Apple Pay may enter the Philippine market at any time as the Bangko Sentral ng Pilipinas (BSP) has already ruled that it is not an operator of Pay.ment System (OPS), an official said.
“We remain firm in our determination that this is not OPS,” BSP Deputy Governor Mamerto E. Tangonan told reporters on the sidelines of the central bank's annual reception for the banking community on Friday. “So, Google Pay has launched. So, it's up to them (Apple Pay) as to when they will launch.”
The BSP said in mid-2025 that both Google Pay and Apple Pay are technology service providers, not OPS, and do not need to register with the regulator as they do not hold funds but process payment credentials, and there is also no contract between them and merchants.
In November, Google Pay entered the Philippines through the launch of Google Wallet, which allows users to link debit or credit cards to the e-wallet.
Earlier reports said Apple Pay could be available by the third quarter. However, Mr. Tangonan said he had not been informed regarding the timing.
Asked whether the central bank was in talks with Apple Pay, he said: “When we said, 'Ah, OK, we don't consider it OPS,' that's it.”
The BSP defines an OPS as an entity that provides clearing or settlement services in a payment system, or defines, prescribes, designs, controls or maintains the operational framework for the system.
Its functions include the maintenance, operation or provision of platforms or systems that enable payments or fund transfers.
Based on BSP data, as of January 16, 312 OPS have been licensed to operate in the country. — Katherine K. chan