In a bid to introduce a streamlined digital payment system in Pasig City, the local government and the Bangko Sentral ng Pilipinas launched the Paleng-QR PH Plus program at the Pasig Mega Market on Friday, March 3.
Among the esteemed guests were BSP Governor Dr. Felipe Medalla and Deputy Governor Bernadette Romulo-Puyat; BSP Monetary Board Members Eli Remolona Jr. and Peter Favila; DILG-Pasig City Director Visitacion Martinez, Former Senator and Department of Foreign Affairs Secretary Alberto Romulo, and lone Congressman Roman Romulo.
He added that the Paleng-QR launch is the first step to many other improvements to the Mega Market that will be done throughout 2023 until 2025. Through the Paleng-QR, payments are made at the exact amount, counterfeit bills or payment incidents can be prevented, long lines for financial transactions can be reduced, and the minimum health protocols against Covid-19 can be followed.
Local government units that want to implement the Paleng-QR must create their own ordinances in support of the program. The LGUs will organize an “Account Opening Day,” where FSPs will install customer assistance booths to help vendors and drivers create and open e-money accounts. They will also give QR code printouts for target users.
He said it is “easier geographically and logistically-wise” to integrate vendors in the QR system since they are confined to the Mega Market, unlike TODAs that are dispersed in different terminals and sari-sari stores that are scattered all over the city.