The City of Bacoor in Cavite has joined the Paleng-QR Ph Plus program that promotes the use of convenient digital payments in public markets, public utility vehicles (PUVs), sari-sari stores, and business establishments.
The program launch was led by Bangko Sentral ng Pilipinas (BSP) Deputy Governor Bernadette Romulo-Puyat and Bacoor Vice Mayor Rowena Bautista-Mendiola at the Bacoor Government Center.
BSP Governor Eli M. Remolona, Jr., in a recorded message, welcomed the City of Bacoor as a partner in the Paleng-QR Ph Plus program.
He said the inclusion in the formal financial system of Paleng-QR Plus participants opens new economic opportunities that can generate gains for Bacoor’s market vendors, PUV drivers, and other businesses.
City Vice Mayor Bautista-Mendiola, on behalf of Mayor Strike B. Revilla, encouraged Bacooreños to support the Paleng-QR Ph Plus program to enjoy its benefits.
“The program aims to make payment transactions easier and more convenient between vendors and customers through the use of digital devices like smartphones,” she said.
The issuance by Bacoor City of an ordinance on the use of digital payments is expected to encourage the participation of more market vendors and tricycle and jeepney drivers in the Paleng-QR Ph Plus program.
Deputy Governor Romulo-Puyat shared that 67 LGUs have so far conducted launch activities or have issued policies in support of the Paleng-QR Ph Plus.
She also said the Paleng-QR Ph Plus program offers many benefits, encompassing hygiene to convenience, security, economic resilience, and inclusivity.
“Digital payments through e-wallet accounts allow you to expand your digital footprint. This will allow access to wider range of financial services, such as lower interest rates on credit,” according to the Deputy Governor.
Paleng-QR Ph Plus is a joint initiative of the BSP and the DILG that encourages the use of Quick Response (QR) Ph, the national standard for QR code technology that provides a safe, convenient, and efficient way of making and receiving payments for merchants and customers.
The nationwide program supports the BSP’s thrust of promoting a cash-lite Philippine economy, one of the priority initiatives under the BSP’s National Strategy for Financial Inclusion 2022-2028. This is the guiding framework for all stakeholders working together to accelerate financial inclusion in the country.
At the sidelines of the program launch, the BSP South Luzon Regional Office (SLRO) also offered currency exchange services in the public market to replace the public’s unfit banknotes and coins with digital cash. Unfit banknotes are dirty, soiled, limp, or stained; or have faded print and obvious writings. Unfit coins are those with corrosion or markings.
This “BSP Piso Caravan” currency exchange program is in line with the BSP’s commitment to preserve the integrity of Philippine currency and to encourage digital payments that promote financial inclusion.
From: Malaya.com.ph
