5-mo Instapay, Pesonet payments up 37% By Cai U. Ordinario
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NLINE payments coursed through Instapay and Pesonet increased 37.06 percent in the January to May period in 2025, according to the latest data from the Bangko Sentral ng Pilipinas (BSP). The data showed total Instapay and Pesonet payments amounted to P9.13 trillion in January to May 2025, higher than the P6.66 trillion posted in the same period last year. In terms of volume, BSP data showed these payments more than doubled or posted a growth
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of 122.42 percent during the fivemonth period compared to last year. There were a total of 1.21 billion transactions made via Instapay and Pesonet in the January to May 2025 period, significantly higher than the 545.28 million transactions in the same period of 2024. In May 2025, the amount sent via Instapay and Pesonet increased by 38.17 percent to P1.98 trillion from P1.43 trillion in May 2024. In terms of volume, the data showed it tripled to 369.05 million transactions in May 2025, a 202.77- percent increase from the 121.89 million transactions re-
corded in May 2024. Meanwhile, the BSP data showed that the amount of funds sent via Pesonet amounted to P5.06 trillion in January to May 2025. This was a 28.17-percent growth from the P3.95 trillion recorded in January to May 2024. In terms of volume, Pesonet facilitated a total of 46.65 million transactions in the first five months of 2025, a 15.92-percent growth from the P40.25 million transactions facilitated in the same period last year. For May 2025, the value of transactions that went through Pesonet reached P1.05 trillion, a 26.69-percent growth from the
P818.77 billion recorded in the same period last year. In terms of volume, Pesonet transactions reached 9.5 million in May 2025, a 13.85-percent growth from the 8.35 million posted in May 2024. Meanwhile, BSP data showed the value of transactions via Instapay reached P4.06 trillion in January to May 2025, a 50.05-percent growth from the P2.71 trillion recorded in the five-month period last year. The number of transactions coursed through Instapay in the first five months of the year reached 1.16 billion transactions, See “Instapay,” A2
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A broader look at today’s business
Thursday, June 19, 2025 Vol. 20 No. 249
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BIR OPEN TO TWEAKING ITS REVENUE TARGETS A
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By Reine Juvierre S. Alberto @reine_alberto
FTER the Philippine economy grew slower-than-expected in the first quarter, the Bureau of Internal Revenue (BIR) is sticking to its revenue target for now, but a recalibration could be a possibility. BIR MAY RECALIBRATE REVENUE TARGET AS GDP SLOWS 3.5
WHY IT MATTERS
The BIR’s revenue targets are based on economic growth projections.
PROPOSED SOLUTION Digital Track-and-Trace System
2.0 1.5 1.0 0.5
2024 Target
2025 Target
Actual as of April 2025
CURRENT STATUS
Q1 GDP growth: 5.4% (Lower than 6–8% government target)
Target for 2025: P3.232 trillion (Up by 13.36% from 2024 target of P2.851 trillion)
A slower economy lower business earnings less tax collected
Actual collection as of April: P1.110 trillion (34% of full-year target)
“There have been discussions because supposedly the collection target is dependent on the economic growth of the country,” Internal Revenue Commissioner Romeo D. Lumagui Jr. said in response to a question about the possibility of revising the revenue collection target this year. The country’s gross domestic product (GDP) grew by 5.4 percent in the first quarter, slower than the 5.9 percent in the same period
n QR codes on excisable products (vapes, alcohol, cigarettes) n Lets users verify legitimacy by scanning via phone n Detects fake/untaxed items instantly n Enables public participation in anti-smuggling efforts
“[We] aim for a drastic improvement in the collection.” — BIR Commissioner Romeo Lumagui Jr.
