Known for their love of shopping, Filipinos are increasingly turning to buy now, pay later schemes, with the market projected to reach $8.9 billion or ₱557.9 billion in 2026 based on industry data cited by the Bangko Sentral ng Pilipinas (BSP).
Buy now, pay later, or BNPL, allows consumers to divide purchases into installments over a typically short period without relying on a traditional credit card. Popular BNPL options in the Philippines include Billease, Atome, GCash’s GGives, SPayLater and LazPayLater, which are available across digital platforms and shopping apps.
As digital spending continues to expand, the BSP said the market could grow by 20.7% year over year, driven by the rise of e-commerce, digital payments, banking services and demand for more flexible payment options.
The BSP expects BNPL adoption to keep growing over the medium term as more purchases and financial transactions shift to digital channels. Industry projections estimate that the market could reach $18.8 billion by 2031 (about ₱1.18 trillion), equivalent to a 16.1% compound annual growth rate during the period.
Digital payments accounted for 64.7% of Philippine retail transaction volume in 2025, up from 57.5% the previous year. The increase enabled the BSP to hit its digital payments target for the first time, further strengthening the cashless ecosystem supporting BNPL growth.
Most BNPL providers in the Philippines operate under the supervision of the Securities and Exchange Commission, which regulates lending and financing companies offering such services. The BSP, meanwhile, oversees nonbank credit card issuers that provide card-based or similar products and monitors their lending and consumer protection practices.
The Financial Consumer Protection Act applies to all BNPL providers, requiring fair treatment, transparency, data privacy and complaint-handling mechanisms. Providers may also access the Credit Information Corp.’s registry to check borrowers’ loan exposure across institutions before granting credit, helping lenders gauge overall debt and curb excessive borrowing.
