Fintech giants urged to cut ties with online gambling

Senator Erwin Tulfo has issued a strong call to financial technology companies: “Take a stand and cut off access to online gambling from your platforms—no need to wait for a new law”.

Framing the issue as a “national crisis,” Tulfo, who chairs the Senate Committee on Games and Amusement, urged major digital wallet providers like GCash and PayMaya to demonstrate corporate and social responsibility ahead of a scheduled Senate hearing on proposals to ban online gambling in the country.

“Companies shouldn’t wait for legislation,” Tulfo said in a recent interview with ANC. “You have a social responsibility, and we’re already facing a crisis. The online gambling problem is a crisis.”

He challenged the country’s leading fintech firms to act swiftly and responsibly.

“If your business is already hurting people, maybe it’s time to reinvent. We want to see real corporate responsibility. Show us. You’re big companies, aren’t you?”

Tulfo also raised alarm over the explosion of online gambling ads on social media platforms and apps, questioning the ethics of such promotions.

“Common sense and morality—where do you stand? So many lives are being ruined. These are big companies, even publicly listed. You used to grow without online gambling,” he stressed.

The freshman senator said his panel will summon fintech players, relevant government agencies, and other stakeholders in the upcoming hearings.

He also warned of the growing risk that government financial aid, including cash from the 4Ps (Pantawid Pamilyang Pilipino Program), may be ending up in online betting apps.

“Before, we only heard stories of people gambling away their 4Ps on tong-its. Now, it’s scary to think that government subsidies are being funneled straight into online gambling,” he said.

Tulfo remains firm in his call to outlaw all forms of online gambling, arguing that the social damage far outweighs any revenues earned.