Global wallets mark milestone for Phl payments

The arrival of global digital wallets Apple Pay and Google Pay in the Philippines marks a key milestone in the country's journey toward a more mature and secure cashless ecosystem, according to regional payments enabler Fiuu.

- By KEISHA TA-ASAN

"This is an important step for the Philippines. It signals how these tech giants view the country as a market they're ready to support and shows that our ecosystem is ready to accept global solutions," Wudie Morales, head of Philippines at Fiuu, said in an interview.

Morales said the launch of the two major wallets reflects not just growing consumer demand, but also the country's readiness to align with international payment standards. However, he emphasized that local players still need to "ramp up in terms of security and integrations" to ensure interoperability between mobile and web transactions.

At present, no local banks have fully met the technical requirements to issue cards compatible with Apple Pay and Google Pay, although Morales said several financial institutions are "in active discussion" with the global platforms.