Swiping values drop

While the central bank did not give reasons for the decline, analysts expect that the downtrend is linked to the tighter liquidity experienced in the financial sector, amidst the broader contraction in the economy. The lower figures could also be reflective of lower consumer spending and confidence, trends which are presently not scientifically monitored by data authorities in the country.

According to the BoB, quarterly average Electronic Fund Transfer at Point of Sale (EFTPOS or swiping) values declined to P21.4 billion last year, from an average of P30.2 billion in 2024. The number of transactions recorded in 2025 also declined compared to 2024, averaging 34 million from 63 million.