Paldo is over? No more Filipinos, especially minors, to be exploited so easily.
Paldo is over party? That’s right! After pressure from the public amidst concerns of gambling addiction, the Bangko Sentral ng Pilipinas (BSP), the Philippines’ Central Bank, has issued a memorandum stating that all e-wallet apps and payment apps disassociate themselves from gambling companies.
The Central Bank stated that, by August 14, all e-wallets have 48 hours to complete this process, or until August 16th. It is quite surprising that it took these e-wallets a notice from the government before they actually started making action, as opposed to doing it themselves out of will, and not out of obligation.
Due to this memorandum, the stock prices of DigiPlus Interactive, a leading e-gambling company in the Philippines fell sharply to 20%, after declaring a 30% rise just a month ago.
This suspension remains in place until the BSP revises its online gambling payment policies.
Source: Bloomberg (may be paywalled), Asian Banking Finance
You must be logged in to post a comment.