Local fintechs tally losses from gambling delink

The Bangko Sentral ng Pilipinas (BSP) order for e-wallets to sever links with online gaming applications has weighed on the earnings of both gaming companies and the e-wallet platforms themselves.

- By JAMES A. LOYOLA

Unicapital Securities Inc. Research Analyst Peter Louise D. Garnace said the unlinking of online gaming platforms likely “dragged” the third-quarter 2025 performance of market leader Mynt (owner of GCash).

Mynt registered third-quarter revenue of P20.9 billion, a two percent decline from the second quarter, and a net income of P4.3 billion, which was 27 percent lower than the previous quarter.

Despite the quarterly dip, Mynt’s earnings before interest, taxes, depreciation, and amortization (EBITDA) contributed P5.3 billion in the first nine months of 2025, surging 52 percent year-on-year. This accounted for 25 percent of Globe Telecom’s pretax net income, up from 14 percent in the same period last year.