BSP, PASIG CITY LAUNCH PALENG-QR PH PLUS. Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla (center) watched as Pasig City Mayor Vico Sotto (left) scanned a quick response (QR) code to pay for halo-halo during the launch of the “Paleng-QR Ph Plus” in the city’s Mega Market on 3 March 2023.
Over 2,000 vendors at the Pasig City Mega Market have joined the program, which provides a safe and convenient alternative to cash payments. Paleng-QR Ph Plus is consistent with the BSP’s goal to convert half of retail payments volume into digital form and onboard 70 percent of Filipino adults onto the formal financial system by this year.
To boost digitalization, Governor Medalla said the BSP is working with banks to cut or waive digital transfer fees: “Ang dream namin sa central bank, ‘yung small transactions, walang fees.” Mayor Sotto echoed Governor Medalla’s statement, saying “Napakaganda po ng panukala sa atin ng BSP Governor. Kaya gusto po natin na mas gamitin pa ng vendors [ang QR Ph].” Also in the photo are (from right) Pasig City Councilor Simon Romulo Tantoco, Cecilia Valencia of Charing’s Halo-Halo Special, BSP Deputy Governor Bernadette Romulo-Puyat, and Pasig City Vice Mayor Robert Vincent Jude “Dodot” Jaworski Jr.