BSP to impose gambling limits, biometric ID checks on e-wallets

Insider Spotlight:

• New BSP rules aim to curb gambling-related financial harm
• E-wallets, banks to implement daily caps, facial recognition
• Rules follow public consultation; launch date not disclosed

The Bangko Sentral ng Pilipinas (BSP) is set to roll out a new set of regulations aimed at limiting the financial risks tied to online gambling, with a focus on digital payments and electronic wallets.

🧩 Why it matters:

The upcoming measures—now in the finalization stage—will mandate stricter controls on gambling-related financial transactions. The rules apply to banks, e-wallet providers, and other financial service firms, the regulator said in a statement on Thursday, Aug. 7, 2025.

🛡️ Details:

The BSP outlined four core provisions:

• Biometric identity verification, including facial recognition, to confirm the eligibility of users making gambling-related payments
• Daily transfer limits for gambling transactions to minimize excessive losses
• Time-based restrictions to discourage impulsive spending behavior
• Self-regulation tools, including personal caps, break periods, and opt-out mechanisms for users

🎯 The goal:

“These safeguards aim to reduce the risks of addiction, fraud, and financial harm while promoting the responsible use of digital financial services,” the BSP said in a statement .

📈 The big picture:

The move reflects growing concern over the accessibility and potential abuse of online gambling platforms, particularly through digital financial channels. It also aligns with BSP’s broader push to strengthen consumer protection in the digital economy.

🏁 What’s next:

The BSP did not provide a timeline for implementation but confirmed the rules were formulated after public consultation. Financial service providers will be expected to integrate the new controls once the directive takes effect.