Manila, Philippines, August 19, 2026 – TransUnion (NYSE: TRU), a global information and insights company and the Philippines’ first comprehensive private credit reference agency, today released its fourth annual Credit Perception Index (CPI). The Philippines’ 2026 CPI score rose to 75 out of 100, the highest level recorded since the study was launched. The increase was mainly driven by improvements across three score factors: favorability (+4 points), product trust (+3 points) and product knowledge (+3 points).

TransUnion CPI Score and Score Factors* of the General Population

Introduced in 2023, the CPI examines how Filipinos perceive and engage with credit, including the factors that influence their attitudes, behaviors and financial decisions, with the goal of supporting broader financial inclusion in the Philippines.

Beyond the record-high CPI score, the study found that financial confidence softened amid inflation and cost-of-living concerns, even as consumers took proactive steps to strengthen their financial wellbeing. The findings also point to growing momentum for digital banks, shifting borrowing preferences toward formal financial institutions and clear factors that influence consumer trust.

“What stands out this year is that confidence in credit continued to improve even as consumers faced a more challenging economic environment,” said Peter Faulhaber, President and CEO of TransUnion Philippines. “With household budgets remaining under pressure, we might have expected consumers to become more hesitant. Instead, we're seeing greater trust, familiarity and willingness to engage with formal financial products. That signals a maturing credit market and creates new opportunities to expand access responsibly.”

This growing engagement was reflected in continued increases in financial product adoption. eWallets remained the most widely held product at 80%, up four percentage points [pp] from 2025, while buy now, pay later (BNPL) services recorded the strongest growth in adoption (+8 pp), reaching 26%. Credit card ownership also increased to 38% (+7 pp), with personal loan adoption reaching 26% (+1 pp).

Financial Products Owned by Filipions

Financial Confidence Softens, but Consumers Remain Proactive

While attitudes toward credit improved, Filipinos remained cautious about their broader financial outlook. Expectations of financial improvement fell to their lowest levels since 2023, with 64% of consumers expecting their financial situation to improve over the next three months and 73% over the next year, both down three percentage points from 2025. Inflation, rising living costs and energy prices remained the leading concerns affecting future financial wellbeing.

Future Financial Outlook in the Next 3 and 12 Months

In response to these pressures, Filipinos continued to take proactive steps to strengthen their financial wellbeing. Saving remained the most common planned action (86%, +2 pp), while more consumers also intended to access educational materials (73%, +5 pp), explore new digital products and financial technology (FinTech) services (70%, +6 pp), and use a broader range of financial products and solutions (66%, +6 pp). More than two in five (43%, +5 pp) also said they intended to borrow or use credit for purchases in the near future, continuing an upward trend observed since 2023.

“The survey reveals a shift toward more intentional financial decision-making among Filipinos,” Faulhaber noted. “While consumers are more cautious about their financial outlook, they are continuing to save, seek financial education and explore new financial products. These behaviors demonstrate how consumers are proactively adapting to ongoing cost pressures.”

Digital Banks Gain Momentum and Borrowing Preferences Continue to Shift

Credit continues to play an important role in helping Filipinos address everyday financial needs. Emergency expenses (59%), personal expenses (50%) and family expenses (45%) emerged as the most common reasons consumers used credit products and services.

At the same time, borrowing preferences continued to shift toward formal financial institutions. Future borrowing intent increased most for digital banks (+11 pp), followed by traditional banks (+8 pp) and credit cards (+6 pp), while intent to borrow from family and friends declined by 11 percentage points to 45%, reaching its lowest level since 2023.

Borrowing intent

The growing preference for digital banks appears to be supported by rising consumer familiarity and confidence. More than half of Filipinos (52%) reported using a digital bank. Digital banks also recorded the strongest gains in consumer perceptions, with knowledge increasing 15 percentage points to 80% and favorability rising 14 points to 79%, surpassing traditional banks on both measures (at 78% and 76%, respectively). Perceived safety of digital banks also climbed 11 points to 84%, second only to traditional banks at 88%.

Education is Key to Further Credit Adoption

Looking ahead, sustaining positive credit perceptions and supporting further adoption in the Philippines will require continued effort to build consumer knowledge and trust. Amid ongoing public and private initiatives to promote financial education, Filipinos reported that access to clear information still remains a challenge. One in four Filipinos (25%) reported difficulty finding materials related to credit and financial products. Among them, uncertainty about which sources to trust (60%) and information that was too complex or confusing (44%) were the most commonly cited barriers.

The study also revealed the factors most likely to strengthen trust in financial products and services. Transparency (56%), fair or low interest rates (53%), and strong security and fraud protection (52%) emerged as the leading trust drivers among Filipino consumers.

