BSP official cites convenience of ‘Paleng-QR Ph’

By Lorenzo Lambatin Jr.

Bangko Sentral ng Pilipinas (BSP) Deputy Governor Bernadette Romulo-Puyat hails the joint BSP and Department of the Interior and Local Government (DILG) project which paves the way for a cashless transaction of ordinary citizens anywhere in the country.

During the recent launching of the “Paleng-QR Ph Plus” in Bacolod City, she said that by using a smartphone, one’s daily transaction in the public market, bus, jeepney, and tricycle can now be a matter of pressing their phones to make purchases and payments.

Puyat said this is a sanitary method of paying, and is relevant to the government’s efforts to prevent the spread of contagious diseases such as COVID-19.

She noted that during the height of the pandemic, digital platforms allowed for faster delivery of government services to the people.

With this platform, the trouble of having to give change is totally eliminated, and was also designed to accommodate various banks and digital financial platforms.

Another advantage of using Paleng QR is that the vendors’ and suppliers’ transactions create financial footprints which could open opportunities for savings, insurance, and even acquiring loans, she said. (PIA)