Philippine Central Bank to Restrict iGaming Transactions Amid Growing Digital Finance Risks

Tighter Oversight to Safeguard Digital Finance

The BSP’s forthcoming advisory outlines key measures, including advanced identity verification using biometrics and facial recognition to ensure only eligible individuals can access gambling-related financial services. It also sets daily limits on gambling-related transfers, introduces time restrictions to deter impulsive behavior, and provides tools for users to set personal spending caps or voluntarily block gambling transactions altogether.

“These safeguards are intended to minimize the risks of addiction, fraud, and financial harm, while encouraging responsible use of digital financial platforms,” the BSP said. “We remain committed to building a secure, trustworthy, and inclusive digital finance ecosystem for all Filipinos.”

The move comes amid mounting public concern over the role of digital platforms in enabling problem gambling, particularly among minors and vulnerable groups. Lawmakers have also proposed stricter legislation, including a ban on direct connections between gambling sites and digital wallets.

GCash Responds with Responsible Gambling Features

In anticipation of tighter regulations, GCash—one of the Philippines’ largest e-wallet providers—has announced new features to help users manage their gambling activities. Backed by Globe Telecom, the company said its upcoming tools will align with the BSP’s advisory and existing guidelines from the Philippine Amusement and Gaming Corporation (PAGCOR).

Local media report that GCash will soon roll out a “self-exclusion” feature, allowing users to voluntarily restrict access to gambling services either temporarily or permanently. Users will also be able to set custom deposit limits for gambling transactions, both in terms of amount and frequency.

Additional interface changes are planned to increase friction when accessing gambling merchants, such as extra navigation steps and de-branding gambling-related pages. Responsible gambling messages and educational content will also appear throughout the app.

GCash confirmed that age-based restrictions are already in place to prevent users under 21 from participating in gambling through the platform. The new features are part of its broader commitment to responsible gambling.

A New Era of Regulation for iGaming and Fintech

The joint actions of BSP and GCash indicate a shift toward stricter oversight of online gambling within the digital finance landscape. While the BSP has yet to announce an official implementation date, the public consultation phase has concluded, and enforcement is expected to begin soon.

As scrutiny intensifies around gambling-related harm, underage access, and financial fraud, more fintech platforms are expected to follow suit and tighten controls