BSP expands cashless payments in markets, transport

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has launched the extension of cashless payments in public markets and transportation services in 16 cities and provinces across the country.

The Paleng-QR Ph Plus program was launched at the SUKI Market in Alaminos, Pangasinan early this month to promote digital payments in public markets, public utility vehicles (PUVs), and business establishments.

BSP North Luzon Regional Office regional director Noel Neil Malimban and Alaminos City Mayor Arth Bryan Celeste led the program’s launch.

Nearly 700 market vendors and over 3,600 tricycle drivers have joined the Paleng-QR Ph Plus program in the city. With the issuance of an ordinance encouraging the use of digital payments, more vendors and PUV drivers in Alaminos are expected to get onboarded in the program.

Malimban welcomed the collaborative undertaking among the BSP, DILG, and city government that allows the citizens of Alaminos to further enjoy digitalization.

A joint initiative of the BSP and the Department of the Interior and Local Government (DILG), the program 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.

On the sidelines of the Paleng-QR Ph Plus launch, the BSP Dagupan Branch also offered currency exchange services in the public market to encourage the public to replace their unfit banknotes and coins with digital cash.

The BSP Piso Caravan currency exchange program is in line with the central bank’s commitment to preserve the integrity of Philippine currency and promote digital payments to bolster financial inclusion.

Unfit banknotes are dirty, soiled, limp, stained, or have faded print and obvious writings. Unfit coins are those with corrosion or markings.

Aside from Alaminos, other LGUs that have formally launched the Paleng-QR Ph Plus include Baguio, Davao, Tagbilaran, Naga, Lapu-Lapu, Pasig, Bacolod, Camiling, Carmona, Victorias, Mandaue, Ozamiz, Cotabato, Calamba and Iloilo.