BSP orders e-wallets to remove gambling links

The Bangko Sentral ng Pilipinas (BSP) has ordered e-wallet platforms to remove links to online gambling sites, which could impact their earnings and delay the initial public offering of GCash.

Maya and GCash have complied with the BSP directive by suspending gaming access within their apps.

Analysts predict that this move will affect gaming-related transactions but may not severely hinder overall payment capabilities since users can still transact directly through gambling providers' websites.

Despite the temporary nature of the order, it could delay GCash's planned IPO and potentially impact earnings for both Maya and GCash due to reduced convenience in accessing gambling sites.

Globe Telecom reported a 14.5% decline in net income for the first half of the year, while PLDT expects Maya to become profitable by yearend with projected earnings of about P2 billion.