Last April 24, the City of Laoag initiated the Paleng-QR Ph Plus program to encourage digital transactions in public markets, transportation, and businesses in the city.
Photo shows BSP Deputy Governor Bernadette Romulo-Puyat (center) together with (l-r:) BSP Managing Director Charina B. De Vera-Yap, Ilocos Norte Governor Matthew Marcos J. Manotoc, Laoag City Vice Mayor Rey Carlos V. Fariñas, and BSP North Luzon Regional Director Noel Q. Malimban during the Paleng-QR Ph Plus launch in Laoag City last April 24.
Leading the ceremony at the Laoag City Public Market were Governor Matthew J. Marcos Manotoc of Ilocos Norte, Mayor Michael Marcos Keon of Laoag City, and Deputy Governor Bernadette Romulo-Puyat of the Bangko Sentral ng Pilipinas (BSP).
In a recorded message, BSP Governor Eli M. Remolona Jr. emphasized the benefits of using QR Ph codes for daily transactions, expanding access to financial services like credit, savings, insurance, and investment.
For her part, Deputy Governor Romulo-Puyat hailed QR Ph technology as a game changer, enhancing convenience for all.
Cashless transactions using QR PH
The Paleng-QR Ph Plus program, a collaboration between the BSP and the Department of the Interior and Local Government (DILG), prioritizes cashless transactions using QR PH, the national QR code standard, to promote financial inclusion.
During the launch, Governor Manotoc stressed the importance of intersectoral cooperation, ensuring secure and accessible payment options for the people. Mayor Keon, on the other hand, highlighted the program’s commitment to progress, inclusivity, and economic empowerment while fostering a dynamic marketplace.
Encouraging digital payments
In 2023, the City Government of Laoag passed an ordinance encouraging digital payments — a law that’s very much aligned with the BSP’s Paleng-QR Ph Plus initiative.
The launch event saw the presence of other local leaders and municipalities, emphasizing the collective effort towards digitalization and financial accessibility.
Furthermore, the BSP conducted the “Piso Caravan” in partnership with local banks and e-money issuers, enabling Ilocanos to exchange unfit banknotes and coins for fit currency or electronic money, contributing to the integrity of the Philippine currency.
For more information on the Piso Caravan and other public campaigns in North Luzon, contact reas-nlro@bsp.gov.ph.
To learn more about the Paleng-QR Ph Plus program, visit https://bit.ly/PalengQRph.