Latest news with #Tangonan
GMA Network
3 days ago
- Business
- GMA Network
Maya to disable access to gaming sites via Games feature, effective Aug 16, 2025
Mobile wallet Maya has announced it will disable access to online gaming sites within its application on Saturday, August 16, 2026 at 8 p.m. In an advisory, Maya said until such time 'customers may withdraw any remaining funds from linked gaming accounts back to their Maya Wallet via the Games feature.' 'After the deadline, customers may withdraw their funds directly through the gaming provider's website or app,' it said. Maya's move was in compliance with the Bangko Sentral ng Pilipinas's (BSP) order for e-wallets to take down icons and links of online gambling platforms within 48 hours. 'Maya fully supports the Bangko Sentral ng Pilipinas (BSP) and other government efforts to ensure a safe, responsible, and resilient financial system for all Filipinos,' Maya said. 'We will always safeguard our customers and ensure uninterrupted availability of all our financial services. Maya will continue working closely with regulators and industry partners to uphold the highest standards of consumer protection and full compliance with all regulations,' it added. BSP Deputy Governor Mamerto Tangonan made the announcement during a hearing of the Senate Committee on Games and Amusement on Thursday, 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. — LA, GMA Integrated News
Filipino Times
3 days ago
- Business
- Filipino Times
BSP orders e-wallet platforms to cut online gambling links within 48 hours
The Bangko Sentral ng Pilipinas (BSP) has directed electronic wallet platforms to remove links to online gambling sites within 48 hours, citing concerns over the growing prevalence of the vice. BSP Deputy Governor Mamerto Tangonan issued the order during a Senate Games and Amusement Committee hearing on August 14. Explaining the two-day deadline, Tangonan said the timeframe was meant to give all platforms enough time to take down the gambling links and inform the public. He said the links are expected to be inaccessible by Sunday morning. 'We will also sanction the concerned (e-wallet platforms),' Tangonan warned, stressing the central bank's commitment to protecting consumers and preventing financial systems from being exploited for online gambling. Earlier this year, the BSP released a draft circular regulating the digital marketplace operations of banks and electronic money issuers. The proposal includes a prohibition on offering products or services related to gambling activities such as online casinos, online betting, and electronic gaming. In July, the Philippine Amusement and Gaming Corporation (PAGCOR) ordered the removal of gambling billboards and other outdoor advertisements by August 15. The online gambling industry remains divisive among lawmakers. Senators Joel Villanueva, Migz Zubiri, Raffy Tulfo, and Pia Cayetano have called for an outright ban, while Senators Win Gatchalian and Risa Hontiveros favor tighter regulations. PAGCOR Chairman and CEO Alejandro Tengco has expressed reservations over a total ban, noting the sector generated about ₱50 billion in 2024, with half of the revenue funding programs such as the Universal Health Care Act, the Philippine Health Insurance Corporation, the Philippine Sports Commission, and the Dangerous Drugs Board. 'If properly regulated, online gaming can be a major contributor to government services and economic development,' Tengco said in a July 8 interview on One News's Storycon.
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
Filipino Times
04-08-2025
- Business
- Filipino Times
BSP: Apple Pay, Google Pay Can Launch in PH Without Special License
The Bangko Sentral ng Pilipinas (BSP) announced that Apple Pay and Google Pay do not need to register as operators of payment systems (OPS) in the Philippines, as they do not hold or process funds directly. According to BSP Deputy Governor Mamerto Tangonan, both firms act purely as technology service providers, with no digital wallets or fund-holding features in their Philippine rollout. Transactions are simply routed through existing financial institutions, and payments are executed via near-field communication (NFC) using linked debit, credit, or e-wallet accounts. 'Since the money doesn't pass through them, and there's no contractual relationship with merchants, they don't qualify as OPS,' Tangonan explained. In contrast, in other countries where Apple Pay operates wallets that store funds, it would be classified differently. Tangonan added that it remains the responsibility of banks and financial institutions to evaluate and manage their integration with Apple Pay and Google Pay. He noted this may be why some local PSPs (payment service providers) are proceeding with caution. BSP Governor Eli Remolona Jr. also reported strong growth in digital payments in the country, with over 57% of all retail transactions processed digitally in 2024, surpassing government targets. This reflects growing consumer trust in digital financial services.
GMA Network
03-08-2025
- Business
- GMA Network
Apple Pay, Google Pay can launch in PH without BSP registration
The Bangko Sentral ng Pilipinas (BSP) has deemed that mobile payment providers Apple Pay and Google Pay do not qualify as operators of payment systems (OPS) in the country as they do not plan to hold funds for Filipino users, removing the need for prior registration. According to BSP Deputy Governor Mamerto Tangonan, discussions with the two firms found that both Apple Pay and Google Pay are only technology service providers, and will not have to register with the central bank as OPS. 'We deemed them not to be an OPS because their activity is not an OPS activity,' he said in a recent interview. 'Kung ganyan lang, kasi walang wallet, wala eh, hindi dumadaan sa kanila 'yung pera. Babasahin lang 'yung credentials, tapos walang contract between them and the merchants. OPS ka kung sa ibang countries, Apple Pay may account na nagho-hold ng funds, pero 'yung execution nila dito, walang ganon,' he added. (If it's just like that, because there's no wallet, there's nothing, the money doesn't pass through them. They'll just read the credentials, and there's no contract between them and the merchants. You'd be considered an OPS if, in other countries, Apple Pay has an account that holds funds, but the way they execute here, there's no such thing.) Both Apple Pay and Google Pay allow users to make financial transactions through near-field communication (NFC) devices, enabling users to tap their smartphones or smartwatches to make payments using linked debit or credit cards and e-money accounts. Tangonan earlier said both firms are exploring offering their services to the Philippine market, but would have to first secure registration with the BSP as OPS. Discussions showed that they function only as third-party technology service providers. '[They are] technology service providers, so it's up to the financial institution to assess them, kasi ang responsible sa BSP, 'yung financial institution. So if anything happens, the one accountable to us is PSP [payment service provider], so that's why they're being careful, maybe, although proven naman sa world,' he said. (They're technology service providers, so it's up to the financial institution to assess them, because the entity responsible to the BSP is the financial institution. If anything happens, the one accountable to us is the PSP, so that's why they're being careful, maybe, although they are already proven worldwide.) "So ngayon, sabi namin, PSP, it's your responsibility. Eh siguro because it's their responsibility, baka talagang ine-evaluate nilang mabuti," he added (So now, we said PSP, it's your responsibility. Maybe because it's their responsibility, they are evaluating it thoroughly.) Data from the BSP show that digital payments accounted for 57.4% of the total volume of monthly retail transactions, and 59% in terms of value in 2024, higher than the target of 52% to 54% set under the Philippine Development Plan 2023-2028. 'These figures reflect the continued shift toward digital channels and the growing trust of Filipinos in using digital financial services,' BSP Governor Eli Remolona Jr. said in his message in the central bank's 2024 Status of Digital Payments in the Philippines report. — BM, GMA Integrated News
