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The Bangko Sentral ng Pilipinas (BSP) has set a deadline of July 25, 2025, for payment service providers (PSPs) and operators of payment systems (OPSs), to submit comments on its draft circular regulating online gambling-related payment services.
BSP to Curb Online Gambling Risks
On July 3, 2025, the BSP announced it will issue a circular to protect users of digital platforms from online gambling risks, aligning with its financial consumer protection and financial health goals.
The central bank noted that a draft of the circular was released for stakeholder feedback and proposes requiring BSP-supervised institutions, such as banks and e-wallet providers, to implement safeguards, including limits on gaming access. The BSP said it is taking a collaborative approach to ensure a balance between consumer protection and continued access to digital payments for licensed operators.
Accordingly, in a recent report, the BSP has given PSPs and OPSs, including mobile wallets, until July 25, 2025, to comment on a draft circular regulating online gambling-related payment services.
Titled “Regulations on Online Gambling Payment Services,” the proposed rules aim to curb gambling risks by banning links to gambling sites, requiring separate gambling transaction accounts, imposing daily spending limits, and prohibiting lending to gambling account holders.
PSPs must:
- Secure BSP approval
- Meet a minimum ₱300 million capitalization
- Maintain strong anti-money laundering safeguards
- Hold a composite rating not lower than 3
- A board-level AML/CTF compliance oversight.
Additional measures include biometric KYC, transaction monitoring, restricted transaction windows, and mandatory reporting. PSP employees are also barred from participating in online gambling, and non-participating PSPs are encouraged to adopt similar internal policies to uphold integrity and public trust.
Those already offering gambling-related services have six months from the circular’s effectivity to comply or face service suspension.
Fintech Alliance PH Backs BSP’s Online Gaming Safeguards
On the other hand, FinTech Alliance Philippines is ramping up safeguards on digital payment platforms used for online gaming, in support of the BSP’s strengthened regulatory framework aimed at curbing financial abuse, underage access, and illegal gambling activities.
In a statement, FinTech Alliance PH founding chairman Lito Villanueva said the group is committed to working with regulators to implement enhanced safeguards, stressing the industry’s responsibility to protect Filipino consumers amid growing public concerns over the impact of online gaming.
“We are united in our commitment to be part of the solution by working closely with regulators, elevating safeguards, and protecting the welfare of Filipino consumers.”
Lito Villanueva, Founding Chairman, FinTech Alliance PH
The Alliance, which represents the country’s largest coalition of BSP-regulated fintech firms and e-money issuers, flagged urgent risks tied to financial distress, addiction, underage access, and the spread of illegal or unregulated gaming platforms. It emphasized the need for a balanced regulatory approach that supports innovation while protecting vulnerable sectors.
In compliance with the BSP directive, the Alliance said its members will enforce enhanced due diligence for all merchant accounts involved in licensed gaming, ensure real-time detection and blacklisting of unregulated platforms, and fully observe restrictions imposed by the central bank.
Villanueva said access to payment channels for licensed gaming would be strictly controlled, and members will promote awareness of gaming-related risks through community outreach and digital platforms.
“Financial literacy and responsible use are essential pillars of inclusive digital finance. As an industry, we are committed to upholding these values.”
Lito Villanueva, Founding Chairman, FinTech Alliance PH
The Alliance also encouraged evidence-based policymaking and ethical marketing practices to minimize harm linked to online gaming while supporting consumer protection.
What is FinTech Alliance PH
As per its website, FinTech Alliance Philippines is the country’s largest digital industry association, representing over 100 companies responsible for more than 95% of the nation’s digital retail financial transactions.
It works closely with regulators to promote responsible fintech innovation, supports national financial inclusion efforts, and serves as a key resource on digital payments, financial education, and policy development.
FinTech Alliance PH’s membership includes leading firms such as GCash, Coins.ph, Maya, RCBC, CIMB, Cebuana Lhuillier Bank, Tonik, GoTyme Bank, Xendit, Smart Communications, and GrabPay.
Moreover, the group accounts for over 90% of the country’s digital transaction volumes.
This article is published on BitPinas: BSP Sets Deadline for Feedback on New Online Gambling Rules
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