In a decisive move to curb the growing risks associated with online gambling, the Bangko Sentral ng Pilipinas (BSP) has ordered all BSP-Supervised Institutions (BSIs) to remove in-app gambling links and access points from their mobile payment applications and websites within 48 hours.
The directive, issued this week, applies to a wide range of financial platforms including e-wallets, banking apps, and other digital payment services regulated by the BSP.
It specifically targets any product, service, or feature that redirects users to gambling or gaming websites, effectively suspending all forms of in-app gambling access.
The BSP’s action comes amid a sharp increase in online gambling transactions, raising alarms over its impact on consumer financial health and the broader social consequences.
According to BSP officials, the surge has led to cases of excessive spending, debt accumulation, and financial distress among users, often affecting entire households.
Online gambling, once limited to niche platforms, has become increasingly accessible through digital wallets and banking apps, blurring the lines between financial services and entertainment.
This ease of access has prompted regulators to reassess the role of financial institutions in enabling gambling behavior.
The suspension is temporary, pending the BSP’s finalization of a comprehensive policy framework on online gambling-related payment services.
The central bank emphasized that the move is part of its broader mandate to protect consumers and promote financial stability.
Financial institutions are expected to comply immediately, with the BSP warning of potential sanctions for non-compliance.
