Cashless Payments in the Philippines – What are the Best E-Wallets for Filipinos?

Cashless Payments in the Philippines - What are the Best E-Wallets for Filipinos?

With most places in Luzon on enhanced community quarantine, Filipinos are relying on cashless payments more than ever. It’s highly recommended today, especially when you go to the grocery or pharmacy and pay at the counter or when paying for your food deliveries.

Filipinos have already been using e-wallets like GCash, Paymaya, and GrabPay to pay bills, transfer money, shop online, or buy apps and game credits. Not only because they’re convenient but because of their great features.

Let’s find out more about these e-wallets and why you should be using them today.

GCash – e-wallet available for all networks

GCash is a BSP-regulated mobile money service powered by Globe Telecom, which is available for download on the Google Playstore and the App Store.

Register using your mobile number and turn it into an e-wallet. Pay your bills, transfer money, get perks and discounts, and so much more.

GCash allows you to transfer money to several commercial banks such as AUB, BDO, LandBank, Maybank, Metrobank, PBCOM, PNB, PSBank, and RCBC.

Sending money to partnered banks has never been more convenient, and there’s no convenience fee as well. Money is sent real-time, or you can also schedule it via InstaPay.

You can pay via QR code to merchants, retailers, and establishments that accept GCash.

If you’re a business owner or self-employed and prefer to receive payments online, all you need is your mobile number.

GCash has also partnered with CIMB Bank. You can open a bank account for free and earn 4.1% with a GSave account.

To cash in money to your GCash wallet, you can do it via in-app bank transfers and machine cash-ins at selected convenience stores, supermarkets, and pawn shops.

If you don’t have a GCash account, sign up now. Registration is absolutely free.

PayMaya – mobile payment with a virtual card

PayMaya (formerly called Smart e-Money) is another BSP-regulated mobile payment wallet available at the Google Playstore and the App Store.

Aside from paying bills online, you can also use PayMaya to pay merchants and establishments that accept PayMaya via QR code.

Register via in-app with your mobile number and get the virtual card. There’s also the option to get the physical prepaid card for a fee.

Just like GCash, PayMaya also allows you to send money to other banks, but transfer fees may apply.

It’s easy to add money or cash-in to your account, too. Simply link your bank account and transfer funds directly, with amounts ranging from P500 up to P20,000.

Other ways to add money can be through linking your debit or credit card or by visiting any of the money partners (Western Union, Ministop, TouchPay, Shopwise, etc.).

Verify and upgrade your account to enjoy its full features. It’s free, as long as you submit the documents for account upgrade.

Aside from buying cellphone load, you can also book flights and movie tickets, buy games, and enjoy cashback promos from participating merchants.

For business owners and self-employed individuals, there’s a host of enterprise solutions for you to explore to digitize your payments.

Activate your online payment card number so you can use it for online shopping without a debit or credit card.

Maintain a minimum of P100 in your PayMaya e-wallet to enjoy the perks! Download the app and register for free.

Coins.PH – cryptocurrency coins and mobile payments

Coins.PH is a BSP-regulated mobile wallet that can hold both cryptocurrencies and Philippine Peso.

You can download it for free on the Google Playstore and the App Store. Send, receive, and store virtual currencies like Bitcoin, Ethereum, and the Philippine Peso, which you can also use to pay bills and shop online.

Initially, Coins.PH was made for virtual currencies like Bitcoin (for buying, selling, and holding), until it transformed into a digital wallet that can accommodate bills payments, bank transfers, and e-load and game credit purchases.

As of this writing, Coins.PH allows users to send and receive virtual currencies like Bitcoin, Ethereum, Ripple, and Bitcoin Cash.

Cash-in methods are available so you can easily transfer funds from and to other digital wallets and bank accounts.

You can cash in at Western Union, M Lhuillier, 7-Eleven, and at CLiQQ kiosks. It also supports cash-ins using other wallets like GCash and Paymaya, and online banking (AUB, BPI, China Bank Savings, Eastwest Bank, just to name a few).

Aside from these features, you’ll enjoy cashback and promos for online bills. You can also upgrade your account to unlock the Level 2 limit.

Level 2 limit allows cash-ins and cash-outs of up to P50,000 per day. Submit the required documents to unlock each level. You can download the app today and register for free.

GrabPay – e-wallet for Grab transactions

GrabPay is a BSP-regulated e-wallet by Grab that allows users to pay for services like GrabExpress or GradFood with GrabPay credits.

It’s available within the Grab app, and you can top up using the Grab Rewards you earn.

You can also link a debit or credit card, or top up through your Grab driver, via online banking, or through ATM.

From booking your ride to food delivery and load purchases, you can use GrabPay anywhere.

It can pay for your hotel bookings via Agoda and, too.

GrabPay supports bills payment, although it has a limited list of billers (for now it’s just Cablelink, Cignal TV, Easytrip, Globe, Meralco, Smart, etc.).

You can also pay for your SSS and PAG-IBIG contributions or reload your Easytrip account.

There are two ways to pay merchants and establishments that accept GrabPay. You can scan their QR codes or use the swipe-up option to show your QR code to cashiers.

If you’re feeling generous, you can also make donations through GrabBayanihan. Your donation will be sent to the Philippine Red Cross.

Aside from the e-wallet features, you can use your GrabRewards points to claim items or get discounts (e.g. 100,000 points for Rayban sunglasses, 220,000 points for Nintendo Switch).

Reward points are accumulated based on Grab transactions you make. Download the app and register for free.

Other E-Wallets and Mobile Payments for Filipinos

There are other e-wallets out there that you can also use for online shopping, such as Lazada e-wallet and Shopee e-wallet.

You’ll also enjoy discounts and cashbacks if you use them within the e-commerce ecosystems.

However, these exclusive e-wallets don’t support bills payment, online banking, and other features like the BSP-regulated digital wallets mentioned above.

Which e-wallets are you already using? Do you have a favorite? Let us know in the comments!