• 10 Best E-Wallets in the Philippines 2022 | GCash, PayMaya and More 1
  • 10 Best E-Wallets in the Philippines 2022 | GCash, PayMaya and More 2
  • 10 Best E-Wallets in the Philippines 2022 | GCash, PayMaya and More 3
  • 10 Best E-Wallets in the Philippines 2022 | GCash, PayMaya and More 4
  • 10 Best E-Wallets in the Philippines 2022 | GCash, PayMaya and More 5

10 Best E-Wallets in the Philippines 2022 | 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.

This article's contributors

Editorial Team
  • Last updated: 08-30-2022
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.

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.

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.

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.

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.

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.

Compare the Best E-Wallets

Image
1
Globe Fintech Innovations, Inc. GCash 1

Globe Fintech Innovations, Inc.

2
PayMaya Philippines, Inc. PayMaya 1

PayMaya Philippines, Inc.

3
Shopee ShopeePay 1

Shopee

4
Dragonpay Corporation Dragonpay 1

Dragonpay Corporation

5
PayPal Mobile PayPal 1

PayPal Mobile

6
Lazada Mobile Lazada Wallet 1

Lazada Mobile

7
Grab Holdings Grab Pay 1

Grab Holdings

8
Coins Asia Coins.ph 1

Coins Asia

9
7-Eleven Philippines CLiQQ by 7-Eleven 1

7-Eleven Philippines

10
M. Lhuillier Financial Services Inc. ML Wallet 1

M. Lhuillier Financial Services Inc.

Name

GCash

PayMaya

ShopeePay

Dragonpay

PayPal

Lazada Wallet

Grab Pay

Coins.ph

CLiQQ by 7-Eleven

ML Wallet

Features

A Digital Wallet for Everyone

Stay Safe With Cashless Transactions

Experience Online Shopping Without the Hassle

An E-Wallet for Online Businesses

Send and Receive Money Anytime, Anywhere

Makes Shopping from Lazada More Convenient

Link Your Grab Account to This Mobile Wallet

A Trading Platform for Cryptocurrencies

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

Send and Receive Money Even Without a Linked Bank Account

Price Starts at₱0₱0₱0₱0₱0₱0₱0₱0₱0₱0
Send/Receive MoneyYesYesYesYesYesNoYesYesYesYes
Pay BillsYesYesYesYesYesYesYesYesYesYes
Scan-To-PayYesYesYesYesYesNoYesYesYesNo
Buy Prepaid LoadYesYesYesNoYesYesYesYesYesYes
Bank TransferYesYesCash-In/Withdrawal OnlyYesYesCash-In/Withdrawal OnlyYesYesNoNo
Physical CardYesYesNoNoNoNoYesNoYesNo
RewardsVouchersVouchers, CashbacksVouchers, CashbacksNoneReward PointsVouchers, DiscountsGrabRewardsCashbacksReward Points and StampsNone
Link

10 Best E-Wallets to Download

The products we introduce below were carefully curated by the mybest team, from the best-sellers of E-commerce sites like Lazada, and using the points mentioned in our detailed and thoroughly researched buying guide.

**Prices may vary depending on the website and their campaign period**

1
Send/Receive MoneyYes
Pay BillsYes
Scan-To-PayYes
Buy Prepaid LoadYes
Bank TransferYes
Physical CardYes
RewardsVouchers
2
Send/Receive MoneyYes
Pay BillsYes
Scan-To-PayYes
Buy Prepaid LoadYes
Bank TransferYes
Physical CardYes
RewardsVouchers, Cashbacks
3
Send/Receive MoneyYes
Pay BillsYes
Scan-To-PayYes
Buy Prepaid LoadYes
Bank TransferCash-In/Withdrawal Only
Physical CardNo
RewardsVouchers, Cashbacks
4
Send/Receive MoneyYes
Pay BillsYes
Scan-To-PayYes
Buy Prepaid LoadNo
Bank TransferYes
Physical CardNo
RewardsNone
5
Send/Receive MoneyYes
Pay BillsYes
Scan-To-PayYes
Buy Prepaid LoadYes
Bank TransferYes
Physical CardNo
RewardsReward Points
6
Send/Receive MoneyNo
Pay BillsYes
Scan-To-PayNo
Buy Prepaid LoadYes
Bank TransferCash-In/Withdrawal Only
Physical CardNo
RewardsVouchers, Discounts
7
Send/Receive MoneyYes
Pay BillsYes
Scan-To-PayYes
Buy Prepaid LoadYes
Bank TransferYes
Physical CardYes
RewardsGrabRewards
8
Send/Receive MoneyYes
Pay BillsYes
Scan-To-PayYes
Buy Prepaid LoadYes
Bank TransferYes
Physical CardNo
RewardsCashbacks
9

7-Eleven PhilippinesCLiQQ by 7-Eleven

From ₱0

Send/Receive MoneyYes
Pay BillsYes
Scan-To-PayYes
Buy Prepaid LoadYes
Bank TransferNo
Physical CardYes
RewardsReward Points and Stamps
10

M. Lhuillier Financial Services Inc.ML Wallet

From ₱0

Send/Receive MoneyYes
Pay BillsYes
Scan-To-PayNo
Buy Prepaid LoadYes
Bank TransferNo
Physical CardNo
RewardsNone

How to Invest in GCash

One of the perks of having an e-wallet is that you can maximize its features not just to spend money but also to invest! GCash has launched GInvest, an investment marketplace which allows its users to start investing for as little as Php 50. To know more, check out these tips from Nicole Alba, a Youtuber who makes videos about personal finance and investing.

Steps:

  1. Download the GCash App and create an account.
  2. Verify your account by taking a photo of your valid ID and filling in the details. You have to be at least 18 years old to start GInvest.
  3. Activate your email address since that's where you will get updates.
  4. Look for the GInvest icon in the app and answer a risk assessment questionnaire.
  5. Wait for the confirmation via text or email.
  6. Buy funds!


GInvest offers an easy way to invest your money in different types of funds. Make sure to study and research first before investing, and remember that the funds you buy will take a couple of days before they actually reflect on your GCash account. Good luck on your investing journey!

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

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