Are Apple Pay and Google Pay coming to the Philippines?

Apple Pay and Google Pay could come to PH. The BSP said they already met with representatives.

Apple Pay and Google Pay logos

Currently exploring

The Bangko Sentral ng Pilipinas said it already met with representatives from Apple Pay and Google Pay as they look into offering their services in the Philippines, according to reports.

They’re exploring, and then we had a discussion on their activities and then it was clear to us that they are — when you touch the payment system, you are an operator of payment systems, BSP deputy governor Mamerto Tangonan was quoted in reports.

Before they offer their services in the country, BSP said that the companies need to first secure registration as operators of payment systems (OPS). The central bank defines an operator as a person or organization that provides clearing or settlement services or oversees the operational aspects of a payment system.

Entities performing OPS activities must register with the BSP.

We don't license them. We just require registration. They can provide the service (once they’re registered), Tangonan said.

So far, the official said the service providers have yet to apply for registration.

What do you think guys?

Via: GMA News Online