PASIG CITY, (PIA) -- Good news! The Bangko Sentral ng Pilipinas (BSP) and the City Government of Pasig recently launched the Paleng-QR Ph Plus in the city’s Mega Market.
According to BSP, over 2,000 vendors at the Pasig City Mega Market have joined the program, which provides a safe and convenient alternative to cash payments.
The Paleng-QR Ph Plus is consistent with the central bank’s goal to convert half of retail payments volume into digital form and onboard 70 percent (70%) of Filipino adults onto the formal financial system by this year.
Pasig City Mayor Vico Sotto scans a QR code during the launch of the "Paleng-QR Ph Plus" in the city’s Mega Market (photo courtesy of BSP)
BSP Governor Felipe Medalla said that they are working with banks to cut or waive digital transfer fees to boost digitalization.
“Ang dream namin sa central bank, ‘yung small transactions, walang fees,” said Medalla.
Meanwhile, Pasig City Mayor Vico Sotto echoed Governor Medalla’s statement.
“Napakaganda po ng panukala sa atin ng BSP Governor. Kaya gusto po natin na mas gamitin pa ng vendors [ang QR Ph].”
Other officials during the launch are Pasig City Councilor Simon Romulo Tantoco, Cecilia Valencia of Charing’s Halo-Halo Special, BSP Deputy Governor Bernadette Romulo-Puyat, and Pasig City Vice Mayor Robert Vincent Jude “Dodot” Jaworski Jr. (BSP/PIA-NCR)