“Our Credit Perception Index underscores an important reality: consumers are increasingly seeking access to formal and digital financial services, but broader financial inclusion requires a coordinated effort to provide clear product information, strengthen financial education and safeguard consumer protection,” said Faulhaber.

“At its core, financial inclusion begins with information inclusion. Through responsible data sharing, we can help more consumers access the formal financial system and enable lenders to make better-informed decisions, paving the way for a more inclusive and financially resilient Philippines.”

In the Philippines, TransUnion advances financial inclusion through collaborations with financial institutions, regulators and wider industry stakeholders. The company helps lenders assess consumers with limited credit histories using alternative data and promotes industry-wide fraud prevention exchange through the Fraud Industry Council, launched in 2024. It also partners with the Bangko Sentral ng Pilipinas (BSP) and the industry to advance credit education and financial literacy.

TransUnion’s Credit Perception Index (CPI) is an annual study conducted exclusively in the Philippines that tracks how Filipinos perceive and engage with credit, the drivers and barriers influencing their behavior, and the implications for the broader financial ecosystem. The 2026 study surveyed 1,000 consumers from May 6-26, 2026, to assess Filipinos’ current attitudes and future openness to credit, examining their knowledge, trust and favorability toward credit and other financial products.

For more information and insights, please view the full report of the TransUnion Credit Perception Index.

*The CPI Score Factors

1. Reservations – Concerns or barriers that may discourage credit use.
2. Stigmas – Negative perceptions associated with credit.
3. Credit messaging – The likelihood to use credit after learning about its potential benefits.
4. Favorability – Overall positive perceptions of credit products.
5. Product trust – The perceived trustworthiness of credit products.
6. Concept knowledge – Self-reported knowledge of a defined concept of credit.
7. Product knowledge – Self-reported knowledge of specific credit products.

Higher scores are more favorable across all factors. Stigmas and Reservations are reverse-scored, meaning higher scores indicate fewer negative perceptions and reservations toward credit.

Manila, Philippines, December 11, 2025 – Filipino households are closing 2025 on firm financial footings, navigating a still-shifting economic environment with a blend of optimism and restraint. The Q4 2025 Consumer Pulse Study by TransUnion (NYSE: TRU), shows that while consumers continue to feel the pressure of daily expenses, they are adapting with a more deliberate approach to both spending and credit use.

Income stability remains a defining theme this quarter. Over two in five consumers (42%) reported an income increase in the past three months, while 41% saw no change, suggesting that while momentum has eased, households are not slipping backward. More importantly, consumers are looking ahead with confidence.

Three in four Filipinos (75%) expect their income to rise over the next 12 months and eight in ten (80%) are optimistic about their household finances for the year ahead. Together, these trends reflect a picture of resilience and steady control. Filipinos are learning to operate within tighter margins, managing pressures without losing confidence in their financial trajectory.

Cautious spending reflects a balanced mindset

Even with improving sentiment, caution remains the dominant feature of household spending. Inflation for everyday goods continues to be the top concern (81%), followed by job stability (57%) and interest rates (45%) — the same priorities Filipinos have held since 2024. This consistency suggests that consumers are budgeting with long-term challenges in mind, not short-term shocks.

Spending behavior also reflects this balance between confidence and caution. Nearly half (47%) of households have scaled back discretionary activities such as dining out and travel. One in four (25%) cut back on digital services, while another quarter (25%) dropped subscriptions or memberships altogether. Half of Filipinos (50%) also expect to spend less on holiday shopping compared to last year, showing more deliberate spending even during traditionally high-consumption periods.

Looking ahead, consumers expect further shifts in their cost structure: 47% foresee rising bills and loan payments next quarter, 42% expect medical costs to increase, and 36% anticipate higher retail spending. Yet, only a minority (27%) plan to increase spending on large purchases like appliances or vehicles. In essence, instead of pulling back from economic activity, Filipinos are redefining what “smart spending” looks like in a high-cost environment.

“The trend mirrors the wider economy — still expanding, but at a calmer pace after two years of rebound,” said Weihan Sun, principal of research and consulting for Asia Pacific at TransUnion. “Consumers are managing spending more pragmatically, especially with Filipinos looking to spend less this holiday season compared to last year. It’s a sign of practical optimism. People are still participating in the economy but are doing so on their own terms and with greater financial intent.”

Credit access remains stable as borrowing becomes more intentional

As households stabilize their finances, their attitudes toward credit are evolving. While close to three in every five Filipinos (58%) say access to credit is very important for achieving their financial goals, this marks a slight dip from the same time last year, hinting that consumers are depending less on borrowing for immediate needs and more for deliberate, planned financial actions.

