The Bangko Sentral ng Pilipinas (BSP) is set to tighten regulations on digital payments linked to online gambling, aiming to protect minors and vulnerable users.
A draft circular proposes safeguards such as daily spending caps, six-hour usage limits, facial biometric verification, and dedicated gambling accounts.
Payment service providers (PSPs) must also disable lending within apps when a gambling account is active and enforce a 24-hour cooling-off period for heavy users.
Gambling operators will face strict licensing and anti-money laundering checks, while financial institutions and their employees are barred from participating in gambling activities.
Violations may result in hefty fines or suspension, with the rules taking effect 15 days after publication and a six-month compliance window for existing PSPs.
Source: PhilNews24 | July 14, 2025
