Use of Financial Services, Mobile Banking: Number of Mobile Money Transactions (during the Reference Year) for Philippines
PHLFCMTNUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,039,554,444.82
Year-over-Year Change
6875.98%
Date Range
1/1/2010 - 1/1/2023
Summary
The 'Use of Financial Services, Mobile Banking: Number of Mobile Money Transactions (during the Reference Year) for Philippines' measures the volume of mobile money transactions in the Philippines. This metric provides insights into the adoption and usage of digital financial services in the country.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic trend tracks the number of mobile money transactions made during a reference year in the Philippines. It serves as an indicator of the growth and penetration of mobile-based financial services, which can inform policymakers and financial institutions about the evolving digital payments landscape.
Methodology
The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Historical Context
This trend is valuable for understanding the development of financial inclusion and the shift towards digital financial services in emerging markets.
Key Facts
- The Philippines is a leader in mobile money adoption in Southeast Asia.
- Mobile money transactions in the Philippines grew by over 40% in 2021.
- Over 20% of Filipino adults used mobile money services in 2022.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of mobile money transactions made in the Philippines during a given reference year. It provides insights into the usage and growth of digital financial services in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for understanding the development of financial inclusion and the shift towards digital payments in emerging markets like the Philippines.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Bangko Sentral ng Pilipinas, the central bank of the Philippines.
Q: How is this trend used in economic policy?
A: This trend can inform policymakers and financial institutions about the evolving digital payments landscape and the adoption of mobile-based financial services in the Philippines.
Q: Are there update delays or limitations?
A: The data is typically published with a lag, and the reference year may vary depending on the reporting period.
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Citation
U.S. Federal Reserve, Use of Financial Services, Mobile Banking: Number of Mobile Money Transactions (during the Reference Year) for Philippines (PHLFCMTNUM), retrieved from FRED.