New payment companies could face a one-year wait to enter the Philippines’ regulated payment-system market. The proposed pause would give the country’s central bank time to reassess how payment operators are classified and regulated.
The Bangko Sentral ng Pilipinas is proposing a 12-month suspension of new operator of payment systems (OPS) registrations. The draft pairs that pause with a National QR Code Merchant Database and tighter controls requiring financial institutions and payment providers to identify merchants and trace payment flows.
The rules would land in a fast-growing digital-payments market. According to the BSP’s 2025 e-payments…
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