In a concerted effort to advance digital payment adoption throughout the Philippines, the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) have introduced the Paleng-QR Ph initiative in Quezon City, the nation’s most populous urban center. This initiative, conducted in collaboration with GCash, the leading finance super app in the country, aims to streamline transactions for market vendors and tricycle drivers at Project 4 Public Market in P. Tuazon through GCash QR codes.
At the forefront of the launch were BSP Deputy Director Mynard Bryan Mojica, DILG Undersecretary for Barangay Affairs Felicito Valmocino, Quezon City Mayor Joy Belmonte-Alimurung, Quezon City Chief of Business Permits and Licensing Department Margie Santos, Councilor Vic Bernardo from the Committee on Markets, Presidents Liwayway Forte from the QC Federation of Public Market Vendors, and Attorney Cef Sison, GCash’s Chief Compliance Officer.
Mojica emphasized, “The joint Paleng-QR Ph initiative program aims to shift consumers from cash to digital transactions and educate Filipinos on the advantages of going cashless. This aligns with our national strategy for financial inclusion since 2022. We aspire that through the Paleng-QR program, more Filipinos will gain financial empowerment. Thus, with this initiative, we are closer to achieving our goal of financial inclusion, leaving no Filipino behind.”
Mayor Belmonte-Alimurung echoed the sentiment, urging more vendors, tricycle drivers, as well as micro and small entrepreneurs to partake in the program, which is now operational in eight public markets in the city. She highlighted the global shift towards cashless transactions and urged Philippine residents to embrace innovative methods like GCash, citing its convenience and efficiency.
Currently, 87% of vendors in the city accept GCash QR payments, with 65% actively engaging in transactions. Recognized for its efforts, Quezon City was awarded the Excellence in Digital Empowerment Award at the third annual GCash Digital Excellence Awards in 2023.
GCash, in collaboration with its partners, remains committed to spearheading the national rollout of Paleng-QR Ph, with launches in key cities across the country. GCash Cluster Head of Public Sector and Partnerships Cathlyn Pavia affirmed the company’s dedication to onboard more merchants, market vendors, and Tricycle Operators and Drivers Associations (TODAs), in line with their ‘Finance for All’ vision.
For further details, please visit www.gcash.com.
