The Bangko Sentral ng Pilipinas (BSP) on Thursday ordered electronic wallets, including GCash and Maya, to sever links to online gambling platforms within 48 hours.
“We ordered them today [to remove links to online gambling] within 48 hours,” BSP Deputy Governor Memento Tangonan said at a Senate hearing conducted by the Games and Amusement Committee chaired by Senator Erwin Tulfo.
“The Monetary Board has approved our policy that we asked or we order, direct the BSP supervised institutions to take down and remove all icons and links redirecting to gambling sites,” Tangonan said.
Tangonan said the BSP is “committed to protecting consumers and ensuring financial systems are not exploited for unregulated gambling activities.”
Responding to the report, GCash said it would fully comply with the BSP’s proactive directive to remove links and icons that connect payment apps to online gambling platforms.
“We share the BSP’s commitment to ensuring that digital financial services are used responsibly and in ways that protect the welfare of Filipinos,” GCash said in a statement.
“Once we receive the official directive, we will immediately enforce the necessary changes to ensure compliance and safeguard our users,” it said.
Maya Philippines also said Thursday it is ready to comply with the BSP directive to remove links to online gambling from its app.
“The update will be implemented in line with the BSP’s guidance. We assure customers that their accounts and transactions remain secure and fully operational,” it said.
“We remain focused on serving our customers while fully complying with regulatory requirements,” Maya said.
The BSP previously announced its intention to issue a circular to protect users of digital platforms from risks associated with online gambling, aligning with its financial consumer protection and financial health objectives.
The circular aims to require BSP-supervised institutions (BSIs), primarily banks and electronic money issuers, to enhance user protection on their digital platforms, potentially through various limits on gaming access.
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