Bangko Sentral ng Pilipinas (BSP) Deputy Governor Mamerto Tangonan announced that local banks are preparing to launch Apple Pay in the Philippines, while a tap-to-pay system for Light Rail Transit Line 1 (LRT1) is awaiting a final agreement with the rail line's private operator. Earlier reports had placed Apple Pay's Philippine entry in the third quarter of 2026, though as of Apple's latest published list of supported markets on July 10, the Philippines was still not included. Tangonan told reporters during a roundtable that the BSP did not object to Apple Pay and that some banks are looking to launch, though he did not mention specific banks or give an exact date. The developments are part of the BSP's broader push for an interoperable digital payment system across transport networks and financial services.
BSP Confirms Banks Preparing Apple Pay Launch
Tangonan told reporters during a roundtable, "We didn't object to it. So, it's up to the banks." He added, "Stay tuned kasi may alam akong mga banks mag-lalaunch (because I know some banks are looking to launch). Stay tuned," without mentioning the banks or giving an exact date. Earlier reports had placed Apple Pay's Philippine entry in the third quarter of 2026, as local banks worked to satisfy the platform's technical requirements. As of Apple's latest published list of supported markets on July 10, the Philippines was still not included. Google Pay arrived earlier, launching in the Philippines on November 18, 2025, with initial partners including China Bank, EastWest, GCash, GoTyme, Maya, RCBC, UnionBank, Wise, and Zed.
LRT1 Tap-to-Pay System Awaits Final Operator Agreement
Tangonan said the parties were down to a "final agreement" with the operator for LRT1's tap-to-pay system. He said he was hopeful that the system could be rolled out within the quarter. Tangonan stated, "We just want to make sure that we provide an interoperable payment system. Kahit ano ang gawin niyo diyan, basta 'yung payment system (Whatever you do there, just make sure that the payment system is), interoperable." Interoperability means commuters should eventually be able to use an existing bank card, mobile wallet, or other accepted instrument across several transport systems, rather than buying a proprietary card for each one.
MRT3 and LRT2 Complete Contactless Payment Rollout
LRT1 would follow MRT3, which began rolling out its tap-to-pay fare system in July 2025, and LRT2, which launched contactless payments across all 13 stations on July 13, 2026. The new systems let commuters tap Visa or Mastercard bank cards, use NFC-enabled phones and wearables, or scan supported QR codes instead of buying a single-journey ticket or loading a Beep card. GCash is the principal payment partner for MRT3, while RCBC serves as the acquiring bank and fare-gate partner for LRT2.
EDSA Busway Pilots GCash QR Code System
The EDSA Busway launched a separate GCash SoundPay pilot in December 2025, initially covering 260 buses. Passengers scan a QR code displayed on a conductor's device and enter their fare. Tangonan said he hoped bus operators, including provincial services, would eventually carry terminals that could accept several payment instruments. Connectivity remains a practical problem on long-distance routes with stretches of highway that are mobile dead spots, meaning payment systems may also need ways to process or store transactions offline.
BSP Tests Tokenized Treasury Bonds Under Project Agila 2
Under Project Agila 2, the BSP plans to test the near-simultaneous settlement of tokenized Treasury bonds and allow participating financial institutions to use those securities to obtain liquidity. This is a wholesale central bank digital currency project for financial institutions, not a retail "digital peso" intended to replace cash in consumers' wallets. Tangonan said tokenization could also help financial institutions divide government securities into smaller, more affordable investment units, although banks and fintech firms would still have to develop the products offered to customers. The BSP is also working with the Bank for International Settlements and other central banks on Project Mandala, which explores encoding regulatory checks into digital certificates or tokens. It could complement Project Nexus, the initiative linking participating countries' instant-payment systems, by making cross-border compliance faster and potentially less expensive.
FAQ
When will Apple Pay launch in the Philippines?
BSP Deputy Governor Mamerto Tangonan said local banks are preparing to launch Apple Pay, though he did not mention specific banks or give an exact date. Earlier reports had placed Apple Pay's Philippine entry in the third quarter of 2026, as local banks worked to satisfy the platform's technical requirements.
What is the BSP's interoperable payment system for rail transit?
The BSP's interoperable payment system allows commuters to use an existing bank card, mobile wallet, or other accepted instrument across several transport systems. MRT3 began rolling out its tap-to-pay fare system in July 2025, LRT2 launched contactless payments across all 13 stations on July 13, 2026, and LRT1 is awaiting a final agreement with the rail line's private operator.
What is Project Agila 2?
Under Project Agila 2, the BSP plans to test the near-simultaneous settlement of tokenized Treasury bonds and allow participating financial institutions to use those securities to obtain liquidity. This is a wholesale central bank digital currency project for financial institutions, not a retail "digital peso" intended to replace cash in consumers' wallets.
