Bangko Sentral ng Pilipinas (BSP)‘s Paleng-QR Ph Plus initiative has now reached Dauin, a picturesque town in Negros Oriental, after the 4th class municipality joined a growing list of Philippine cities and municipalities now adopting digital payment solutions.
The program was officially launched in Dauin last September 24, 2024, with a lively event at the town’s Mega Market, marking a significant step toward modernizing local transactions and boosting financial inclusion.
BSP Regional Director Anna Clara Oville (first photo, rightmost) joins Dauin Mayor Galicano Truita (first photo, center) as he successfully pays using QR Ph at the town’s Mega Market.
Leading the launch were Dauin Mayor Galicano Truita and Bangko Sentral ng Pilipinas (BSP) Regional Director Anna Clara Oville. Their presence underscored the commitment of both local authorities and the central bank to promote cashless transactions, particularly in public markets and transport hubs — two sectors that play a vital role in the daily lives of many Filipinos.
BSP’s Paleng-QR Ph Plus to encourage digital payments
Paleng-QR Ph Plus is part of a broader national effort to encourage digital payments in various business establishments, public markets, and transportation systems.
A woman making digital payments at a wet market using a QR code
By using the QR Ph system, the national standard for quick response codes, the program aims to streamline transactions, reduce reliance on physical cash, and make payments more efficient and secure. The BSP is revolutionizing the way Filipinos transact by turning public markets, once cash-dependent, into thriving hubs of digital payment innovation through the Paleng-QR Ph Plus initiative.
The adoption of Paleng-QR Ph Plus in Dauin is expected to benefit both vendors and consumers, providing them with a convenient and cost-effective way to manage their transactions. Marketgoers, small business owners, and even tricycle drivers will soon be able to accept and make payments through the use of QR codes, reducing the need to handle physical money.
This shift not only helps promote hygiene and reduce the risks associated with cash handling but also brings more people into the digital financial ecosystem.
During the launch event, the BSP partnered with the Perpetual Help Community Cooperative, which served as the Currency Exchange Partner, to conduct the Piso Caravan.
This initiative, which has become a staple of Paleng-QR Ph Plus launches across the country, allowed participants to exchange dirty or mutilated banknotes and coins for fit currency or e-wallet credits. This added a practical and immediate incentive for marketgoers to engage with the program, as they could replace old money with fresh bills or instantly transfer their currency into a digital wallet, ready for cashless transactions.
A step forward in making Dauin a more digitally inclusive town
Mayor Truita expressed optimism about the potential benefits of Paleng-QR Ph Plus for Dauin’s local economy. “We are excited to bring Paleng-QR Ph Plus to our community. This program is a step forward in making Dauin a more digitally inclusive town. With the support of BSP and our local financial institutions, we are confident that our market vendors, tricycle drivers, and small business owners will benefit greatly from this transition to cashless payments.”
A woman paying for her tricycle fare using an e-wallet app
As of September 2024, over 130 local government units (LGUs) across the Philippines have adopted Paleng-QR Ph Plus, showcasing the widespread support for the BSP-led initiative. The increasing number of LGUs on board reflects the country’s growing recognition of the importance of digital payments in enhancing convenience, security, and financial accessibility.
Director Oville emphasized the BSP’s commitment to pushing for broader adoption of digital payments nationwide. “Paleng-QR Ph Plus is not just about making payments more convenient; it’s about empowering individuals and businesses to take part in the digital economy. With more LGUs like Dauin joining this program, we are moving closer to our vision of a cash-lite society.”
The launch of Paleng-QR Ph Plus in Dauin signals a new era for the town, where digital financial services will play a pivotal role in enhancing economic activities. As the program continues to expand, Dauin’s adoption is a testament to the growing momentum of digital transformation in the Philippines.
Another crucial component of the launch was the assistance provided by financial service providers, who were on-site to help attendees open transaction accounts that could be used for QR payments. This move further supports the BSP’s goal of increasing the number of Filipinos with access to formal financial services, as these accounts enable even small market vendors and everyday consumers to participate in the digital economy.
