QR Ph accounted for 55% of payment volume processed on PayMongo’s platform in the first half of 2026, overtaking cards and e-wallets among merchants using the fintech firm’s payment system, according to the company’s internal transaction data.
The figures, however, reflect PayMongo’s own merchant base and do not represent the entire Philippine payments market.
In a report released this week, PayMongo said QR Ph’s share of payment volume on its platform jumped from 16% in the first half of 2025 to 55% in the same period this year, marking more than 510% year-on-year growth.
Cards accounted for 19% of payment volume, while e-wallets made up 21%. Online banking and buy now, pay later transactions together contributed less than 5%.
The company processed nearly 10 million completed transactions from January to June 2026, up 89% from around 5.2 million a year earlier. Its merchant base also grew 93% year on year, according to the report.
PayMongo said QR Ph and e-wallets together accounted for 76% of payment volume and nine out of 10 transactions on its platform, suggesting that small-value, everyday purchases are increasingly shifting to mobile-first payment channels.
Cards, while still responsible for nearly a fifth of payment volume, represented only 7% of transactions, indicating that they are being used more for higher-value purchases than for routine spending.
PayMongo said card payments remain common for large one-time purchases and corporate expenses, while QR and wallet payments are increasingly being used for transactions such as food delivery, utility bills, and small retail purchases.
The report also pointed to a broader shift among merchants toward digital payment tools that require little or no technical integration.
PayMongo said merchants using Shopify on its platform grew 18% year on year, while payment volume from that segment rose 6%.
It also said its no-code PayMongo Pages product processed nearly P1 billion in payments during the period.
In physical stores, the company said merchants using its in-store QR Ph product more than doubled from a year earlier, while in-store QR Ph transactions grew more than threefold year on year.
PayMongo said the trend is consistent with the Bangko Sentral ng Pilipinas’ push for wider digital payment adoption.
