The Bangko Sentral ng Pilipinas (BSP) strengthened its push for a more inclusive digital economy with the launch of the “Paleng-QR Ph Plus” program in Iloilo Province on 22 September.
The initiative, spearheaded by the BSP and the Department of the Interior and Local Government (DILG), aims to expand the use of QR Ph-based digital payments in public markets, transport terminals, and business establishments nationwide.
BSP Monetary Board Member Benjamin Diokno and Deputy Governor Bernadette Romulo-Puyat joined Iloilo Vice Governor Nathalie Ann Debuque, representing Governor Arthur Defensor Jr., in leading the provincial launch at the Iloilo Capitol.
Deepening financial inclusion
The central bank stressed that Paleng-QR Ph Plus is part of its long-term strategy to deepen financial inclusion, protect consumers, and promote a cash-lite economy.
The program also supports the goals of the National Strategy for Financial Inclusion 2022–2028, which prioritizes digital channels as tools for economic empowerment.
Daily transactions made easier
Deputy Governor Romulo-Puyat explained how the initiative eases day-to-day transactions for both vendors and consumers.
“Now, life will be easier at the market and the terminal because of Paleng-QR Ph Plus. There’s no need to carry cash. Just scan, pay the exact amount, and go. No more hassle with change,” she said.
“It’s also safer. Payments go directly to your account. And since you already have an account, it’s easier to save, easier to borrow for your business, and provides greater protection for your family,” added Romulo-Puyat.
As of 19 September, the BSP has rolled out Paleng-QR Ph Plus in 207 local government units (LGUs) nationwide, demonstrating its growing reach.
To institutionalize Iloilo’s participation, the provincial government issued an executive order enjoining municipalities to adopt and promote QR Ph payments.
Vice Governor Debuque affirmed support from the provincial and local councils, saying ordinances will be crafted to encourage adoption and ensure consumer protection.