The central bank of the Philippines, Bangko Sentral ng Pilipinas, has directed all e-wallet providers to remove any icons or links that connect users to online gambling platforms within 48 hours. The order was delivered during a Senate Committee hearing by Deputy Governor Mamerto Tangonan, following approval from the Monetary Board. Senator Erwin Tulfo emphasized the seriousness of the decision, warning that companies could face contempt proceedings if they fail to comply by the deadline.
GCash, the country’s largest e-wallet provider, has already confirmed its compliance. The company announced that it will suspend access to gambling services through its GLife app, with players instructed to retrieve remaining funds directly through the gaming sites involved. The BSP framed this directive as a move to protect consumers and to strengthen oversight of the digital financial system.
Impact on the iGaming Market
The decision marks a turning point for the Philippine iGaming industry, which has grown rapidly over the past decade and become one of Asia’s most active markets. By cutting e-wallet access, regulators have effectively removed a key payment channel that made gambling platforms easily reachable for millions of users. This could lead to reduced activity on gaming platforms and may force operators to explore alternative payment solutions to maintain player engagement.
The policy also highlights a growing focus on responsible digital finance in the region. Regulators are increasingly concerned about the risks of unregulated gambling and the impact it can have on consumers. Removing direct links from widely used financial apps is intended to limit exposure, encourage accountability, and ensure that players interact with gambling services in a more controlled environment.
GCash has stated that it supports the directive and views it as consistent with its own commitment to maintaining a secure and trustworthy digital ecosystem for Filipino users. For now, players who used the GLife feature are given a window to withdraw or redirect their funds, after which all claims must be made through the gaming platforms themselves.
Next Steps for Regulators and Operators
The directive may serve as a first step toward broader reforms. Lawmakers are expected to consider additional measures that could further restrict access to gambling platforms through digital financial services. Other countries in Asia may also study this decision closely, as the Philippines has often been viewed as a leader in both iGaming innovation and regulatory development.
