BSP, DICT partner to expand digital finance

On 18 November 2025, the Bangko Sentral ng Pilipinas (BSP) signed a memorandum of agreement (MOA) with the Department of Information and Communications Technology (DICT), formalizing their partnership in support of the BSP’s ongoing digitalization initiatives.

Under the MOA, the DICT will provide digital infrastructure support for the BSP’s Paleng-QR PH Plus program as well as the BSP E-Learning Academy (BELA).

Originally launched in 2022, Paleng-QR PH Plus is a joint initiative of the BSP and the Department of the Interior and Local Government (DILG) that promotes digital payments using the QR Ph national standard, particularly among market vendors, tricycle operators, and other small local businesses. The program encourages cashless transactions for safer and more convenient payments and supports financial inclusion by making digital financial services more accessible.

The Metro Manila Council endorsed the Paleng-QR PH Plus initiative during its 4 November meeting. As of 31 October 2025, more than 750 LGUs nationwide have adopted the program, according to the BSP.

BELA, meanwhile, is a free online platform offering financial literacy courses for the public, with modules on personal finance, budgeting, and investing. It provides tailored learning for students, teachers, Overseas Filipino Workers (OFWs), and small business owners, with the goal of strengthening financial responsibility and empowering individuals to make informed financial decisions.

The MOA was signed during the BSP’s “Financial Education (Fin-Ed) Stakeholders’ Congress,” held from 17 to 18 November 2025 at the BSP Head Office in Manila. Highlighting the importance of financial learning, BSP Deputy Governor Bernadette Romulo-Puyat said the expanding Fin-Ed initiatives have contributed to a decline in household loan defaults and continue to support overall economic growth.