Coins.ph Rolls Out QR Payments Feature for Its 18 Million Usersby Fintech News Philippines December 13, 2022
Coins.ph, a Philippines’ digital wallet provider and crypto exchange platform, has launched a new QR payment feature that will allow its users to make convenient cashless payments to merchants and businesses throughout the country.
Users can simply click “Pay with QR” within the Coins app, scan the QR code displayed by a participating merchant, and enter the payment amount to complete their transaction instantly.
Pay with QR is compatible with QR Ph, the QR payment standard for the Philippines developed by the Bangko Sentral ng Pilipinas (BSP).
The QR Ph system will allow merchants and small business owners to display a single QR code that is compatible with multiple digital wallets, including Coins.ph.
Coins.ph said that it has expressed its interest in working with the BSP and local governments to accelerate their adoption in places like public markets, sari-sari stores, motorized tricycles, and other small businesses.
Launched in 2014, Coins.ph has more than 18 million users and holds both Virtual Currency and Electronic Money Issuer licenses from BSP.
“We are very excited to launch our new Pay with QR feature on the Coins Wallet, a service which will make everyday transactions easier not only for our users, but also for millions of small business owners across the country.
We are proud to throw our support behind QR Ph, a great initiative from the Philippines’ Central Bank that we believe will accelerate digital adoption by providing a unified national standard for QR code payments.”
said Wei Zhou, Chief Executive Officer at Coins.ph.