The use of QR Ph, the Philippines’ national QR code standard, is experiencing significant growth in the country, with payments made through the platform surpassing cards and e-wallets in transaction volume for the first half of the year, according to data from a financial technology company.
PayMongo reported a substantial increase in completed transactions through its platform, with a 89% year-over-year growth to nearly 10 million in the first semester, and a 93% expansion of its merchant base.
The growth can be attributed to rising adoption among various types of businesses, including online stores, physical retailers, service businesses, and enterprises, which have integrated PayMongo into their customer-facing platforms.
QR Ph accounted for 55% of total payment volume on the platform, overtaking e-wallets (21%), cards (19%), and online banking (4%), with a significant increase from its 16% share in 2025.
The platform's dominance is evident in the fact that QR Ph commands more than half of the payment volume, with a year-over-year growth of over 510%, while cards have declined in both share and absolute volume, down 8% year over year.
The number of merchants processing payments through PayMongo’s in-store QR Ph product has more than doubled from a year ago, with transaction volume more than tripling.
Everyday transactions, such as sari-sari store top-ups, food delivery purchases, and utility bill payments, have largely shifted to mobile-native payment methods, reflecting a shift towards a more mobile-first approach.
The interoperability of QR Ph has facilitated adoption by making it easier for small businesses to accept and consolidate digital payments, further accelerating the growth of the platform.
Cards, on the other hand, account for just 7% of all transactions despite making up 19% of total payment volume, with the average card transaction being significantly higher in value than QR or wallet payments.
The largest merchants by payment volume on the platform are those that have built the platform directly into their websites and apps via APIs, while Shopify merchants have experienced an 18% year-over-year growth with payment volume up 6%.
