Apple Pay and Google Pay are not required to register as operators of payment systems (OPS) with the Bangko Sentral ng Pilipinas (BSP) as they do not handle funds or operate as digital wallets, a senior BSP official clarified.
BSP Deputy Governor Mamerto Tangonan said the central bank has determined that the two global platforms function solely as technology service providers — facilitating secure payments without engaging in clearing or settlement functions.
“We just want to clarify that the language of the regulation does not apply to them,” Tangonan said in a press briefing online.
He explained that based on a review, Apple Pay and Google Pay do not meet the criteria for OPS under the National Payment Systems Act, which defines an OPS as any entity that provides clearing or settlement services within a payment system.
While the BSP initially considered requiring both platforms to register when they expressed interest in entering the Philippine market in 2024, Tangonan said their roles were reassessed.
“They don’t process or hold money, they only read credentials. The payment doesn’t pass through them, and there are no contracts with merchants,” he said.
He emphasized that financial institutions or payment service providers (PSPs) that integrate Apple Pay or Google Pay remain fully accountable to the BSP.
“If anything happens, the one accountable to us is the PSP,” Tangonan added.
Although Apple Pay and Google Pay are commonly referred to as wallet apps, the BSP does not classify them as digital wallets or OPS under Philippine law.
As of July 25, the BSP has registered 305 OPS, including major players such as GCash, GrabPay, Maya, Alipay (Lazada Wallet), and Dragonpay.
