Payop, an international payment service provider, has partnered with Dragonpay, a Philippine-based payment platform, to enhance the online operations experience for businesses and consumers in Southeast Asia.

This collaboration perfectly illustrates the evolving Philippine digital payments landscape, where e-wallets are gaining popularity alongside well-established cash-based methods. With Dragonpay offering multiple payment options, Payop can grant its clients access to all segments of consumers in the region. 

Despite the growing penetration of digital payments, cash remains king for many Filipinos, particularly in rural areas. However, the trend is shifting as more consumers embrace online banking, mobile wallets, and other electronic payment methods, driven by convenience, security, and the expanding digital infrastructure. 

According to Statista Research Department, cash was chosen as the most preferred method by 94% of respondents, with e-wallets and online card payments reaching 64% and 52%, respectively. This shows that while many continue to choose cash methods out of habit, a significant segment of the population is becoming tech-savvy, leading to the gradual rooting of digital payment methods. 

Last year, the number of digital payment users reached 33,85 million, with e-commerce accounting for 99,5%. And that number will continue to grow. So, implementing multiple payment options is key to staying on top of the wave when doing business in this market.