Use of Financial Services, Mobile Banking: Registered Number of Mobile Money Accounts for Philippines

Q: What does this economic trend measure?

A: This trend measures the total number of registered mobile money accounts in the Philippines, which includes accounts used for transactions, savings, credit, and other financial services through mobile devices.

Q: Why is this trend relevant for users or analysts?

A: This metric provides important insights into the growth and adoption of digital financial services in the Philippines, which is crucial for understanding financial inclusion and the development of the country's digital finance ecosystem.

Q: How is this data collected or calculated?

A: The data is collected by the Bangko Sentral ng Pilipinas, the central bank of the Philippines, through regulatory reporting by mobile money service providers.

Q: How is this trend used in economic policy?

A: Policymakers and financial institutions use this metric to assess progress toward financial inclusion goals and the development of the digital finance ecosystem in the Philippines.

Q: Are there update delays or limitations?

A: The data is published on a regular basis by the Bangko Sentral ng Pilipinas, with minimal delays. However, the metric may not capture all informal or unregistered mobile money usage in the country.