BSP proposes caps on online gambling payments in the Philippines
The Bangko Sentral ng Pilipinas has proposed draft rules that would cap transfers to online gambling platforms at 20% of a user’s average daily transaction-account balance. The proposal would require payment providers to obtain prior authorisation and impose a 24-hour pause after users reach a heavy-usage threshold; comments are open until 25 July.
Payment providers serving gambling users would face new authorisation, transaction-limit and cooling-off requirements if the draft takes effect.