‘Philippines emerges as battleground for faster, cheaper digital remittances’MANILA, Philippines — As the Philippines cements its position as one of the world’s largest remittance destinations, global financial institutions are doubling down on efforts to support the country’s rapidly evolving digital payments landscape. J.P. Morgan sees the Philippines at the center of Asia’s cross-border remittance growth, driven by the surge of digital wallets, instant payment schemes and new consumer expectations for speed and transparency. “Our approach is to help our clients provide cash management services, payments capabilities where they can leverage banks’ rails to collect money from the senders,” he said. “People who are in remote areas are not easily able to access the financial ecosystem but they can actually do it by leveraging individual wallet capabilities,” he said. “On one hand, yes, the growth is important, real-time payments are already here, wallet capabilities are already there.

Source: Philippine Star January 10, 2026 16:48 UTC