Philippine Fintech and Financial Inclusion Advance in 2026

Personal remittances to the Philippines surpassed $40 billion in 2025, making them a key pillar of the country’s economy. To promote financial inclusion, the Bangko Sentral ng Pilipinas, or BSP, has actively expanded digital payments, turning digital wallets into an entry point to the financial system for unbanked people. The shift has reduced cross-border remittance costs and prompted traditional money-transfer services to evolve into broader financial ecosystems that include savings and microinsurance.

By early 2026, 58% of adults in the Philippines had formal financial accounts. The BSP is working toward its 2028 target of 80% account ownership and digital transactions. In 2026, local digital-wallet provider Maya partnered with the Land Transportation Franchising and Regulatory Board, or LTFRB, to distribute government fuel subsidies directly to drivers’ digital wallets, further expanding the practical uses of digital finance.