Continuing the shared mission to boost digital payment adoption across the Philippines, the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) have rolled out the Paleng-QR Ph plus initiative in the country’s most populous urban center Quezon City, in cooperation with GCash, the country’s number one finance super app.
Under the joint initiative, market vendors and tricycle drivers in Project 4 Public Market in P. Tuazon can easily transact with their customers through GCash QR codes.
Leading the launch were BSP deputy director Mynard Bryan Mojica, DILG undersecretary for barangay affairs Felicito Valmocino, Quezon City mayor Joy Belmonte-Alimurung, Quezon City chief of Business Permits and Licensing Department Margie Santos, Committee on Markets councilor Vic Bernardo, QC Federation of Public Market Vendors presidents Liwayway Forte, and GCash chief compliance officer atty. Cef Sison.
“The joint Paleng-QR Ph initiative program aims to transition consumers from cash to digital and educate Filipinos on the benefits of cashless transactions. This is part of our national strategy for financial inclusion since 2022. We hope that through the Paleng-QR program, more and more Filipinos will become financially empowered. As such, with this initiative, we are closer to our goal of financial inclusion where no Filipino is left behind,” Mojica said.
During the launch, mayor Belmonte-Alimurung also called for more vendors, tricycle drivers, as well as micro and small entrepreneurs to participate in the program, which is now being implemented in eight public markets in the city.
She said, “the whole world is quickly transitioning to cashless transactions so it’s about time the Philippines took advantage of this innovation. I encourage more of our residents to embrace cashless transaction methods like GCash. It is very convenient, and every transaction can be done in just a few taps on your phone. The program will also help the LGU to provide easier, quicker, and more secure disbursement of aid to citizens and more convenient tax payments for our constituents via the GCash app. We are honored to have GCash, BSP, and DILG as our partners and we are excited to bring more game-changing initiatives to achieve financial inclusion.”
Currently, 87% of vendors in the city already accept the GCash QR payment method, with 65% of them actively transacting. With its continuous efforts to fast-track digital transformations among its constituents and its public markets, Quezon City was also one of the top-performing LGUs that were awarded the Excellence in Digital Empowerment Award at the third annual GCash Digital Excellence Awards in 2023.
For its part, GCash continues to collaborate with its partners to lead the initial national rollout of Paleng-QR Ph. It’s also been present at the launches in key cities across the country including Baguio, Bangkerohan Public Market in Davao City, Pasig City Mega Market, Antipolo Market Tricycle Operators and Drivers Association (AMTODA), Lapu-Lapu Public Market in Cebu, Mandaue Public Market, Tagbilaran, Bohol, Tarlac, Naga, Bacolod, and Cotabato.
“We have a lot more plans at GCash and that includes onboarding more merchants, market vendors, and TODAs in line with our ‘Finance for All’ vision. We are the most favored financial payment system and we assure Filipinos that GCash is safe, secure, and convenient to use. We listen to our customers, and we try our very best to give the best platform not only in the Philippines but worldwide,” said GCash Cluster Head of Public Sector and Partnerships Cathlyn Pavia.
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