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  4. 10 Best E-Wallets in the Philippines 2023 | GCash, PayMaya and More
  • 10 Best E-Wallets in the Philippines 2023 | GCash, PayMaya and More 1
  • 10 Best E-Wallets in the Philippines 2023 | GCash, PayMaya and More 2
  • 10 Best E-Wallets in the Philippines 2023 | GCash, PayMaya and More 3
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10 Best E-Wallets in the Philippines 2023 | GCash, PayMaya and More

With the advent of technology, the popularity of e-wallets is almost foreseeable as they provide a quick, safe, and hassle-free payment method for everyone, especially during this pandemic. Considering the health protocols in place, e-wallet apps offer a great alternative for in-cash payments through your smartphone.


In terms of choices, many e-wallet apps have been released, and they have varying features and functions. Some require verification processes, while others have reward programs for frequent users. To help you select the right digital wallet, check out our 10 best list as well as our buying guide to help you weigh your options.

Last updated 07/14/2023
Editorial Team
Guide
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Editorial Team

Our recommendation articles are carefully researched and crafted by the mybest Philippines team of writers and editors. To stay true to our company’s mission and vision to help users’ selection process easier, we also collaborate with experts from various fields to ensure that our content stays factual and useful.

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Table of Contents

How to Choose an E-Wallet - Buying Guide

We all know that having a one, handy, e-wallet app offers a great deal of convenience, but picking one among the many options can be daunting. Feel free to read our buying guide to learn more about the things that you should keep in mind when choosing a digital wallet app.

1

Consider Its Registration Process

Consider Its Registration Process

E-wallet apps may differ in their registration process. Some may require you to use your mobile number or email to sign-up, while others are more complicated, requiring you to submit a valid ID or link an existing bank account. The former is for those who don't have a bank account, while the latter is for those looking for a more seamless integration of their financial accounts. 


Digital wallets such as GCash require certain steps for you to unlock more features in the app. These might seem like a hassle, but they also add a layer of security and validity to your account. All in all, before choosing an e-wallet app, make sure to do your research on its registration process so you'll know what to prepare to create an account.

2

Pick an App Based on Your Needs

Pick an App Based on Your Needs

E-wallets make our transactions quicker and more convenient in more ways than one. Digital wallets are often used for online transactions, in-store transactions via scan-to-pay, paying bills, sending and receiving money, buying prepaid load, or growing your money through savings or investments.


Online merchants might find e-wallets with a send or receive money feature convenient, while freelancers might prefer those that come with multi-currency transfers. Not all digital wallets offer every transaction feature, so before picking one, it is important to determine first what you're looking for so that you can find the best e-wallet that can meet your needs.

3

Choose an App That Is Secure

Choose an App That Is Secure

Since you can link your bank account to your e-wallet and use it seamlessly, this makes security an important aspect to look into when downloading a digital wallet app. Before choosing an e-wallet, make sure that it has security checks in place such as PINS, passwords, and two-step verification processes.


Also, ensure that the data is highly encrypted and stored in secure servers to protect it against hacking and unauthorized access. Lastly, it helps if the e-wallet is secured by legitimate and reliable banks.

4

Pay Attention to the Transaction Fees and Other Additional Charges

Pay Attention to the Transaction Fees and Other Additional Charges

Some e-wallet apps earn money by charging a small fee for customer transactions. This is common in functions such as sending money and exchanging money across different currencies. There are a few e-wallets that don't charge anything, although these might come at a price, namely, a more complicated registration process or a longer processing period.


While these extra charges may seem small, these might accumulate and be costly for you in the long run, especially if you use your e-wallet regularly. To avoid this, choose a digital wallet that only has a small transaction fee, or better yet, go for those that charge you nothing.

5

Consider the Perks and Other Features

Consider the Perks and Other Features

Some e-wallets allow you to directly link your bank account to the app, making bills payment and online shopping more convenient. Aside from that, e-wallets also offer customer perks such as special offers, coupons, loyalty memberships, gift cards, VIP statuses, and many more. 


For instance, if you shop online, especially in Shopee and Lazada, then you might want to top up your Shopee Pay or Lazada Wallet for convenience. Besides making check-outs faster and easier, you can also avail of their exclusive offers such as cashback deals, discounts, and vouchers.

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10 Best E-Wallets to Download

Here are the best E-Wallets, ranked according to the points mentioned in our thoroughly researched buying guide (as of 01-16-2023). The products are ranked independently by mybest.
Popularity
Products
Image
Click to purchase
Key features
1

Globe Fintech Innovations, Inc.

