percent in 2020 as more Filipinos embraced digitalization amid the pandemic, according to the Bangko Sentral ng Pilipinas (BSP).

This means that the share of electronic payments to retail transactions need to jump by another 19.7 percent over the next two years to meet the 50 percent target set by the central bank under its Digital Payments Transformation Roadmap.

BSP Governor Felipe Medalla is optimistic that the target under the roadmap would be achieved.

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