Yes they are, especially visa. the only problems I had were with Chip and Pin on my Visa debit Card. Some places had problems with my card. PCI Equitable machines were ok. Manila and other big cities such as Cebu, CdO and Davao should be OK but in smaller ones I never knew where my card would work and where it would not until I tried it. Can be embarrassing! Hotels and larger restaurants and stores should be ok. Cinemas also.
On one occasion it turned out my bank had put a stop on the Debit Card as they thought it was being used fraudulently since I had been to several countries over a short time frame. You might contact your bank prior to going to avoid that.