Apple Pay PH entry seen in 2026

Mobile wallet provider Apple Pay is set to launch operations in the Philippines early next year, following the launch of its competitor Google Pay this week.

According to Fintech Alliance PH founding chairman Lito Villanueva, while there is still no definitive timeline for Apple Pay’s anticipated entry into the market, this could come early next year.

“Hopefully next year, but we don’t have any available date yet. The good thing is that the Bangko Sentral ng Pilipinas (BSP) gave the green light for both entities to operate in the Philippines,” Villanueva said.

This comes as deputy governor Mamerto Tangonan in August clarified that it deemed Google Pay and Apple Pay as technology service providers, and will have to register as operators of payment systems (OPS).

Google Pay launched in the Philippines on Tuesday, with several initial partner institutions — China Banking Corp., East West Banking Corp., GCash, GoTyme Bank Corp., Maya Bank Inc., Rizal Commercial Banking Corp., Union Bank of the Philippines, Wise Philippines, and Zed Financial PH Inc.

The central bank last December said Google Pay and Apple Pay were exploring offering their services to the Philippine market, but were initially thought to need prior registration as OPS.

Data released by the central bank show that digital retail payments accounted for 57.4% of the volume of total transactions in 2024, higher than the 52-54% target set under the Philippine Development Plan (PDP).

The total value of monthly digital payments for the year was $136.0 billion, accounting for 59.0% of the country’s overall retail transaction value.—AOL, GMA Integrated News