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BSP welcomes PBBM’s support for Paleng-QR PH Plus program

QUEZON CITY, (PIA) -- The Bangko Sentral ng Pilipinas (BSP) welcomes the support of President Ferdinand R. Marcos, Jr.’s support to the Paleng-QR PH plus program.

During the recent Private Sector Advisory Council Digital Infrastructure Cluster meeting in Malacañang, Pres. Marcos, Jr. expressed his full support for the program and said he wants government agencies to educate Filipinos on the use of e-wallets and other digital payment apps to further strengthen economic activities, particularly with the inclusion of micro, small and medium enterprises (MSMEs).

Likewise, BSP Governor Felipe M. Medalla said that through the Paleng-QR Ph Plus, digital databases that track transaction habits can serve as a basis for evaluating the creditworthiness of poor households as well as micro and small business owners who haven’t built up credit histories or sufficient collateral for accessing loans and other financial services.

This helps in the financial inclusion advocacy of the BSP and the government,” he added.

Spearheaded by the BSP and the Department of the Interior and Local Government (DILG), Paleng-QR Ph Plus encourages the use of QR (quick response) technology as a convenient, safe, and efficient payment solution.

The program seeks the policy championship and enjoins local government units (LGUs) to push for the acceptance of digital payments among market vendors, community shopkeepers, and tricycle operators and drivers (TODA) in all cities and municipalities in the country.

The Paleng-QR Ph program also highlights the significance of market purchases and local transportation fares as basic components of an average Filipino’s typical payment pattern. Until a market vendor and tricycle driver can accept digital payments, transitioning to cashless transactions would be difficult for an average Filipino consumer. (BSP/PIA-NCR)

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Jimmyley Guzman

Information Officer III


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