68 LGUs now onboard Paleng-QR Ph

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has onboarded 68 local government units onto its Paleng-QR Ph Plus program since its launch in 2022, promoting the use of digital payments in public markets, public utility vehicles and business establishments.

“To date, 68 LGUs have been onboarded onto the nationwide Paleng-QR Ph Plus program,” the BSP said. This includes the province of Ilocos Sur and the city of Vigan, which recently held two separate launch ceremonies on April 23.

Along with BSP Deputy Governor Bernadette Romulo-Puyat, Ilocos Sur Gov. Jeremias “Jerry” Singson led the provincial launch at the Provincial Farmers Livelihood Development Center, while Vigan City Mayor Jose Singson Jr. was at Calle Crisologo, both in Vigan City.

“The launch of Paleng-QR Ph Plus in Ilocos is a step toward bringing digitalization across the country to build a financially inclusive and resilient society,” BSP Governor Eli Remolona Jr. said in a recorded message.

“By using the QR Ph codes in daily payment transactions, business owners and their customers can expand their digital financial footprint. This will give them access to a wider range of financial services, such as credit, savings, insurance, and investment,” he added.

As of Feb. 29, there are 68 LGUs in the Philippines that launched the program and/or signed a policy issuance. Around three are located in the National Capital Region, 50 in Luzon, nine in Visayas and six in Mindanao.

“The LGUs are expected to issue policies and ordinances to incentivize or mandate the use of QR Ph digital payment by market vendors, tricycles, and other such merchants,” the BSP said.

“Moreover, LGUs shall also assist the onboarding of these target users to a transaction account, such as by organizing an ‘account opening day,’ in coordination with financial service providers who have QR Ph capabilities,” it added.

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.

The Paleng-QR Ph Plus program supports the BSP’s efforts of boosting digital payments for all community markets and local transportation. This is one of the priority initiatives under the National Strategy for Financial Inclusion (NSFI) 2022-2028.

The NSFI is the guiding framework for stakeholders working together to accelerate financial inclusion in the country.

For his part, Jerry Singson said that Paleng-QR Ph symbolizes Ilocos Sur’s “dedication to creating a more inclusive and efficient financial ecosystem for all our residents.”

Meanwhile, Mayor Jose Singson said the city would boost its efforts in becoming part of the cashless society. “We will embark on a program of capacitating everyone in Vigan to have access to digital payments through smartphones,” he said.

The BSP also conducted its Piso Caravan in Ilocos to enable consumers to replace their unfit banknotes and coins with fit currency or electronic money.

The Piso Caravan is part of the BSP’s broader efforts to maintain the integrity of Philippine currency.