What the money looks like now
The peso in circulation is not a single tidy series, and knowing that saves confusion at a counter.
The central bank's New Generation Currency banknote series has been in circulation since December 2010, and a newer polymer series has been issued in 1000, 500, 100 and 50 piso denominations. Notably, the 200 and 20 piso values are not part of the polymer set. The central bank states clearly that polymer notes circulate alongside the existing paper banknotes and that paper banknotes remain legal tender.
Coins come from more than one series too, with the current coin series launched in 2018 and older coins issued from 1995 still valid.
So you will end a week in Manila with a wallet mixing plastic-feeling notes, paper notes and coins of two designs. All of it spends.
Where cards work comfortably
Card acceptance in Metro Manila follows the size and formality of the business. Shopping malls, hotels, chain restaurants, supermarkets, department stores, cinemas and larger pharmacies are straightforward. So are most bookings you make in advance online.
Digital payment adoption in the Philippines has moved quickly. Government reporting on central bank survey data describes account ownership rising sharply and a majority of retail transactions being done digitally by 2024, alongside a substantial share of adults who remain outside the formal banking system. That combination is exactly what a visitor experiences on the ground: a modern mall where everything is tapped, and a street a block away where nothing is.
Where cash is simply easier
Taxis, jeepneys, small local restaurants, market stalls, neighbourhood shops, tricycles, parking attendants and tips are all cash situations by default. Ride-hailing sits in between: Grab lists cash alongside credit card, debit card and its own wallet, so you can pay either way and cash is a useful fallback on your first day before a card is added.
The mistake visitors make is not carrying too little cash overall, it is carrying it in the wrong shape. A wallet holding only 1000 piso notes is awkward for a short taxi ride or a bowl of noodles, and change is a real constraint for small vendors.
A workable daily setup
Keep enough cash for the day's transport, meals outside malls and incidentals, and leave the rest where you are staying rather than carrying everything. Use a card for the larger, formal purchases where it is expected anyway. Keep a second card separately as a backup, since a single blocked card is the most common way a trip's payments go wrong.
Tell your bank you are travelling if your bank still requires that, and be aware that a foreign card transaction may carry your own bank's currency conversion terms, which is a question for your issuer rather than for a shop in Manila.
Mobile wallets and QR payments
Local mobile wallets are widely used, including for topping up transport cards, and QR-code payments appear in many small businesses. These are generally built around local phone numbers and local bank or wallet accounts, which makes them practical for residents and awkward for short-stay visitors.
For a week-long trip, the honest position is that they are not worth setting up. Cash plus a card covers everything you will realistically encounter.
Before you land
Have a small amount of pesos, or a plan to get some, before you need to pay for your first ride. Airport arrival areas have ATMs and currency counters, with the airport publishing their locations by terminal and level. Withdraw or change slightly more than the ride costs so that your first evening does not begin with a second search for a machine.