November 23, 2022
The City Government of Davao, in partnership with Banko Sentral ng Pilipinas and the Department of the Interior and Local Government, on Wednesday launched the cashless payment program âPalengQR PHâ at the Bankerohan Public Market.
Through the PalengQR Ph, establishments are urged to use cashless payment or QR codes as an additional option for buyers to pay for goods. The BSP will issue distinct QR codes for each merchant and vendor.
Wednesdayâs launching included an âonboardingâ or registration of merchants and stakeholders to eligible banks, and electronic money issuers.
Financial service providers such as the Landbank, Asia United Bank, Rizal Commercial Banking Corporation (RCBC), and electronic money issuers Gcash, PayMaya and StarPay set up booths and accommodated merchants who are yet to open bank accounts.
QR codes that were printed and laminated by the BSP were also distributed to Bankerohan vendors during the event.
BSP Chairman of the Monetary Board and Governor Dr. Felipe M. Medalla said the program will eliminate the need for loose change as minimal person-to-person contact and handling of bills will also reduce health risks, particularly that of COVID transmission.
The PalengQR PH “will further strengthen the digital payment ecosystem of the city,â Vice Mayor J. Melchor Quitain said.
Mayor Sebastian Duterte asked vendors and consumers to give cashless modes of payment a chance as this innovation will make their daily transactions easier and faster. He said the program is a more inclusive method as most of the general public already have smartphones.
The program will be launched in other public markets in Davao City in the immediate future, said Davao City Economic Enterprise Officer-in-Charge Maximo Macalipes.
The launching event was also attended by BSP Regional Operations and Advocacy Sector Deputy Governor Bernadette Romulo-Puyat, DILG XI Assistant Regional Director Abdullah Matalam, city councilors and city officials. CIO
