The Bangko Sentral ng Pilipinas (BSP) has given payment service providers (PSPs) and operators of payment systems (OPSs), including mobile wallets, until July 25, 2025, to comment on a draft circular aimed at curbing their links to online gambling.
The proposed “Regulations on Online Gambling Payment Services” seek to promote responsible digital financial practices and mitigate associated risks. Key provisions include removing links to online gambling websites; creating separate accounts for online gambling; imposing a daily limit on the balance users can utilize for gambling; and prohibiting lending options for gambling account holders.
All PSPs and OPSs engaging or intending to engage in online gambling payment services should secure prior authority from the BSP and meet several requirements such as a composite rating not lower than 3; a minimum capitalization of P300 million; strong anti-money laundering and counterterrorism financing (AML/CTF) risk management; and a board-level committee on AML/CTF compliance.
The draft circular explicitly states that “PSPs that offer or facilitate online gambling payment services shall not be allowed to provide links to online gambling websites or otherwise provide any functionality that will redirect a user to an OGO [online gambling operator] platform.”
PSPs are required to facilitate the creation of a separate online gambling transaction account (OGTA) for eligible account owners.
They are required to include implementing enhanced Know Your Customer (KYC) measures to ensure only eligible account owners open an OGTA; allowing only one OGTA per eligible account owner; mandating facial biometric verification for account opening and periodic re-verifications to reduce fraud; and strict monitoring of transactions to and from the OGTA, determining frequency and velocity, and detecting unusual or suspicious transactions in accordance with AML/CTF risk management policies.
The BSP circular also imposes a daily limit on fund transfers to the OGTA, not exceeding 20 percent of the average daily balance of the eligible owner’s transaction account. Incoming fund transfers beyond this limit will be rejected.
Additional restrictions include a transaction window not exceeding six hours per day; a 24-hour “cooling off” period after heavy usage; and disabling all lending options on digital platforms for OGTA holders.
PSPs and OPSs are required to submit monthly reports to the BSP detailing transaction volumes and values, user numbers, frequency of access and transactional data.
Employees of PSPs and OPSs are prohibited from engaging in online gambling activities.
PSPs currently providing online gambling payment services will have six months from the circular’s effectivity to secure the necessary authority from the BSP and comply with all requirements. Failure to comply within the prescribed period will result in the immediate cessation of services related to online gambling until full compliance is achieved.
