10 More Mobile Wallets to Try for a Cashless Existence

(SPOT.ph) Mobile wallets have become a game-changer in the Philippines, with a sizeable chunk of the population opting to use them for transactions instead of traditional cash or cards. In fact, a Bangko Sentral ng Pilipinas (BSP) survey found that mobile wallets are now Millennials and Gen Zs’ choice of money management.

Online banking is often lumped with e-wallets, but there is a difference: the former is connected to a bank account to build savings and earn interest while the latter is primarily used to make online or in-store payments. Both store digital money but e-wallets have become more accessible for unbanked Filipinos.

The rise of mobile wallets have seen the likes of GCash and Maya on everyone’s phone, but there are now more options than ever. You’ve heard the saying "Don’t put all your eggs in one basket"—the same can be said of digital money.

Also read: SPOT.ph Roadtest: Which Mobile Wallet Is the Handiest?

Top e-wallets in the Philippines (that aren't GCash and Maya)

Moneygment

Moneygment is exactly how it sounds—this mobile wallet is best for self-employed individuals who want to keep wise track of where the money goes, as well as people who have regular business with several government agencies. It’s the digital convenience with the additional benefit of financial management tools like monitoring cash flow, filing taxes, and creating budgets.

If that’s not enough, Moneygment also allows users to settle government contributions such as SSS, PhilHealth, and PAG-IBIG within the app.

Moneygment is available for download on iOS and Android.

Coins.ph

Coins.ph is a mobile wallet that is most known for its involvement in cryptocurrency. They are generally considered the most established crypto brand in the Philippines.

Like other e-wallets, users can make payments, buy load, pay bills, and transfer money to other Coins.ph users; they can also buy, sell, and store popular cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, and Ripple. At the same time, it is regulated by the BSP to meet certain standards for financial security.

One of the biggest advantages of Coins.ph is its low fees. Unlike traditional remittance services, Coins.ph offers competitive exchange rates and minimal fees for transactions.

Coins.ph is available for download on iOS and Android.

BanKo

The brainchild of BPI, Ayala Corporation, and Globe Telecom and in existence since 2009, Banko is unique in that it provides financial inclusion to unbanked communities in the Philippines, even if it is currently operated by BPI. Essentiall, all that means is that users won’t have to open a BPI account to use BanKo.

It offers bills payment, money transfers, and mobile load purchase like any other e-wallet. BanKo also offers microloans and microinsurance options, providing financial services to those who would otherwise have limited options for financial assistance.

BanKo is available for download on iOS and Android.

GrabPay

GrabPay is for the person on the go—and for the person who can't seem to stop using Grab's services.

Here, users can add credit/debit card or link bank accounts to cash in for this mobile wallet. They can then use GrabPay to pay for rides, food deliveries, and other services offered by Grab, as well as at partner merchants both online and offline.

One of the biggest advantages of GrabPay is the rewards and cashback it offers. Users can earn GrabRewards points for every transaction made with GrabPay, which can be used to redeem discounts or freebies on Grab services or with partner merchants.

Grab is available for download on iOS and Android.

Dragonpay Wallet

Dragonpay is easily one of the most common payment methods seen at checkout, but did you know it is also an e-wallet?

With Dragonpay, users can make payments to thousands of merchants, including online shops, utility companies, and government agencies. It also has a range of features such as bill payments, money transfers, and cash withdrawals, making it a versatile e-wallet option for Filipinos.

Dragonpay Wallet is available for download on iOS and Android.

Also read: When Your Virtual Wallet Hits a Snag, Who Do You Call?

Alipay

Alipay is a mobile e-wallet app that originated in China and has since expanded to other countries, including the Philippines. It allows users to make payments, split bills with friends, and earn rewards for transactions.

What sets Alipay apart from other e-wallets is its focus on financial services beyond simple payments. Alipay offers a range of investment and wealth management options, including insurance and credit services. However, Alipay’s wide range of financial services might not be so relevant for users who wish to prioritize simplicity in the e-wallet experience.

Alipay is available for download on iOS and Android.

PayPal

We can't complete this list without mentioning one of the most popular e-wallets in the world. PayPal excels as a global platform that can be used to make and receive payments from users in other countries. This is especially useful for freelancers or small business owners who work with clients abroad and need a secure way to receive payments.

However, PayPal lacks the local features that most e-wallets in this list have, such as paying for bills and buying mobile load. Another thing to take note of is that PayPal's currency exchange rates might not always be as favorable as other e-wallets, which may be a consideration for users who frequently receive payments in foreign currencies.

PayPal is available for download on iOS and Android.

CLiQQ Wallet

CliQQ Wallet is a mobile e-wallet app offered by 7-Eleven. Unlike other e-wallets that focus on digital transactions, CliQQ Wallet is best for users who frequently make purchases in 7-Eleven stores as well as CliQQ's online grocery website.

CliQQ Wallet makes for an attractive option to users because of how widespread 7-Eleven branches are in the country. This is especially convenient for users who might not have access to traditional banking services or who prefer to use physical money to cash in. However, CliQQ Wallet isn't generally accepted outside of 7-Eleven branches.

CliQQ Wallet is available for download on iOS and Android.

Payoneer

Payoneer was created with freelancers, businesses, and professionals who engage in cross-border transactions in mind. International transfers are made easy with this mobile wallet since users can receive payments in multiple currencies. In addition, they can withdraw the funds to a local bank account or Payoneer Mastercard.

It's not the best for local transactions, but it does offer a range of other practical services like currency conversion, invoicing, and tax management.

Payoneer is available for download on iOS and Android.

ShopeePay

Every shopaholic will know or have probably used ShopeePay at some point in time. Integrated with the Shopee platform, it allows users to use wallet balance to make purchases on the app. Its use is often promoted with the lure of cashback rewards, discounts, and promotions.

ShopeePay is highly versatile, too, with offerings on mobile load purchase, bill payments, and remittances. However, those who aren’t Shopee users to begin with might not see the point in using a mobile wallet tied to a shopping platform.

Shopee is available for download on iOS and Android.

Updated (May 29, 2023): This article was updated to correct CliQQ Wallet's function as 7-Eleven's loyalty application.

Also read:
10 Online Services to Try for a Cashless Existence
The SPOT.ph Guide to Using Lazada Wallet
The SPOT.ph Guide to Using Maya