The volume and value of digital financial transactions rose by nearly a fifth in April from March, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.
“A significant growth rate took place in April where the ECQ (enhanced community quarantine) was in effect which is three times that of the growth rate during the first quarter averaging only 6% in terms of volume and 5% in terms of value,” BSP Gov. Benjamin Diokno told reporters.
The BSP recorded 2.1 million transactions or an increase of 18 percent, and a value of P64.6 billion or an increase of 25 percent.
There were also more subscribers to the PESONet and InstaPay facilities as a result of the ECQ, the BSP chief said.
Diokno said the BSP wanted half of transactions to be digital buy 2023. Melo M. Acuña