Industry players unite behind stronger safeguards and collaborative compliance to protect consumers
Manila, Philippines – The FinTech Alliance Philippines has expressed its full support for the Bangko
Sentral ng Pilipinas (BSP)’s strengthened regulatory framework on the responsible use of digital financial
services in relation to licensed online gaming platforms.
As the country’s largest organization of digital finance players composed of BSP-regulated financial
technology companies and electronic money issuers, the Alliance reaffirmed its commitment to ensuring
that the Philippine digital economy remains safe, ethical, and inclusive especially amid growing public
concern around the societal risks of online gaming.
“The Alliance recognizes the growing concern from the public and other sectors over the impact of
gaming. We are united in our commitment to be part of the solution by working closely with
regulators, elevating safeguards, and protecting the welfare of Filipino consumers,” said Lito
Villanueva, Founding Chairman of the FinTech Alliance PH.”
Industry Action on Emerging Risks
The Alliance flagged urgent risks related to financial distress, addiction, and underage or unverified
access to online gaming, as well as the proliferation of illegal and unregulated platforms. It emphasized
the need for a balanced, collaborative regulatory approach that preserves innovation while shielding
vulnerable sectors of society.
“We remain aligned with the BSP in ensuring that access to payment channels for online licensed
gaming is strictly controlled, and that all FinTech Alliance members adopt robust due diligence
measures,” Villanueva added.
Strengthened Controls and Coordinated Compliance
In line with the BSP’s directive, FinTech Alliance PH members committed to the following actions:
● Enhanced Due Diligence (EDD) for all merchant accounts classified under licensed online gaming;
● Real-time detection, monitoring, and blacklisting of illegal and unregulated platforms;
● Full compliance with BSP-imposed restrictions and enforcement actions on violative payment
channels.
The Alliance also encouraged evidence-based policymaking and data-driven interventions to ensure
effectiveness and proportionality in regulation.
Consumer Education and Ethical Engagement
To reinforce regulatory measures, the Alliance vowed to intensify public education efforts, particularly
targeting vulnerable consumers. Members will also adopt ethical marketing practices and promote
awareness of gaming-related risks across digital and community platforms.
“Financial literacy and responsible use are essential pillars of inclusive digital finance. As an industry,
we are committed to upholding these values,” Villanueva noted.
Unified Commitment to a Safe Digital Finance Ecosystem
Above all, the Alliance underscored its unity in protecting consumer welfare and ensuring that the
Philippine digital finance ecosystem remains safe, responsible, and inclusive.
About FinTech Alliance PH
FinTech Alliance Philippines is the leading digital finance industry group composed of BSP-regulated financial technology firms and electronic money issuers. Its members include RCBC, CIMB Bank, Cebuana Lhuillier Bank, Maya, GCash, Tonik, GoTyme Bank, GrabPay, Xendit, and Smart Communications, among others. Collectively, Alliance members account for over 90% of digital transaction volumes in the country and are committed to advancing responsible innovation, financial inclusion, and consumer protection.
To learn more, visit www.fintechalliance.ph.
For more information, please contact:
FinTech Alliance.Ph Secretariat
secretariat@fintechalliance.ph
09983309722
FINTECH ALLIANCE POSITION ON ONLINE GAMING
FinTech Alliance Supports BSP’s Robust Regulatory Framework on the Responsible Use of Licensed Gaming
I. Executive Summary
The Fintech Alliance affirms its strong support for the Bangko Sentral ng Pilipinas’ robust regulatory framework on the responsible use of digital payment platforms in licensed online gaming. In parallel, we fully endorse a collaborative approach and a policy direction that seeks to institutionalize comprehensive control mechanisms over online licensed gaming particularly to prevent abuse, addiction, and financial distress. As responsible stewards of the country’s digital financial ecosystem, we commit to continuously be part of the solution through stronger due diligence, education, and coordinated industry compliance.
II. Background: Social and Financial Risk Implications
The FinTech Alliance wants to ensure that the following areas of risk are addressed:
● The increasing risk of addiction and financial ruin.
● Underaged and unverified individuals gaining access.
● Risk of proliferation of illegal and unregulated gaming sites and platforms.
This calls for a balanced and collaborative regulatory approach that preserves innovation while protecting
vulnerable segments of society.
III. Alliance Position
III.1 Currently, technologies are in place in alignment to existing regulatory guidelines for online licensed
gaming. We affirm our endorsement of the following measures:
● Reasonable restriction of access; and,
● Continuous detection, monitoring, and blacklisting of illegal and unregulated gambling
sites and platforms.
III.2 Full Support for BSP’s Protective Directive
We support the BSP’s initiative on further enhancing restrictions to impose controls on payment channels
connected to online licensed gaming, especially when conducted without proper supervision or in
violation of existing gaming laws. As such, all Alliance members will:
Implement Enhanced Due Diligence (EDD) across all merchant accounts classified under online licensed
gaming.
We strongly urge that such measures must be backed by data and credible studies to ensure a balanced
regulatory approach.
IV. Mandatory Consumer Education
In support of ethical marketing standards, all FinTech Alliance PH members shall endeavor to promote extensive customer education targeting those consumers with access to the risks of gambling addiction.
In this connection, all relevant FinTech Alliance PH members shall promote consumer protection and financial education across various communications channels.
