BSP, DA-CAR sign MOA on Paleng-QR Ph Plus

Bangko Sentral ng Pilipinas (BSP) Deputy Governor Bernadette Romulo-Puyat (top row, right) witnesses the signing of the Memorandum of Agreement between the BSP and the Department of Agriculture-Regional Field Office-Cordillera Administrative Region (DA-RFO-CAR) on the implementation of the Paleng-QR Ph Plus program. Joining the Deputy Governor are (top row, clockwise) DA-RFO-CAR Planning, Monitoring and Evaluation Division Chief Susan D. Balanza, BSP North Luzon Regional Director Atty. Noel Neil Q. Malimban, and DA-RFO-CAR Regional Executive Director Cameron P. Odsey.

Farmers and other agricultural producers in the Cordillera region are joining the Paleng-QR Ph Plus program of the Bangko Sentral ng Pilipinas (BSP).

The BSP and the Department of Agriculture-Regional Field Office-Cordillera Administrative Region (DA-RFO-CAR) signed a Memorandum of Agreement (MoA) on 18 April 2023 in Baguio City to onboard farmers and other agricultural players to the Paleng-QR Ph Plus program, a digital payment system that utilizes QR or quick response technology. The MoA likewise outlines financial education programs to be conducted by the BSP with a focus on the effective use of digital payments in business, financial services for micro and small enterprises, and consumer protection.

Signatories to the MoA were BSP North Luzon Regional Director Noel Neil Q. Malimban and DA-RFO-CAR Regional Executive Director Cameron P. Odsey. BSP Deputy Governor Bernadette Romulo-Puyat and DA-RFO-CAR Planning, Monitoring and Evaluation Division Chief Susan D. Balanza witnessed the event.

The MoA expands the scope of Paleng-QR Ph participants from Baguio City’s public market vendors, public transport drivers, and other merchants who joined the program in August last year, to now include the region’s agricultural supply chain players.

Deputy Governor Romulo-Puyat said she looks forward to the more widespread adoption of QR Ph among farmers who play major roles in the agricultural and public markets supply chains. Together with market vendors, farmers are seen to benefit from the convenience and safety of using QR technology.

In line with its mission of empowering the farming communities in the region, Executive Director Odsey recognized that this collaboration with the BSP will provide an opportunity for farmers to access digital services and make them more adept and responsive to modern technology.

Also present at the MoA signing ceremony were BSP North Luzon Area Director Madelyn Lerma P. Viernes, Regional Agricultural and Fishery Council Chairperson Ryan Paluyan, provincial agriculturists, agricultural provincial coordinators, farmer group cooperatives and association representatives, as well as members of the local media.