The fintech landscape in the Philippines is evolving quickly, driven by innovation, demand and obviously, digitalisation. For decades, the discussion revolved around the quick rise of mobile wallets, a trend accelerated by the pandemic, which brought millions of unbanked Filipinos into the digital fold. However, the ecosystem has moved far beyond simple peer-to-peer payments and prepaid loads. The conversation about fintech startups in the Philippines now revolves around advanced banking solutions, easy access to credit, Buy Now Pay Later (BNPL) products, and robust back-end systems.
Here are the top 5 e-commerce startups in the Philippines to watch in 2026
This marks a shift from basic financial access towards deeper financial participation, including savings, credit, insurance and business tools. In light of regulators providing a supportive framework through digital banking licences and the Open Finance Framework, entrepreneurs are currently taking on the tougher task of extending credit to the underbanked and enabling MSMEs (Micro, Small and Medium Enterprises) to succeed. Instead of asking whether Filipinos can transact online at scale, the problem faced by founders, regulators, and investors alike is whether or not the system can handle sustained credit demands without destabilising.
Is the Philippine fintech market moving fast enough to bridge the credit gap?
GCash operated Mynt
GCash, operated by Mynt, remains the dominant consumer fintech platform in the Philippines. Starting out as just another mobile wallet, today it operates as a “super-app.” GCash now offers investment tools, insurance policies, and credit lines to its customers. The main objective of GCash is to become the “one-stop shop” for all things financial without having the need to use traditional banks anymore.
GCash has been able to use alternative data from its ecosystem to support credit access for users who may lack formal credit histories. The significance of GCash today is defined by its sheer size as well as its move towards an eventual IPO. Its scale was reinforced in 2024 when new investments from Ayala Corporation and MUFG lifted Mynt’s valuation to US$5 billion. Reuters also reported that there were no immediate IPO plans at the time, despite continued market speculation.
Maya
Maya differentiates itself from GCash through its integrated digital banking model, combining payments, savings, credit and merchant services within the same ecosystem. This has facilitated the introduction of interest-earning savings accounts in its payments app. In return, the feature has made it easier for customers to transition from spending to saving. Apart from its enormous consumer client base, Maya also boasts of having a sizable stake of the merchant payment processing market in the Philippines.
Its unique selling proposition is an “all-in-one” banking system. This is appealing to many millennials who like the idea of getting instant loans based on their wallet transactions. Maya is also at an important valuation moment. It has been reported that its leading backers, such as KKR, plan to seek new investments or sell shares, putting it at a premium valuation.
Salmon
Salmon has carved out a clear position by focusing on credit. Salmon utilises artificial intelligence (AI)-powered credit scoring systems to offer point-of-sale (POS) loans and cash loans to the millions of Filipinos who are “credit-hungry” yet remain underserved by conventional banks and other financial institutions. Salmon serves the working-class people who need reliable, predictable funding and service for important everyday purchases.
What makes Salmon special is that it has managed to strike a balance between retailing as well as finance. Salmon’s acquisition of a controlling stake in a licensed rural bank also strengthened its position in the Philippine market. In April 2026, Salmon raised US$100 million through a mix of equity and debt financing to support its Philippine expansion, strengthen its banking unit and scale its lending portfolio.
The funding will be utilised to increase its loans and enhance digital capabilities. This shows a high level of confidence among investors regarding Salmon’s ability to tackle the credit deficit in the Philippines.
GoTyme Bank
GoTyme Bank, which is a collaboration between the Gokongwei Group and the Tyme Group, has become one of the fastest-growing digital banks in the nation. The bank differentiates itself with its high-tech kiosk machines inside supermarkets. Through these kiosks, customers can obtain printed debit cards in less than five minutes. The bank targets the middle and mass affluent classes of society, who desire the convenience of digital banking and also have an established physical presence. GoTyme is significant because it found the solution to earning trust from its users through its “phygital” strategy.
The bank is further strengthened by the $150 million investment made by the Brazilian digital banking behemoth Nubank in the Tyme Group towards the end of 2024. The investment strengthens Tyme Group’s broader expansion plans, including its operations in the Philippines through GoTyme.
Netbank
Netbank is the “hidden engine” driving the development of the fintech industry in the Philippines. Unlike many other consumer-facing apps, Netbank positions itself as a Banking-as-a-Service (BaaS) provider. As the core player for the other fintech startups, the bank provides the needed banking infrastructure, such as account management, issuing cards, and settlement processes. Netbank is significant since it enables non-banking institutions to offer financial services without spending for obtaining their own banking license. This accelerates innovation across the market.
Recently, Netbank finalised its Series B fundraising, aiming to enhance its BaaS service and to process cross-border transactions. As there is more interest from the international community on establishing operations in the Philippine fintech industry, Netbank is among the most crucial fintech startups.
The stress points are now moving to credit
The transition from the basic wallet service to advanced banking has created more pressure spots. As far as regional investors are concerned, the issue has shifted to how these fintech platforms handle risks in economies where information regarding formal credit is developing.
Digital banking startups are also feeling the pressure to grow their business. An example is Tonik, which recently received $12 million in funding to emphasise scalability and capital-efficient lending. This demonstrates that the market is indeed fertile, but only those who have efficient lending models will thrive.
The next year will test policy discipline
The fintech ecosystem in the Philippines is developing into an environment where leading companies are either creating finance ecosystems for the masses, such as GCash and Maya, or tackling the lack of access to credit and infrastructure in the Philippines, like Salmon and Netbank. The key question for the next 12 months is whether the Philippines can keep finance affordable while building an ecosystem that is less vulnerable to global shocks. Whether this transition remains stable depends on how soon these companies can progress from gaining users to building sustainable, profitable lending books.