COTABATO CITY (PIA) — Payments have never been made easier in this city with the recent launch of Palengke-QR (Quick Response) Ph Plus, resulting in 82% of business owners in the city public market now offering digital payment options, according to the Bangko Sentral ng Pilipinas (BSP) Mindanao Regional Office.
The BSP Mindanao Regional Office and the Department of the Interior and Local Government (DILG), in collaboration with the city government, launched the Palengke-QR Ph Plus in Cotabato City, the first local government in the Bangsamoro region and the third in Mindanao to adopt the program.
Zarinah Aligsao, head of the Regional Economic Affairs Staff of the BSP Mindanao Regional Office, emphasizes the importance of the Paleng-QR Ph Plus program, saying that customers can pay for goods and services by using their smartphones to scan merchants’ OR codes. (Photo: PIA Cotabato City)
Zarinah Aligsao, head of the Regional Economic Affairs Staff of the BSP, said that electronic wallet (e-wallet) service providers like GCash have reported a continued increase in the number of businesses offering digital payment using a QR code.
“If you are going to go around the market, marami nang merong scan to pay na naka display yung QR codes [there are already plenty of scans to pay that display their QR codes]. With the scan to pay gamit ang inyong respective e-wallet, mas maiiwasan yung error [With this, errors can be avoided],” she said.
Palengke-QR Ph Plus aims to strengthen the financial resilience of Filipinos and help them maximize economic opportunities through inclusion in the formal financial system.
Now expanded into Paleng-QR Ph Plus to include more participants, the BSP expects the program to boost digital payments in the country with the help of DILG and the local government units.
“Kaya siya naging plus kasi nag spill over na siya to other covered merchants and all other sectors sa economy natin [why it is a plus because it has now covered all sectors in the economy]. So, this is really in line with the digital Pilipinas initiative or agenda of the BBM administration,” Aligsao explained.
Aligsao further said that businesses offering QR codes are registered with their choice of financial service provider, have QR codes displayed on their stores, and accept QR codes as an option for payments.
BSP Mindanao Regional Director Judith Dolot also shared that BSP has recorded a total of 479 unbanked cities nationwide. Of these, 217 cities were from Mindanao and 110 municipalities from the Bangsamoro region.
Dolot said that the Bangsamoro region remains to have the lowest financial inclusion rate in the country.
“Kaya napakaganda po ng PalengQR Ph Plus na maitaguyod natin dito sa Cotabato City. Ang mga lugar na walang bangko ay mabibigyan pa rin ng pagkakataon na maka access sa mga financial services through these financial services partners [So, it is really nice if we can promote PalengQR Ph Plus here in Cotabato City since it can help areas with no banking facilities still get access to their financial services through their partners],” she pointed out.
Nelsie Pendatun, a vendor from Cotabato City public market, underscores the benefits of the Paleng-QR Ph Plus program to vendors and consumers and how this scheme has helped her in her payment transactions. (Photo courtesy of Cotabato City Government)
Nelsie Pendatun, a vendor from Cotabato City public market, said that the program can make everyday transactions more convenient, secure, and efficient for both merchants and consumers.
“Maganda siya para sa lahat, lalo na ‘yung walang cash na dala. Puwede nilang magamit ‘yung iba’t ibang programa katulad ng GCash, Land Bank, Maya, at iba pa [It is a very good payment modality for everyone to use, especially those who don’t usually bring any cash with them. All they have to do is use these different payment schemes, such as GCash, Land Bank, Maya, and others,” Pendatun said.
Prior to the launch of Paleng-QR Ph Plus, the city government and its partners had trained public market vendors in the city in a series of financial literacy training to help them understand how to use digital payments in businesses.
Meanwhile, Cotabato City Mayor Mohammad “Bruce” Matabalao described the program as having great timing because the city government of Cotabato is eyeing its full digitalization. (LTB – PIA Cotabato City)
