The Bangko Sentral ng Pilipinas (BSP) has clarified that Apple Pay is free to enter the Philippine market at any time, having determined that the service does not require specific regulatory registration.
This distinction means the service does not hold user funds or maintain direct contracts with merchants, but instead processes payment credentials. Consequently, it falls outside the registration requirements mandated for standard payment operators.
BSP Deputy Governor Mamerto E. Tangonan confirmed the regulator’s stance, stating,
Mamerto E. Tangonan
“We abide by the determination that it’s not an OPS. So, Google Pay has launched. So, it’s up to them (Apple Pay) when they will launch”.
When asked if the central bank was in ongoing discussions with the tech giant, Tangonan added,
“After we said, ‘Ah, okay, we don’t deem it an OPS,’ that’s it”.
This regulatory clearance mirrors the path taken by Google, which entered the Philippines in November through the launch of Google Wallet.
Like its competitor, Apple Pay uses Near Field Communication (NFC) technology to allow users to make contactless purchases in stores, apps, and websites using Apple devices.
While previous reports speculated on a launch by the third quarter, Apple has not yet announced a specific timeline for the Philippines.
The service is already available in several neighbouring Asian markets, including Malaysia, Singapore, Vietnam, and South Korea.
As of 16 January, BSP data indicates there are 312 licensed OPS entities operating in the country, a list that Apple Pay will not need to join to begin operations.
