How BIN sponsorship can help issuers in the Philippines and across APAC make the most of new payment opportunities

The Philippines' payment landscape is changing fast. With a population of more than 110 million and spread over 7,000 islands, it's a highly diverse and challenging market for financial institutions to serve – but also full of opportunities.

Card payments in the Philippines surpassed PHP 3.4 trillion ($60 billion) in 2024, spurred on by rising consumer awareness, improving payment infrastructure and government-driven financial inclusion initiatives – as well as pioneering digital banks such as GoTyme.

And the momentum is growing. The overall value of card payments in the country is projected to grow at a CAGR of more than 15% up to 2028, reaching PHP 6.0 trillion ($107 billion) in 2028, according to Global Data.

Looking at the wider APAC region, it's clear that the rapid transformation of the payments landscape in the Philippines is part of a wider trend. Consumers across APAC are moving away from cash to card payments and digital wallets, so for financial institutions in the region there's a pressing need to adapt to this shift.

What is BIN sponsorship?

Setting up card programmes is a costly and time-consuming business, meaning financial institutions in the region may struggle to meet the fast-changing expectations of modern customers. However, BIN sponsorship is a solution that can help them mitigate these challenges.

BIN (Bank Identification Number) sponsorship gives issuing banks the ability to launch their own payment solutions without having direct scheme membership with Visa or Mastercard. The BIN sponsor is a partner that provides all of the necessary infrastructure, relationships and authorisations for the bank to develop card programmes, issue cards and process payments.

BIN sponsors like Paymentology can help banks in APAC break into new markets and scale quickly without having to take on the burden of navigating complex regulations and establishing local infrastructure.

Advantages of BIN sponsorship:

• It’s a cost-effective strategy

Businesses can avoid the high costs associated with establishing a full banking infrastructure through working with a BIN sponsor. By tapping into the robust networks of their BIN sponsor, they can take advantage of pre-existing relationships, established infrastructure and in-depth local knowledge without having to make big, upfront investments.

• Banks can focus on innovation

Without the burden of high costs, managing regulatory compliance and wrangling to build the necessary technical infrastructure, banks in APAC can focus on what they do best – innovation and customer relationships. The BIN sponsor takes the strain, while the bank has freedom and resources to develop market-leading products and experiences.

• It gives institutions a competitive edge

The banking sector in APAC is hugely competitive, and institutions should be looking to areas that can give them an edge over their rivals. BIN sponsorship gives banks the opportunity to quickly and efficiently launch new card programs, reducing their time to market and allowing them to move into new territories with the minimum of stress. While others struggle to build appropriate infrastructure, adapt to regulatory requirements and nurture relationships with the card schemes, banks that work with a BIN sponsor can leap ahead of them.

How Paymentology can help

Paymentology’s BIN sponsorship model enables issuers to launch card programmes faster and more efficiently, without having to deal with complex regulatory requirements and high setup costs. If you want to find out more about Paymentology’s BIN sponsorship services, get in touch today.