Wise expands PHP Services with QR Ph, local transfers

Wise expands PHP services in the Philippines with local account details, QR Ph payments, and higher limits for small business transfers.

Areson Cuevas, Wise Country Manager

Seamless PH payments with Wise

According to the firm, Filipinos have long maintained financial ties abroad through remittances, but their cross-border financial needs have expanded well beyond that.

A growing number are now earning, spending, and saving across multiple currencies, driven by an expanding freelance economy that pays international salaries and rising outbound travel. This shift in how Filipinos receive, spend, and send money is expected to continue, with 81% of young Filipinos saying they are willing to live and work abroad.

Wise with QR Ph

To facilitate this money movement, Wise connects directly to domestic payment networks to offer faster, lower-cost, and more transparent cross-border transfers. In the Philippines, its integration with InstaPay and PESONet has introduced new ways for consumers and businesses to move Philippine pesos (PHP).

Receiving PHP with local account details

Wise customers in the Philippines can already receive payments in major currencies such as USD, GBP and AUD using account details. The company is now expanding this to include PHP, a change aimed at the more than 10% of the Philippine population living overseas.

Filipinos abroad, as well as Wise users elsewhere, can obtain PHP account details through Wise without opening a traditional local bank account or visiting a branch. These details can be used to receive PHP transfers from employers, clients, friends, and family through the InstaPay and PESONet networks.

Everyday spending via QR PH

Wise customers can also scan and pay using QR Ph for local transactions in the Philippines, drawing on PHP or any other currency held in their Wise account. This allows travellers to spend in the Philippines without a local bank account or e-wallet. Users who receive international payments through Wise, including freelancers, can set an Auto Conversion target rate to convert their earnings into PHP and use their Wise balance to pay for goods, services or bills locally.

Higher receiving limits for small businesses

Cash flow constraints remain a significant challenge for small businesses, many of which have limited access to credit and depend on incoming payments to cover payroll, inventory and supplier costs.

Wise features

To address this, Wise is raising the instant domestic payment limit for its Business Account customers to PHP 500,000 through InstaPay for Business. The company says its direct connection to InstaPay makes it one of the first financial institutions in the Philippines to offer this capability.

Managing international money is becoming an everyday reality for many Filipinos as they increasingly live and do business across borders," said Areson Cuevas, Country Manager of Wise Philippines. "By integrating with domestic payment networks, we're making the Philippine Peso more accessible - helping Wise customers move money into, out of, and across the Philippines in a much faster, cheaper and simpler way."

Since launching in the Philippines in 2024, Wise has continued to expand its products, partnerships, and infrastructure to serve Filipino consumers and businesses. 

These latest additions build on earlier moves, including the launch of the Wise Account and Card, Wise Business, and the expansion of Wise Platform through a partnership with GoTyme Bank, which allows customers to send money directly to more than 200 countries and territories through the GoTyme Bank app.

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