GCash

Globe Fintech Innovations, Inc. GCash 1枚目

A Digital Wallet for Everyone

2

PayMaya Philippines, Inc.

PayMaya

PayMaya Philippines, Inc. PayMaya 1枚目

Stay Safe With Cashless Transactions

3

Shopee

ShopeePay

Shopee ShopeePay 1枚目

Experience Online Shopping Without the Hassle

4

Dragonpay Corporation

Dragonpay

Dragonpay Corporation Dragonpay 1枚目

An E-Wallet for Online Businesses

5

PayPal Mobile

PayPal

PayPal Mobile PayPal 1枚目

Send and Receive Money Anytime, Anywhere

6

Lazada Mobile

Lazada Wallet

Lazada Mobile Lazada Wallet 1枚目

Makes Shopping from Lazada More Convenient

7

Grab Holdings

Grab Pay

Grab Holdings Grab Pay 1枚目

Link Your Grab Account to This Mobile Wallet

8

Coins Asia

Coins.ph

Coins Asia Coins.ph 1枚目

A Trading Platform for Cryptocurrencies

9

7-Eleven Philippines

CLiQQ by 7-Eleven

7-Eleven Philippines CLiQQ by 7-Eleven 1枚目

Go Cashless and Earn Rewards When You Buy from 7-Eleven Stores

10

M. Lhuillier Financial Services Inc.

ML Wallet

M. Lhuillier Financial Services Inc. ML Wallet 1枚目

Send and Receive Money Even Without a Linked Bank Account

If you don't see the product you're looking for, you can request that it be listed.
No.1

Globe Fintech Innovations, Inc.GCash

GCash Image 1
Source:play.google.com

A Digital Wallet for Everyone

From the telecom giant Globe, GCash is a popular e-wallet app that allows you to do a variety of transactions such as cash-in, bills payment, and load purchases. To maximize this digital wallet, consider registering for a "fully-verified status," which gives you access to all GCash services such as cash-out, send money, cash-in through PayPal, banks, and debit cards, and many more.


While some of those features charge a small transaction fee, the app also offers rebates and rewards for your transactions. Also, linking your bank account to GCash is a great way of seamlessly integrating your finances in one handy app. Overall, it is one of the most versatile e-wallets in the Philippines, and its wide variety of services and huge following proves that.

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No.2

Stay Safe With Cashless Transactions

Do you prefer cashless transactions over cash payments? This e-wallet has got you covered! PayMaya is a free-to-download application that helps you stay safe and secure with contactless transactions. This is possible through its scan-to-pay feature, which allows you to pay via QR code in establishments affiliated with PayMaya. 


Aside from that, this digital wallet also offers the usual e-wallet services such as e-load, money transfers, and bills payment. The best thing about it is that you can avail of the PayMaya physical card, which you can link to the app and pay in stores that accept credit and debit cards.

No.3

Experience Online Shopping Without the Hassle

If you're a fan of online shopping, then ShopeePay is the way to go. Shopee is one of the leading e-commerce sites in the Philippines, and a ShopeePay account offers a seamless payment method for placing your orders online. Aside from convenience, this digital wallet also offers a wide variety of discounts and promotions on the app.


Instead of linking your bank account or a different e-wallet, the great thing about ShopeePay is that it's built right in your Shopee account. This means that you can monitor your balance anytime and reap amazing benefits such as cash-backs, vouchers, and more. Best of all, ShopeePay is officially registered and regulated by the Bangko Sentral ng Pilipinas (BSP).

No.4

An E-Wallet for Online Businesses

For online business owners who sell their items online, Dragonpay can be an alternative solution if you don't have a bank account or credit card. This mobile wallet is also a convenient application to have when your bank's website or app is down, as it offers easy check-outs for real-time payments.


Besides online merchants, gamers can also benefit from using Dragonpay as it supports online game publishers. In other words, you can use Dragonpay credits to shop online, including your in-app game purchases! This mobile e-wallet is downloadable on Play Store, and there's also a web version for those who don't have the app.

No.5

Send and Receive Money Anytime, Anywhere

PayPal is arguably one of the biggest and most accepted digital payment platforms internationally. Freelancers with foreign clients are familiar with Paypal as it allows users to send and receive money anywhere in the world. Your Paypal account can be directly linked to your bank account, so there's a seamless integration of your finances.


