The Bangko Sentral ng Pilipinas (BSP) is in active discussions with tech giants Google and Apple about the potential launch of Google Wallet and Apple Pay in the Philippines. These talks focus on ensuring both platforms comply with the country’s regulations for payment system operators (OPS), a key step before they can operate locally.
BSP Engages Google and Apple on Regulatory Compliance
BSP Deputy Governor Mamerto Tangonan confirmed that the central bank is meeting with Google and Apple to discuss their entry into the Philippine payments ecosystem. Both companies must register as OPS, as their digital wallet services are considered payment system operations under Philippine law.
Tangonan explained, “When you touch the payment system, you are an operator of payment systems. Therefore, they need to register.” The OPS registration process is straightforward and can be completed in about a month once all requirements are submitted.
OPS Registration: Key to Operating in the Philippines
As of now, neither Google Wallet nor Apple Pay has formally applied for OPS registration, but both are actively exploring the market. The BSP currently has 296 registered payment system operators, including merchant acquirers, payment facilitators, and bills payment providers.
OPS registration does not require a special license—only compliance with documentation and local banking partnerships. Both platforms must connect with Philippine banks or e-money issuers, as users will need to link their debit cards, credit cards, or e-wallets to use these services.
No Additional Requirements for Google Wallet and Apple Pay
The BSP clarified that Google Wallet and Apple Pay will not face extra regulatory hurdles beyond OPS registration, as they do not directly hold consumer funds. Their main requirement is to integrate with local financial institutions to enable seamless transactions for Filipino users.
Filipino Consumers Anticipate Digital Wallet Expansion
The potential arrival of Google Wallet and Apple Pay has sparked excitement among Filipino consumers, who are increasingly adopting digital payments. These platforms are expected to bring greater convenience, security, and innovation to the Philippine market, supporting the BSP’s goal of advancing financial inclusion and digital payment adoption.
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