last year but slightly quicker than the 5.3 percent in the final quarter of 2024. Since the government expects the economy to grow higher at 6 percent to 8 percent this year, it also anticipates higher revenue collections. This year, the revenue collection target for the BIR is set at P3.232 trillion, higher by 13.36 percent than its P2.851-trillion goal in See “BIR,” A2
YOUR FOOD, DRONE-DELIVERED: 2 FIRMS, DICT, DOTR EYE PILOT By Lorenz S. Marasigan
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UMAGUETE CITY— Grab Philippines has partnered with the Department of Information and Communications Technology (DICT), the Department of Transportation (DOTr), and Megaworld Corp. to introduce a drone delivery pilot program in the country. Grab Philippines Chief Corporate Affairs Officer Sherielysse Bonifacio said the pilot—to be rolled out in parts of Quezon City and Pasig City—aims to “explore the full potential of technology,” testing the viability of aerial logistics as a viable
BM Graphics: Ed Davad
Revenue (Trillion Pesos)
3.0 2.5
long-term solution to plug service gaps. The pilot is the first of its kind in the country and will explore how unmanned aerial vehicles (UAVs) can support faster, more inclusive delivery systems. The initiative is being positioned as a potential solution to reduce road congestion, improve reach in hard-to-access areas, and create smarter, tech-enabled logistics networks in the long term. The four organizations signed a memorandum of understanding (MOU) here on Wednesday. “The MOU represents how we are driving innovation, it explores the potentials of drone See “Food,” A2
SHOTS FIRED—THIS TIME WITH CAMERAS Park photographers wait for customers and check their shots as local tourists pose in front of the Rizal Monument in Manila ahead of the hero’s
birth anniversary on June 19. Some strike poses for portraits, others take groufies—with the controversial “pambansang photobomber,” the Torre de Manila, once again looming in the background. The monument stands on the historic site of Dr. Jose P. Rizal’s execution in 1896, now a revered space honoring the national hero whose words and sacrifice helped spark the Philippine revolution against Spanish rule. BERNARD TESTA
Peza clears new IT parks, ecozones in H1 By Bless Aubrey Ogerio
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@blessogerio
HE Philippine Economic Zone Authority (Peza) is expanding its reach across the country, with four new economic zones officially approved in the first half of 2025—two in manufacturing and two in the IT sector. President Ferdinand Marcos Jr. has approved the establishment of the new zones, which include expansions to the Lima Technology Center (LTC) in Batangas and the designation of new IT parks in Tagbilaran City, Bohol, and Bacolod City, Negros Occidental. “As a medium-term strategy under
the Philippine Development Plan, the ecozones will play a vital role in attracting the much-needed investments in the country, generating more jobs for Filipinos, and contributing in accelerating the nation’s socioeconomic progress,” Peza Director General Tereso Panga said. The first expansion, issued on May 21, covers 23.49 hectares in Barangays Bagong Pook and Luta Sur. Development is backed by more than P980 million in investments and is targeted for completion by June 2027. An earlier expansion added another 19.23 hectares to the same facility in March. On June 2, Bacolod City officially designated 33.96 hectares in Ba-
rangay 41 as an IT park called The Upper East. Operated by Megaworld, the development will host two IT buildings with projected investments of over P1 billion. With this, around 2,500 jobs are expected to be created once five IT-BPM companies begin operations in the area. Meanwhile, an IT hub in Tagbilaran City, Bohol, was formalized on May 8 with the registration of the 1.1-hectare Tagbilaran Uptown IT Hub 2 in Barangay Dampas. Building on the momentum of the earlier Uptown IT Hub 1, the project is expected to generate over P200 million in investments. Per Peza, a prospective tenant
has already expressed intent to invest P70 million and hire over 500 employees. Data from the Philippine Statistics Authority showed that many of the top-performing cities outside Metro Manila are home to Pezaaccredited ecozones. Peza is also pushing forward with the development of the Palawan Mega Ecozone and the Pantao Ecozone, which are both scheduled for proclamation within the current administration. Since President Marcos Jr. took office, a total of 32 ecozones have been approved, with cumulative pledged investments amounting to P13.4 billion.
PESO EXCHANGE RATES n US 56.5790 n JAPAN 0.3896 n UK 75.9969 n HK 7.2078 n CHINA 7.8719 n SINGAPORE 44.0030 n AUSTRALIA 36.6406 n EU 64.9697 n KOREA 0.0410 n SAUDI ARABIA 15.0809 Source: BSP (June 18, 2025)