Philippine banks are getting ready to support Apple Pay and Google Pay by updating their card systems. The key step is tokenization, which replaces sensitive card details with a secure digital version stored on a user’s device. This helps protect account information during mobile payments.
According to GMA News Online, BPI President TG Limcaoco said that banks must first make sure their cards can be tokenized. He added that Apple Pay and Google Pay will likely wait until several banks are ready before going live. Launching with just one bank wouldn’t make sense, he said.
The Bangko Sentral ng Pilipinas (BSP) said Apple Pay and Google Pay don’t need to register as payment service providers in the country. That’s because they won’t hold money for users, clearing the way for their launch.
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BPI is still working on its systems and expects to be ready by 2026. Limcaoco said it would be a missed opportunity for any bank not to join once the services roll out.
