Apple Pay and Google Pay can operate in the Philippines without registering with the Bangko Sentral ng Pilipinas (BSP). The central bank said both services are not considered Operators of Payment Systems (OPS) because they don’t hold or process money directly.
Instead, they act as technology service providers. They just read user credentials and connect to debit cards, credit cards, or e-wallets to complete payments. Since they don’t manage funds or have contracts with merchants, they don’t fall under the OPS category.
BSP Deputy Governor Mamerto Tangonan explained that in other countries, Apple Pay can hold funds in wallets, which would require registration. But in the Philippines, their setup is different. Local financial institutions are responsible for evaluating and integrating these services. This also means that if there are issues, the payment service providers (PSPs) are accountable, not Apple Pay or Google Pay.
Both services support NFC payments, where users can tap their smartphones or smartwatches on compatible terminals to pay. This could also allow tap-to-pay access at the recently introduced MRT turnstiles for cashless payments.
Apple and Google are currently exploring ways to offer their payment platforms in the country.
This move could benefit users of local e-wallets like GCash and Maya. Once available, Apple Pay and Google Pay could allow users to link their e-wallets for tap-to-pay convenience. This could expand how people use their phones and watches for everyday payments, including transit and retail.
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