The digital banking landscape in the Philippines is undergoing a significant transition as the Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments ManagementThe digital banking landscape in the Philippines is undergoing a significant transition as the Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management

Digital Banks & E-Wallets To Shift to InstaPay as BSP Enforces New Rules

2026/02/16 11:42
2 min read

The digital banking landscape in the Philippines is undergoing a significant transition as the Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management, Inc. (PPMI) enforce new rules.

These regulations mandate that digital banks and e-wallets utilise standardised payment rails, such as InstaPay and PESONet, rather than proprietary “shortcut” integrations.

A primary result of these changes is the deactivation of linked bank account features.

For instance, GoTyme Bank permanently disabled deposits via linked accounts on 1 February 2026, ending a feature that allowed direct, in-app cash-ins from local banks like BPI.

Similarly, BPI announced that linked accounts in partner e-wallet apps, including GrabPay and Maya, would be deactivated by late January 2026. Customers must now manually send funds using regulated interoperable rails from their bank’s mobile app.

The updated policy prioritises a stronger digital payment infrastructure for the Philippines over maintaining certain temporary convenience features.

The updated guidelines provide the central bank with greater oversight of fund clearing and settlement processes.

For end-users, this transition promises “clearer protections, faster refunds, and a more level playing field” for competing financial institutions.

Notably, the BSP now requires banks to refund failed InstaPay and PESONet transfers within hours instead of days, encouraging institutions to modernise their back-end systems.

The central bank is also prioritising transparency by regularly publishing fee matrices.

Consumers can use these public matrices to compare costs between institutions and identify those providing zero-peso or discounted transfers.

Overall, these measures aim to create an open and interoperable ecosystem governed by common standards.

Featured image: Edited by Fintech News Philippines based on an image by muhagraph via Freepik.

The post Digital Banks & E-Wallets To Shift to InstaPay as BSP Enforces New Rules appeared first on Fintech News Philippines.

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