Philippine telecom companies are turning more to their e-wallet services to make money because mobile service growth is slowing, says analyst Paolo Manansala.
According to a report from Philstar, Globe Telecom Inc. and PLDT Inc. are seeing little growth in their mobile businesses because the market is full. As a result, more of their profit is coming from their fintech services.
Globe earns a lot from its GCash business, Mynt. From January to September 2025, Mynt’s earnings went up more than 50% to PHP 5.3 billion, about a quarter of Globe’s profit.
PLDT is also making money from its fintech, Maya. Maya earned PHP 1.6 billion in the same period, giving PLDT PHP 603 million.
But the new rules on online gambling influenced their fintech earnings.
GCash and Maya were affected by the Bangko Sentral ng Pilipinas’ August 2025 order to remove in-app links to online gambling. This caused the telcos to lose advertising and other income from gambling-related services.
Despite this, Manansala said online gambling could remain a revenue source for e-wallets outside direct app links.
As of September 2025, Globe’s mobile revenues declined by 2 percent to PHP 86.2 billion, while PLDT’s wireless revenues fell to PHP 63.2 billion.
ManilaShaker is a tech media producing insightful and helpful content for our local and growing international audience. Our goal is to create a premier Philippine digital consumer electronics resource that provides the most objective reviews and comparisons globally.
