Quezon City Introduces Paleng-QR Ph Plus to Advance Payments Transformationby Fintech News Philippines February 5, 2024
Quezon City has officially introduced the Paleng-QR Ph Plus programme, a development that marks a significant move towards enhancing the efficiency of payment systems through digital means in the city.
The programme was inaugurated in mid-January at the Project 4 Public Market, with the ceremony attended by key figures including Mayor Josefina “Joy” G. Belmonte, Department of the Interior and Local Government (DILG) Undersecretary Felicito A. Valmocina, and Bangko Sentral ng Pilipinas (BSP) Acting Director Mynard Bryan R. Mojica.
Paleng-QR Ph Plus is the result of a partnership between the BSP and DILG, designed to encourage the use of QR Ph for transactions, aiming to provide a method that is quicker, safer, and more convenient. Quezon Mayor Belmonte highlighted the city’s ongoing objective towards digitalisation, noting its significance in simplifying transactions within Quezon City.
“Previously, Quezon City’s main goal was digitalisation. We believe in facilitating the transaction process in Quezon City,”
Meanwhile, Undersecretary Valmocina acknowledged the proven effectiveness of digital payments in streamlining transactions, which could potentially improve public services provided by local governments.
In addition, BSP Acting Director Mojica conveyed hopes for the programme to expand the number of Filipinos using digital payment methods, expressing,
“We hope that through Paleng-QR Ph Plus, more Filipinos will have an account and use digital payments.”
This launch of the Paleng-QR Ph Plus initiative in the city is in accordance with a Quezon City ordinance enacted in September 2023, which requires public market vendors, tricycle operators and drivers, and business establishments to implement digital payment methods in their daily operations.
It also supports the BSP’s objectives outlined in the National Strategy for Financial Inclusion 2022-2028, focusing on the advancement of digitalisation and financial inclusion throughout the country.
Featured image credit: Edited from Unsplash