GLOBAL cross-border payments platform Wise is now fully integrated with the country’s online payment systems as it now has access to the PESONet gateway.
This follows its integration with real-time electronic fund transfer service InstaPay in November 2024 along with direct settlement through the Bangko Sentral ng Pilipinas’ (BSP) gross payment system PhilPaSS Plus.
Wise entered the Philippines in May 2024.
“This breakthrough solidifies Wise as a major player in the Philippine remittance market, now processing 12% of all inward personal remittances and transforming how Filipino families manage high-value transactions like tuition fees,” Wise Philippines said in a statement on Tuesday.
“The integration with PESONet eliminates the long-standing frustrations such as limits and delays in sending large amounts abroad. Parents can now effortlessly transfer substantial amounts for their children’s overseas education in a single transaction, and overseas foreign workers can send significant amounts home without worrying about daily caps or multi-day processing times. Through Wise, users benefit from transparent, mid-market exchange rates (the same rates seen on Google) without any hidden fees or markups.”
It said that its direct connections with InstaPay and PESONet have reduced fund transfer costs, with fees for a P50,000 transfer to a US dollar account dropping by over 10%.
PESONet is mainly used for high-value transactions and may be considered as an electronic alternative to paper-based checks, while InstaPay is a real-time, low-value electronic fund transfer facility for transactions up to P50,000 and is mostly used for remittances and e-commerce.
The value of transactions done through InstaPay and PESONet jumped by 39.5% year on year to P11.1 trillion in the first half of 2025 from P7.98 trillion, the latest data from the BSP showed.
In terms of volume, transactions made via the two clearing houses more than doubled (138.7%) to 1.58 billion at end-June from 660.7 million in the same period a year ago.
Meanwhile, the company has also partnered with the Philippine Statistics Authority (PSA) to integrate Wise into the National ID eVerify system, it said.
This allows Filipino users to authenticate their accounts via the Wise app or website using their National IDs — whether in card, paper, or digital format.
“With direct access to both InstaPay and PESONet, plus streamlined National ID verification, we are removing barriers to transparent, affordable international money transfers. We are committed to ensuring that every Filipino can send and receive money with ease, confidence and transparency,” Wise Philippines Country Manager Areson I. Cuevas said.
“The integration of Wise with the National ID system is a testament to the power of collaboration in driving financial inclusion. With over 88 million Digital National IDs already available for access, we are empowering millions of Filipinos — regardless of their location or background — this is a significant step towards financial inclusion, and we are excited to see the positive impact it will have on the lives of many,” PSA Undersecretary and National Statistician Claire Dennis S. Mapa said. — A.M.C. Sy
