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.
