Users of various mobile payment apps in Philippines in 2020, with forecasts to 2025
The number of mobile subscribers of Globe Telecom alone was already over 90 million in 2020. Indeed, the m-commerce penetration in the Philippines was higher than that of most other countries in the Asia-Pacific region in 2020.
Domestic wallets GCash and PayMaya are expected to have many more users than superapp GrabPay or PayPal come 2025. The growth of Singapore's GrabPay is believed to be relatively higher, although the source does not believe it will be overtaking either of the mobile wallets created by Philippine mobile operators Globe Telecom and Smart Communications. These two telco companies form a duopoly within the country: