Latest news with #GLife
GMA Network
4 hours ago
- Business
- GMA Network
GCash suspends gaming access on GLife
E-wallet GCash on Saturday suspended its gaming access on its GLife feature in compliance with a directive from Bangko Sentral ng Pilipinas (BSP). GCash suspended the said access at 8 p.m. on Saturday, August 16. "In compliance with Bangko Sentral ng Pilipinas (BSP) Memorandum No. M-2025-029, gaming access on GLife has now been suspended as of 8 PM, August 16, 2025," it said in an advisory. GCash, operated by G-Xchange Inc., advised those with funds from their gaming wallet to "coordinate directly with the licensed gaming merchant or by visiting their official website." G-Xchange Inc. is regulated by the BSP, which issued Memorandum No. M-2025-029 on August 14. The said memorandum ordered the suspension of in-app gambling access in mobile payment apps and websites. "In view of the surge in online gambling transactions and the heightened public concern on its financial health impact to consumers, the Monetary Board in its Resolution No. 805 dated 14 August 2025, approved the suspension of in-app gambling access from BSIs' [BSP-supeprvised institutions] mobile payment apps and websites pending the issuance and implementation of the corresponding policy that provides standards and expectations for BSls in the provision of on line gambling payment services," the BSP memorandum read. "Accordingly, all BSls are hereby instructed to remove links providing in-app gambling access in BSIs' mobile payment apps and websites within 48 hours upon issuance of this Memorandum. ln-app gambling access includes any product/service that redirects an account holder to a gaming/gambling site," it read. —KG, GMA Integrated News
GMA Network
3 days ago
- Business
- GMA Network
GCash to suspend access to gaming via GLife on Saturday, August 16, 2025
In an advisory, GCash said users may withdraw their funds from their gaming account back to their GCash wallet through GLife only until Saturday, August 16, at 8 p.m. Mobile wallet GCash has announced that it would suspend access to gaming via GLife on Saturday, August 16, at 8 p.m. In an advisory, GCash said users may withdraw their funds from their gaming account back to their GCash wallet through GLife only until Saturday, August 16, at 8 p.m. "After this, users who have remaining funds can only access this directly through the gaming merchant website," GCash said. "We share the commitment of the Bangko Sentral ng Pilipinas (BSP) in maintaining a safe, secure, and responsible digital environment for all," it said. GCash said it would fully comply with the BSP's Memorandum No. M-2025-029, mandating the suspension of in-app gaming access in mobile payment apps and websites in BSP-supervised institutions (BSIs). The e-wallet said it supported the adoption of stronger safeguards on online gaming and will continue to work with regulators and industry partners to protect the financial health of Filipinos. The BSP on Thursday said it has ordered e-wallets to take down icons and links of online gambling platforms within 48 hours. BSP Deputy Governor Mamerto Tangonan made the announcement during a hearing of the Senate Committee on Games and Amusement, saying that the directive was given within the day. By Sunday, he said, e-wallets should be disconnected from online gaming platforms. 'The Monetary Board of the [BSP] has approved our policy that we asked... we ordered, directed the BSP supervising institutions to take down and remove all icons and links redirecting to gambling sites,' Tangonan said. –NB, GMA Integrated News
