#contactless payment

After BSP confirmed Apple Pay is not classified as an operator of payment system (OPS), they have stated that they may launch in the Philippines at any time. This follows our previous report of the payment platform’s registration in development. Payments are processed using a virtual account number instead of the actual card information. Users can add security with a screen lock requiring a PIN, pattern, or fingerprint before making payments. The BSP previously stated that Google Pay and Apple Pay are not required to register as Operators of Payment Systems. BSP Deputy Governor Mamerto Tangonan clarified that the two platforms are not considered operators of payment systems (OPS) since they will not hold funds for Filipino users. “They’ll just read the credentials; the money doesn’t pass through them,” Tangonan explained, emphasizing that accountability still falls on the payment service providers (PSPs) such as banks and e-money issuers. This move comes as BSP data shows digital payments in 2024 hit 57.4% of monthly retail transactions—well above the government’s target under the Philippine Development Plan. Read more in our articles including "BSP states Apple Pay free to launch in Philippines anytime" and "Google Pay reportedly set for November launch in the Philippines".