FOUR BANKS are set to roll out support for Apple Pay next month, with more expected early next year, according to a Mastercard official.

“We currently have four banks that have gone live and another four will follow around November… And then the last leg of banks, I think that will be phase three, which will be within the first quarter of next year,” Mastercard Philippines Country Manager Jason Crasto told reporters on the sidelines of an event on Monday.

With increased adoption among issuers, Mr. Crasto said he expects the growth in Apple Pay transactions to pick up further next year.

“It’s early days, but I will tell you that the adoption rates with the banks that have gone live have been very encouraging in the Philippines… I think as more consumers adopt it, as more banks launch it, we will organically also see a shift in Apple Pay transactions next year.”

Apple Pay went live in the Philippines in August, with supported banks at launch day being China Banking Corp., GoTyme Bank Corp., Metropolitan Bank & Trust Co., and Union Bank of the Philippines.

Philippine National Bank this month announced that its Mastercard credit and debit cards are now ready for use on Apple Pay.

Mr. Crasto said wider Apple Pay adoption will support the growth of digital payments in the Philippines, including card payments.

“[The Philippines] has a very young population, very digitally savvy. There is a lot of adoption of digital payments that you see, whether it’s wallets, whether it’s cards. Those are form factors that create momentum for digital payments,” he said.

“I think next year is a year that we’re all very keenly looking forward to because you will have momentum that will come in from transactions that are done via Apple Pay. So, it’s a great time to be a consumer in the Philippines making payments through cards.”

Digital payments accounted for 64.7% of the total volume of retail payments in the Philippines in 2025 from 57.4% in 2024, Bangko Sentral ng Pilipinas (BSP) data showed.

This marked the first year that the share settled within the central bank’s target. In line with the Philippine Development Plan, the BSP wants digital payments to account for 60%-70% of the total volume of retail payments by 2028.

As part of its efforts to grow digital payments in the Philippines, Mastercard on Monday signed a memorandum of understanding (MoU) with the Department of Trade and Industry (DTI) through its E-commerce Bureau (ECB) that aims to help Filipino micro, small, and medium enterprises (MSMEs) build stronger digital capabilities, reach more customers and adapt to a rapidly evolving business environment.

Through the collaboration, they will identify and develop initiatives that provide MSMEs with practical knowledge, capacity-building opportunities, and access to relevant digital payment solutions.

“Many small businesses are already selling online. What some still need is greater confidence in accepting payments and engaging with customers safely and securely. By working with Mastercard, we hope to bridge that gap and help them get there,” Eryl Royce R. Nagtalon, director of the DTI ECB, said in a speech at Monday’s event. — Aaron Michael C. Sy