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FinTech Alliance PH Urges Tighter Controls on Online Gambling to Safeguard Consumers
The FinTech Alliance PH, a consortium of leading digital financial services providers in the Philippines, is stepping up efforts to support stricter oversight of online gambling activities. The group has committed to cooperating with regulators to enforce stronger due diligence protocols and limit access to unregulated platforms, citing growing public concerns over the harmful effects of digital gambling.
Speaking on behalf of the organization, founding chairman Lito Villanueva emphasized the Alliance’s role in reinforcing consumer protection amid the rapid proliferation of online betting services.
The initiative aligns with ongoing calls from lawmakers to increase accountability among both gambling operators and digital payment platforms. Senator Risa Hontiveros has been vocal in urging mobile wallets and super apps to recognize their part in enabling access to gambling services. She has called for proactive steps toward self-regulation, especially as mobile accessibility accelerates e-gambling activity.
Concrete Measures to Reinforce Compliance and Monitoring
In response, the FinTech Alliance laid out several immediate actions designed to reduce the impact of online gambling on Filipino consumers. Among the most notable is the introduction of Enhanced Due Diligence (EDD) for merchant accounts affiliated with licensed online gaming providers. This approach entails deeper scrutiny of onboarding processes and transactional behavior, especially for platforms offering real-money gaming.
Additionally, the Alliance is investing in systems that continuously monitor and flag suspicious or unauthorized websites. This blacklist initiative will be updated regularly and shared with member institutions, helping to limit exposure to illegal gambling environments.
The organization also reiterated its adherence to existing guidance issued by the Bangko Sentral ng Pilipinas (BSP). This includes regulatory provisions that restrict the use of payment systems for unlawful transactions and require institutions to maintain robust anti-money laundering (AML) frameworks. Members of the Alliance, which include major fintech brands such as GCash, Maya, and GoTyme Bank, are expected to implement these controls across their operations.
To supplement regulatory efforts, the group has advised the BSP and other policymakers to consider placing reasonable constraints on the accessibility of gambling services—especially those integrated within payment or digital wallet ecosystems.
Escalating Risks and the Push for Evidence-Based Regulation
The increasing presence of e-gambling in daily digital transactions has raised alarms among stakeholders. Issues such as addiction, rising personal debt, youth participation, and the spread of unauthorized platforms have prompted calls for a more comprehensive regulatory strategy. According to the Alliance, these challenges cannot be addressed through enforcement alone—they require targeted, data-driven interventions.
Villanueva reiterated the importance of using evidence-based approaches in crafting public policy, stressing that sound regulation must be anchored in actual behavioral and financial data. This, he noted, is essential not only for enforcement but also for anticipating emerging risks as the sector evolves.
Public education is another pillar of the Alliance’s broader strategy. In addition to monitoring and compliance, members have pledged to expand financial literacy programs that promote responsible usage of digital finance tools. Topics will include ethical use of financial apps, understanding personal finance risks, and recognizing the social implications of e-gambling.
Industry and Legislative Support for Reform
The Alliance’s stance has gained support from lawmakers who have similarly pushed for reform in the sector. Senator Win Gatchalian expressed his approval of the group’s direction, underscoring the urgency of preventing the negative consequences of unchecked digital gambling. Gatchalian previously filed a bill proposing more stringent regulation of e-gambling in the Philippines, particularly to shield vulnerable users from its financial and psychological impacts.
The issue of regulation has grown more complex as digital finance becomes increasingly embedded in everyday life. Unlike traditional betting venues, online platforms are seamlessly integrated into widely used apps and financial services, making it more difficult to implement barriers without coordinated industry effort.
The FinTech Alliance’s call for stronger regulatory alignment reflects a shift in how stakeholders view their role in managing these risks. Rather than distancing themselves from the sector, financial technology providers are acknowledging their responsibility in ensuring that their systems are not used to facilitate harmful behaviors.
Beyond Enforcement: Building a Safer Digital Finance Ecosystem
As the country continues its digital finance transformation, the challenge is not only about regulating access to online gambling, but also about creating a balanced ecosystem where innovation does not come at the cost of consumer well-being. The Alliance’s latest initiative signals a willingness to engage more actively in shaping that ecosystem—through compliance, education, and strategic partnerships.
The support of prominent industry players gives the effort added weight. Member institutions of the FinTech Alliance PH span banks, digital wallets, payments companies, and fintech startups, including names such as RCBC, CIMB Bank, Tonik, Xendit, and Smart Communications. Together, they represent a significant share of the country’s financial technology landscape.
As digital platforms continue to expand in reach and functionality, the question of how best to regulate their use—particularly in high-risk areas like e-gambling—will remain central to public discourse. The Alliance’s recent actions suggest that the fintech sector is not only aware of this responsibility, but also prepared to lead by example.