What makes PayPal a great e-wallet is its ability to do multi-currency transfers from over 200 countries without the hassle of converting currency. Despite these features, however, Paypal also comes with some disadvantages, including hefty fees for transactions and no special rewards for transactions.

No.6

Makes Shopping from Lazada More Convenient

Lazada Wallet is a mobile wallet that is directly linked to your Lazada account. With this app, you can pay for goods purchased from Lazada. This makes online shopping more convenient than cash-on-delivery transactions, where you have to prepare the amount you need to pay. 


For those who use the app regularly, you can even receive discount vouchers! You can also immediately get your money back in case of refunds or cancelled orders without going through the hassle of contacting customer support. Keep in mind that the minimum amount you can place in your Lazada Wallet is PHP 20, and the maximum amount is PHP 50,000.

No.7

Link Your Grab Account to This Mobile Wallet

GrabPay, a subsidiary of the top transportation company in the country, is an e-wallet that directly links to Grab services such as GrabRide, GrabMart, and GrabFood. Aside from that, you can also do mobile and cashless payments and receive money all with one Grab account. 


Plus, you can get a GrabPay card through the app, which works like a debit card. This makes purchasing from them and other affiliated companies a whole lot easier. Each transaction can also earn you those sweet Grab rewards! In terms of security, GrabPay is regulated by the Bangko Sentral ng Pilipinas (BSP). 

No.8

A Trading Platform for Cryptocurrencies

Licensed by the Bangko Sentral ng Pilipinas (BSP), Coins.ph is a Philippine-based fintech company that aims to make managing personal finances easier for every Filipino. The app is mainly used for cash exchanges even without a linking credit card or bank account


Aside from that, it also serves as a digital coin trading platform where you can buy and sell cryptocurrencies such as Bitcoin, Ethereum, XRP, and many more. Also, you can use this digital wallet to shop online, buy prepaid load, and pay for your bills. 


Plus, you get rebates when you pay your utilities and also a PHP 50 reward for every referral. The only drawbacks of Coins.ph are that their exchange rate may be different from international rates because it is fixed by the company, and there are extra charges when you use the app outside of Metro Manila.

No.9

7-Eleven PhilippinesCLiQQ by 7-Eleven

Go Cashless and Earn Rewards When You Buy from 7-Eleven Stores

CLIQQ is a mobile app for cashless transactions that you can use in all 7-Eleven stores. To use this app, simply present the e-payment loyalty barcode to the cashier from your mobile phone. For every PHP 25 purchase, you get 1 CLIQQ reward point that you can use to get free drinks, snacks, and more.


To load money into your CLIQQ Pay Wallet, simply click the load wallet button and present the generated barcode to any 7-Eleven cashier. What gives this e-wallet an edge over its competitors is that you can use it even without an Internet connection. Just enter your 4 digit PIN, show the e-payment barcode to the cashier upon payment, and you're good to go!

No.10

M. Lhuillier Financial Services Inc.ML Wallet

Send and Receive Money Even Without a Linked Bank Account

ML Wallet is M Lhuiller's official digital wallet application. It allows users to send and withdraw money, pay bills, and buy e-load using their smartphones without the need for a linked bank account. The maximum amount that you can withdraw is PHP 40,000 per day, and the great thing is that you can do that in any of the 2,500 M Lhuiller branches nationwide.


However, some of the disadvantages of this e-wallet are that the e-load is only available for Sun and Smart subscribers, and the system is still being developed. Hence, you might encounter glitches with the app from time to time. Still, this is a great digital wallet app to download, especially for those who do not have access to banks and other financial institutions.

Check Out These Tools That Can Help You With Your Finances

Check Out These Tools That Can Help You With Your Finances

Want to be more in charge of your finances? Check out these other finance-related apps that you can download on your smartphone. With these applications and services, you can be one step closer to a more stable financial future!

Summary

In today's day and age, handling your finances has become more convenient and accessible. With e-wallets, you can now seamlessly integrate your digital wallet with your other existing bank accounts. We hope this article has helped you find the best e-wallet to download on your mobile phone and use on your laptop or desktop!


Author: Katrina Balingit

Editor: Aprille Jarcia

Top 5 E-Wallets

No. 1: Globe Fintech Innovations, Inc.GCash

No. 2: PayMaya Philippines, Inc.PayMaya

No. 3: ShopeeShopeePay

No. 4: Dragonpay CorporationDragonpay

No. 5: PayPal MobilePayPal

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The descriptions of each product are referenced from content available on manufacturer, brand, and e-commerce sites.
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