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The maturity moment for PH digital payments

November 09, 2025

APPLE Pay and Google Pay are on their way to the Philippines — a small line on the roadmap with big implications for how people pay. The Bangko Sentral ng Pilipinas (BSP) has cleared a key step, saying the two global wallets no longer need to register as operators of payment systems because they won’t be holding user funds, smoothing the path for rollout.

To understand what this shift means, I spoke with Eng Sheng Guan, CEO of Fiuu, a regional payments enabler working with banks and fintechs across the region. He shared how these changes reflect both momentum and unfinished work, and what the Philippines can learn from neighboring markets.

A market that’s finally ready

“The entry of Apple Pay and Google Pay is a confirmation that the Philippines’ payments stack is maturing, both in underlying infrastructure and market readiness, to accept global wallet standards,” Guan noted.

He cited BSP figures: By 2024, digital retail payments made up 57.4 percent of transaction volume and 59 percent of value. The data give banks and acquirers confidence to link with global wallets and participate in broader Association of Southeast Asian Nations (Asean) flows. Visa and other partners are already working with local banks to prepare for wallet integrations.

“The Philippines is now at that exciting turning point. For Fiuu, this is not just about opportunity but contribution — sharing regional insights and helping strengthen the local ecosystem with proven approaches from neighboring markets.”

Lessons from our neighbors

Singapore and Malaysia reached mass adoption years earlier. Guan noted their experience offers valuable lessons as the Philippines scales securely.

“Singapore and Malaysia show that scale follows when strong infrastructure, common standards, and clear regulatory coordination converge,” he elaborated.

He cited Singapore’s PayNow and Singapore Quick Response Code (SGQR) and Malaysia’s DuitNow QR, which achieved near-universal use through instant payment rails, a single QR standard, and incentives for banks and e-wallets to interoperate.

For the Philippines, he identified three priorities: a single interoperable QR or real-time rail, strong fraud detection, and low-friction onboarding. These foundations, he added, drove success elsewhere and require close collaboration among regulators, banks, and payment enablers here.

Bridging the merchant gap

Despite progress, many merchants still find global payment standards complicated. Guan explained that Fiuu provides a unified setup that handles compliance, connectivity, and routing. With that platform, merchants can accept cards, e-wallets, QR codes, and even cross-border payments. It’s a model proven in nearby markets, cutting onboarding time so businesses spend less on forms and more on serving customers.

“In effect, we make global payment acceptance accessible, reducing friction for merchants and ensuring a smooth, compliant experience for their customers,” the CEO said.

Trust without friction

Security comes first for both consumers and regulators. Add too many steps, though, and people drop off in a system built for speed and convenience. To keep protection high without slowing things down, banks and fintechs are aligning with global standards like Strong Customer Authentication (SCA) and using tighter fraud monitoring. Guan added that standardized integrations and automated compliance checks help keep transactions secure and the experience smooth for users. Working across several Southeast Asian markets has also given teams a better look at how fraud patterns change and how users behave online.

“That cross-market perspective helps us refine our fraud prevention strategies in the Philippines without compromising convenience,” he said. “We want to build and work in a payments ecosystem where trust and convenience coexist. Only then can merchants scale securely.”

Crossing borders, seamlessly

As the Philippines takes part in the Asean push for cross-border payments, the focus is now shifting toward true interoperability. Guan said their platform can process payments from regional markets without separate integrations or complicated technical work. This connectivity, he added, can help Philippine merchants and fintechs transact across borders more easily.

It handles about three million transactions a day across Southeast Asia, working with international networks and domestic schemes. That regional activity provides operational experience that may inform collaboration with Philippine counterparts. With continued coordination, the same rails could support more routine cross-border payments for local businesses.

The next phase of maturity

The expected rollout of Apple Pay and Google Pay signals more than convenience. It reflects how far the Philippines has moved toward a more connected financial system. If managed well, this moment can make payments faster and fairer for small and mid-sized enterprises. The next phase requires practical work: keeping interoperability on track, strengthening fraud controls, and maintaining simple onboarding. By holding trust, security, and shared growth in balance, the Philippines can successfully complete its digital payments maturity arc.

Repost from: Manila times