1st Quarter Performance

How Did PCHC’s Payment Systems Fare in the 1st Quarter of 2021 Compared to the Previous Year (2020)?


Check Image Clearing System or CICS


In terms of volume, transaction count in CICS for Q1 of 2021 dipped 17%, from 40,112,018 transactions in 2020 down to 33,291,584 in 2021. It should be noted however, that community restrictions, including limitation of number of bank branches to open for business became effective in the 2nd half of March 2020 thus, January 2020 to 1st half of March 2020 still reflect volume under normal business conditions.


CICS Transaction Value similarly fell in Q1 of 2021 compared to same period of previous year as Clearing Value in Q1 of 2020 reached 10.6 Trillion or roughly 21.7% higher than same period in 2021 which only amounted to 8.3 Billion .


On a monthly basis, in Q1 of 2020, there was an average monthly decrease of 16.6% in volume compared to same period in 2021 which registered an average monthly increase of 7.1%. In terms of value, Q1 of 2020 registered an average monthly decrease of 19.1% compared to an average monthly increase of 6.5% in Q1 of 2021.



Phil. EFT System Operation Network or PESONet












PESONet transaction count in 2021 soared to 338.6%; from 3,703,474 transactions in 2020, it went up to 16,244,182 in 2021. Despite the community restrictions, including limitation of number of bank branches to open for business became effective in the 2nd half of March 2020. PESONet Transactions continued to grow primarily due to government initiative of utilizing electronic payments system in the distribution of SSS benefits to its beneficiary. This move encouraged the Rural Banks and Electronic Money Issuers (EMIs) to participate in PESONet.


Correspondingly, PESONet value more than doubled; transaction amount for Q1 of 2021 reached 950 Billion Php or roughly 128.8%; from 415.0 Billion Php in Q1 of 2020.

On a monthly basis, in Q1 of 2020, there was an average monthly decrease of 3.4% in volume compared to same period in 2021 which registered an average monthly increase of 6.7%. In terms of value, Q1 of 2020 registered an average monthly decrease of 19.1% compared to an average increase of 6.5% in Q1 of 2021.



Philippine Domestic Dollar Transfer System End-of-Day or PDDTS-EOD



PDDTS EOD transaction count in Q1 of 2021 rose to 9.4%; from 29,947 transactions in Q1 of 2020, it went up to 32,766 in Q1 of 2021. Despite the community restrictions implemented during the pandemic and decline in investments, PDDTS EOD Transactions continued to surge on increased remittances from OFWs.


PDDTS EOD transaction value in Q1 of 2021 rose to 38.2%; from US$ 397.2 Million transaction value in Q1 of 2020, it went up to US$ 549.0 Million in Q1 of 2021.

In terms of monthly statistics however, Q1 of 2020 registered a monthly average decrease of 0.7% in transaction volume and a monthly average decrease of 11.5% as well in value. Q1 of 2021 on the other hand recorded a monthly average increase of 8.3% in transaction volume but indicated a monthly average decrease of 0.4% in terms of transaction value.



PDDTS-Real Time Gross Settlement or RTGS


PDDTS-RTGS transaction count in Q1 of 2021 reached 80,558, averaging 26,853 transactions monthly. Q1 of 2021 registered an average monthly increase of 10.6%.



PDDTS RTGS transaction value in Q1 of 2021 registered at US$ 35.26 Billion, having a monthly average value of US$ 11.75 Billion. In Q1 of 2021, RTGS Value showed an average increase of 6.7%; monthly.




PDDTS-Cross-Border


PDDTS Cross-Border transaction count in Q1 of 2021 reached 1,576, having an average monthly transactions of 525. On a month-to-month comparison, Cross-Border Transactions manifested a monthly average increase of 10.9%.



PDDTS Cross-Border transaction value in Q1 of 2021 amounted to US$ 41.06 Billion, having an average monthly value of US$ 13.69 Billion. On a month-to-month comparison, Cross-Border Transactions manifested a monthly average increase of 11.5%.




PDDTS-Payment Versus Payment or PvP


PDDTS PvP transaction count in Q1 of 2021 reached 39,746, having a monthly average transaction count of 13,249. On a monthly comparison, Q1 of 2021 registered a monthly average increase of 15.1%.



PDDTS PvP transaction value in Q1 of 2021 amounted to US$ 150.66 Billion, having an average monthly value of US$ 50.22 Billion. On a monthly comparison, PDDTS PvP in Q1 of 2021 manifested a 0.7% average monthly increase.



1ST QUARTER PERFORMANCE-2021
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