Bangko Sentral ng Pilipinas suspends inbound transfers for DCPay

The Bangko Sentral ng Pilipinas (BSP) has partially suspended DCPay Philippines Inc., the e-wallet operator behind the Coins.ph brand, blocking inbound money transfers through the InstaPay and PESONet clearinghouses.

Following BSP Monetary Board Resolution No. 839, the Philippine Payments Management Inc. issued an advisory mandating immediate implementation of the directive. This suspension prevents DCPay from receiving incoming credit transfers, including person-to-person transfers and InstaPay QR credit transfers. Consequently, users attempting to cash in or transfer funds from external banks like BDO, BPI, and UnionBank, or e-wallets such as GCash and Maya, will face rejected transactions.

Despite these restrictions, DCPay remains authorized to process outbound transfers, allowing users to send money from their Coins.ph accounts to other banks and e-wallets. Additionally, person-to-merchant payments via the QR Ph national standard remain unaffected, meaning users can still use existing balances to pay at retail checkouts. While the brand operates as a single consumer interface, the services are split between DCPay Philippines Inc., which manages peso wallet balances, and Betur Inc., which handles cryptocurrency and digital asset services.