#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. Photo: insiderph.com "By enabling partners to facilitate barcode-enabled deposits and withdrawals, as well as account openings and product applications just by scanning a QR code, we are bringing full-service banking to any community in the Philippines—even the most remote islands," said Rally Jereza, head of BPI Agency Banking. Read more in our articles including "PAGCOR revenue drops nearly half after e-wallets cut gambling links" and "Sun Cellular 3G: Speed Up, Price Down ".