e-wallet gambling ban Philippines

The Philippine Amusement and Gaming Corporation (PAGCOR) reported a 49% decline in revenues following the removal of online gambling links from major e-wallet platforms such as GCash and Maya in August. She attributed the drop to the Bangko Sentral ng Pilipinas (BSP) directive ordering payment platforms to remove icons and links that redirected users to online gambling sites. The BSP issued the order on August 14, following a Senate inquiry into stricter regulations or a potential ban on online gambling. Lawmakers also questioned e-wallet providers about their previous earnings from online gambling transactions. The BSP said it is finalizing new regulations for e-wallets and banks that will include limits on betting amounts, restrictions on gaming top-ups, and a ban on using online loans for gambling. Other planned measures include pop-up alerts, self-exclusion options for users, and a ban on gambling ads and links within financial apps. The Bangko Sentral ng Pilipinas (BSP) has ordered e-wallets to unlink their platforms to online gambling sites within 48 hours. BSP Deputy Governor Mamerto Tangonan has stated that they have issued an order for e-wallet platforms to remove links in-apps to allowing users to use e-gambling sites. Read more in our articles including "PAGCOR revenue drops nearly half after e-wallets cut gambling links" and "BSP issues e-wallets to unlink from online gambling sites".