Confidence in credit access remained steady with 42% saying they have sufficient availability. Gen X (47%) and Millennials (46%) remain the most confident. However, the more significant shift lies in how people choose to borrow. Intent to apply for or refinance credit fell to 47% from 53% last year, and most planned borrowing now leans toward smaller, more flexible products such as personal loans (49%) and buy now, pay later (BNPL) (35%) arrangements.

Even abandoned applications reduced, dropping to 56% from 64% last year, though high borrowing costs (31%), possible rejection due to income or employment status (28%), and lengthy processing times (24%) still create friction. Overall, the data paints a maturing market: credit remains available, but Filipinos are making decisions with more scrutiny and financial self-awareness than before.

“We’re seeing a real shift in how Filipinos view credit. It’s moving from being a necessity to becoming a choice,” added Sun. “Credit remains available, but consumers are weighing their options more carefully, guided by how secure they feel about their jobs and savings. It’s a more thoughtful use of credit as a tool, not a crutch. As this mindset continues to evolve, it’s equally important for consumers to stay informed by regularly monitoring their credit health.”

Empowering Filipinos with accessible credit education

Recently, TransUnion announced its partnership with the Bangko Sentral ng Pilipinas (BSP) to introduce an interactive credit education module on the BSP E-Learning Academy (BELA) to help consumers understand and manage their credit scores. These resources will provide practical guidance on building and maintaining healthy credit profiles, equipping Filipinos with the knowledge to make informed financial decisions. The modules are set to be available starting next year.

This milestone marks the first collaboration between BSP and a credit reference agency on financial education initiatives through BELA in the Philippines, underscoring a shared commitment to financial literacy and inclusion. By delivering accessible, engaging content, the initiative aims to strengthen financial resilience and unlock better opportunities for millions of Filipinos.

“As more Filipinos take a more intentional approach to their finances, ensuring they have the right guidance and support will be key to helping them build long-term financial resilience,” said Sun.

TransUnion’s Consumer Pulse Study surveyed 961 adults from September 25 to October 15, 2025. This quarterly survey examines shifting consumer attitudes and behaviors based on the dynamics of income, debt, and identity theft. Respondents ranged from Gen Z, 18-28 years old; Millennials, 29-44 years old; Gen X, 45-60 years old; and Baby Boomers, age 61 and above. By capturing insights across generations and financial situations, the study helps promote greater financial inclusion by informing policies, products, and education efforts that meet the evolving needs of all consumers.

For more information, please view the full report of the TransUnion Q4 2025 Consumer Pulse Study.

Manila, Philippines, August 19, 2025 – TransUnion (NYSE: TRU), a global information and insights company and the Philippines’ first comprehensive private credit reference agency, today released its third annual Credit Perception Index (CPI). As an important part of TransUnion’s ongoing commitment to promote credit literacy and financial inclusion in the country, the CPI examines how Filipinos perceive credit, the drivers and barriers influencing their behavior, and the implications for the broader financial ecosystem.

The Philippines’ 2025 CPI score stands at 73 out of 100, only slightly lower from 74 in 2024¹, signifying overall stability in credit sentiment. While most CPI score factors such as favorability, concept knowledge, product knowledge, reservations and stigmas remained relatively steady, trust in credit products increased significantly by six points.

Conversely, credit messaging receptivity—the likelihood to use credit after learning about its potential benefits—dropped by nine points. This decline may be attributed to external factors such as higher interest rates and growing concerns about digital fraud.

TransUnion CPI Score and Score Factors of the General Population

Knowledge and interest remain strong

The overall stability of the CPI score is underpinned by a well-established understanding of credit and a growing appetite to engage with financial products. More than two-thirds (69%) of Filipinos say they are knowledgeable about what credit is, in general. Moreover, interest in learning about specific credit products grew, especially for payday loans (+7 percentage points [pp]), micro loans (+7pp), mobile loans (+6pp), personal loans (+5pp), and buy now, pay later (BNPL) (+5pp).

“We are glad to see the CPI score holding largely steady in 2025, supported by growing trust in credit products. More encouragingly, this year’s CPI results also tell us that Filipinos are eager to learn more about financial options that are relevant, accessible, and suited to their needs,” said Peter Faulhaber, President and CEO of TransUnion Philippines. “This increasing openness is a positive indicator of progress. As financial literacy deepens, we anticipate even greater familiarity, trust and responsible use of credit – key pillars in building a more inclusive and robust financial ecosystem in the Philippines.”

