BSP, DILG, GCash Boost Digital Payments for Market Vendors

The Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) have achieved significant milestones in their Paleng-QR Ph Plus Program, with more public markets, transport hubs, and small businesses in Antipolo, Bacoor, and General Santos City adopting cashless payments.

The initiative is in collaboration with GCash, the country’s leading finance super app.

The Paleng-QR Ph Plus initiative aims to advance the digitalization of transactions across public markets, public utility vehicles (PUVs), and business establishments, providing a secure and efficient payment method.

“By continuing our strategic partnership with the public sector, GCash cements its position as one of the key drivers of nation-building, leading to the empowerment of communities nationwide, especially the unbanked, in line with its ‘Finance for All’ pursuit,” said Ren-Ren Reyes, president and CEO of GCash mobile wallet operator G-Xchange, Inc.

GCash will assist local governments in enhancing opportunities for micro, small, and medium enterprises (MSMEs) and their customers by offering convenient, safe, and fast services. The move broadens the financial footprint and enables the enjoyment of cashless benefits for citizens.

Antipolo City, a pioneer in adopting cashless transactions since 2021, has seen vendors in the City Mall and tricycle operators accept GCash QR payments.

The city also hosts thousands of GCash partner outlets, some strategically located within its public market.

The initiative expanded to the southern region with the Paleng-QR Ph campaign’s launch in Bacoor City, successfully onboarding market vendors and tricycle drivers for cashless payments.

More recently, General Santos City joined the program, with market vendors and tricycle drivers actively participating.

An ordinance was issued to encourage all business establishments, including MSMEs and local transportation, to adopt digital payments.

Sari-sari stores across the city were also onboarded as GCash Pera Outlets.

In addition to facilitating cashless transactions, GCash will continue its financial literacy sessions for public market vendors and tricycle drivers about its services, including GSave, GLoan, GInsure, GGives, and GCredit, to educate locals on managing their finances better.

The BSP and DILG’s Paleng-QR Ph Plus Program is a significant step towards a cashless society, promoting financial inclusion and literacy, and enhancing the efficiency and security of transactions in public markets and transportation hubs nationwide.