Netflix, Spotify, and other foreign subscription services will become more expensive for Mastercard or Visa users as both providers are now charging an extra 1 percent assessment fee for transactions that a foreign acquirer processes.
Local banks are now implementing this new rule. For one, BPI said in its latest advisory that “at times, foreign merchants or services directly state their prices in Philippine Peso. However, since the transaction is processed by a foreign acquirer, the Mastercard / Visa Assessment Fee is still incurred.”

Related
- Pinoy Movie Sites: Watch Filipino-made films and TV shows online
- Best Streaming Services in the Philippines
Other than Netflix and Spotify, it will also affect other popular subscription services like Disney+, Apple, Airbnb, and Google.
For example, a Php450 monthly Netflix subscription with an additional 1 percent fee will now cost the user Php454.50 per month.
The new fee will also affect “foreign currency transactions converted then billed in Philippine Peso at point-of-sale” like Amazon and other e-commerce platforms.
This new 1 percent assessment fee for Mastercard and Visa holders took effect on February 1, 2024.