Barriers to credit use linger

Despite positive gains in trust and openness, external factors continue to hold back Filipinos from actively using credit. Across all three population groups surveyed—the general population, the unbanked and the financial technology (FinTech) users—high interest rates emerged as the top deterrent to credit usage, cited by 59%, 52% and 61%, respectively. Concerns about scams and fraud followed closely, affecting 52% of the general population, 47% of the unbanked and 52% of FinTech users. These figures highlight widespread apprehension about security threats across different population groups, regardless of their CPI score.  

Indeed, security and trust emerged as key consumer considerations when choosing to engage with financial institutions, cited by more than half (58%) of the respondents, just slightly behind convenience at 60%.

These findings underscore a critical challenge: while trust is improving, consumers still require stronger assurances through safer and more supportive credit environments. Addressing these concerns will be key to unlocking broader participation in the credit ecosystem and advancing financial inclusion across all segments of the population.

Narrowing gap between general population and the unbanked

A closer look at population segments reveals that the TransUnion CPI score for the unbanked Filipinos rose by two points—from 65 in 2024 to 67 in 2025—reducing the gap with the general population from nine to six points. Notably, this two-point increase among the unbanked also outpaced that of the general population (+2 points vs. -1 point). This improvement was primarily driven by significant gains in credit product trust (+9 points) and knowledge (+8 points).

TransUnion CPI Scores of the Three Population Groups

The unbanked also demonstrated enhanced understanding across nearly all credit products surveyed, with marked progress in knowledge of mobile loans (+16pp), payday loans (+15pp), automotive loans (+13pp), micro loans (+12pp), personal loans (+10pp) and BNPL (+10pp). These trends suggest growing familiarity with formal credit options, although overall knowledge (56%) still trails behind the general population (69%).

FinTech emerges as the first financial product among younger generations

Recognizing the increasing influence and widespread adoption of FinTech in the country, TransUnion introduced FinTech users as a new population group in this year’s CPI. Among the respondents, FinTech usage is nearly universal, with 91% reporting they use at least one digital financial product.

Most commonly used FinTech products include eWallets (77%), online banks (51%), and digital payment apps (47%). Notably, over one-third (35%) of the general population reported an eWallet as their first financial product, surpassing bank accounts (30%). This trend is especially evident among younger generations, with Gen Z (47%) and Millennials (37%) more likely to start their financial journey with an eWallet, while Gen X and Baby Boomers favored bank accounts at 40% and 34%, respectively.

In terms of credit perceptions, among the three population groups surveyed (general, FinTech, unbanked), FinTech users posted the highest CPI score in 2025 at 74, along with the highest level of general credit knowledge (71%), outperforming both the general population and the unbanked.

“The strong performance of FinTech users and the narrowing gap between the unbanked and general population reflect encouraging momentum toward greater financial inclusion,” said Faulhaber. “However, to fully unlock the benefits of credit and drive broader adoption, we must continue addressing persistent barriers – especially concerns around fraud and security that still deter many Filipinos from engaging with credit. By fostering trust and enhancing financial education, we can empower more Filipinos to participate confidently in the credit economy, helping build a financially resilient population that supports the nation’s journey toward upper-middle income status.”

For more information and insights, please view the full report of the TransUnion Credit Perception Index study.

¹ The 2025 CPI score computation was refined to provide a more holistic and robust view of Filipino consumers and capture shifting perceptions and behaviors. The same formula was applied retroactively to enable year-over-year comparisons.

Manila, Philippines, April 29, 2025 – Based on recently released proprietary insights from TransUnion’s (NYSE: TRU) global intelligence network, the suspected digital fraud rate of digital transactions where the consumer was in the Philippines stood at 13.4% in 2024. This placed the Philippines as the second highest for the suspected digital fraud rate¹ among markets analyzed – following India (19.0%) and preceding the Dominican Republic (10.9%). 

Additional data from TransUnion’s H1 2025 Update to the State of Omnichannel Fraud Report showed that the suspected digital fraud rate in the Philippines was higher than the global level of 5.4% in 2024 – consistently exceeding the global rate for the fifth consecutive year going back to 2020, when TransUnion’s analysis began. The suspected digital fraud rate in the country also increased by 5% from 2023 – a stark contrast to the 8% decrease observed across the globe. 

More Filipinos reported being targeted by fraud and suffering financial loss than global counterparts 

Among consumers surveyed across 18 countries and regions between November and December 2024, over seven in every ten Filipinos (74%) reported being targeted by an email, online, phone call or text messaging fraud scheme in the last three months – much higher than 53% across the markets surveyed. Moreover, over one third (34%) of Filipinos reported losing money due to any of the above mentioned tactics from November 2023 to December 2024, surpassing the global rate of 29%. These trends showed that Filipinos are facing greater risks from fraud, highlighting the need for stronger safeguards to prevent financial losses. 

“The average reported fraud loss among Filipinos last year according to our study was USD768, exceeding PHP44,700 in local currency². While these figures are lower than the median of USD1,747 (approximately PHP101,700) across global markets which TransUnion surveyed, the impact of falling victim to fraud remains significant,” said Yogesh Daware, chief commercial officer at TransUnion Philippines. “Considering average monthly wages in the Philippines, the losses constitute at least over two months of salary³ for most Filipino households.” 

Communities was the industry with the highest suspected digital fraud rate in 2024 

Based on TransUnion’s report, communities, which includes online dating and social media sites and forums, had the highest suspected digital fraud rate among industries for attempted transactions where the consumer was in the Philippines at 19.2% last year. These findings align with global trends as the industry also emerged with the highest suspected digital fraud rate (11.6%) worldwide. However, the suspected digital fraud rate from the Philippines in communities exceeded the global rate by 66%. 

“The number of social media users in the Philippines amounts to 78% of the country’s population⁴. The high volume of users interacting online opens doors for fraudsters to take advantage of unsuspecting victims. Despite a decrease in digital transactions in communities globally and from the Philippines last year, our analysis showed a growth in the number of transactions suspected to be digital fraud. This tells us that fraudsters are ramping up their attacks by targeting more victims and diversifying their tactics,” added Daware. 

Following communities, the retail industry emerged with the second highest rate of suspected digital fraud (13.0%) for attempted transactions where the consumer was in the Philippines last year – higher than 7.6% globally. Although financial services remained among the top three industries most targeted by suspected digital fraud in the Philippines at 6.3%, this rate has significantly decreased by 35% year-over-year (YoY), even as the number of digital transactions in that industry increased by almost one fifth (17%). 

This improvement might be attributed to the ongoing efforts from both the public and private sector to combat fraud in that industry recently. The Philippine government has been intensifying its campaign against scams⁵ and mandated financial institutions and other stakeholders to establish cooperative mechanisms⁶. In support of these directives, TransUnion also launched the Fraud Industry Council (FIC) in 2024 to help drive a collective initiative across the local banking industry to strengthen consumer protection. 

Communities saw the highest suspected digital fraud rate in 2024 from the Philippines, followed by retail and financial services 

Source: TransUnion TruValidate^TM 

“Almost all Filipinos that we surveyed were concerned with falling victim to fraud. While fraud remains a concern in the Philippines, we also see declines in suspected digital fraud in the financial services industry which run alongside intensified efforts from both the public and private sector. However, fraudsters are highly adaptable and constantly evolving their tactics to exploit unprepared victims. Businesses and consumers must remain vigilant to avoid deception. We look forward to seeing more partnerships across companies and even industries to further enhance fraud defenses, with increasing awareness, strengthened collaborations and the friction-right fraud prevention technologies,” said Daware. 

TransUnion came to its conclusions about digital fraud based on intelligence from TransUnion TruValidate. 

Specific country and regional data in TransUnion’s H1 2025 Update to the State of Omnichannel Fraud Report includes Botswana, Brazil, Canada, Chile, Colombia, the Dominican Republic, Guatemala, Hong Kong, India, Kenya, Mexico, Namibia, the Philippines, Puerto Rico, Rwanda, South Africa, Spain, the United Kingdom, the United States and Zambia. Download the TransUnion report for more information and insights about the global fraud trends. 

¹ The rate or percentage of suspected digital fraud attempts reflects those which TransUnion customers determined to meet one of the following conditions: 1) denial in real time due to fraudulent indicators, 2) denial in real time for corporate policy violations, 3) fraudulent upon customer investigation, or 4) a corporate policy violation upon customer investigation — compared to all transactions assessed. The country and regional analyses examined transactions in which the consumer or suspected fraudster was located in a select country or region when conducting a transaction. Global statistics represent every country worldwide and not just the select countries and regions. 
² Based on the exchange rate on Jan. 6, 2025 when calculated for the report. 
³ https://psa.gov.ph/statistics/occupational-wages-survey 
⁴ https://datareportal.com/reports/digital-2025-philippines 
⁵ https://pia.gov.ph/govt-launches-anti-scam-hotline-digital-reporting-initiative/ 
⁶ https://www.bsp.gov.ph/SitePages/MediaAndResearch/MediaDisp.aspx?ItemId=7179