CITY Mayor Jane Cajes-Yap etched history for Tagbilaran City when it launched Central Visayas’ first city to implement cashless payment in its central market and public transport, as she realizes a promise she ticked during her assumption into office.
Together with the Bangko Sentral ng Pilipinas (BSP) and financial service provider (FSP) partner institutions, Tagbilaran City launched January 11 its PalengQRPh plus, as it starts to implement City ordinance that allows majority of Tagbilaran City Central Market merchants to accept cashless payments of goods and services as well as fares for its regulated tricycles.
With the launching of PalengQRPh here, customers can do cashless transactions in the 57% of the Central Market merchants as well as tricycle drivers and operators in the city tricycle operators and drivers association with cashless transaction accounts, so the plus, explains BSP Deputy governor for regional operations and former tourism secretary Bernadette Romulo-Puyat, during her message.
The cashless transactions protect the market from the circulation of fake bills, eliminates the need for loose change, allows for a convenient shopping while it heaps up a buyer’s score which can be converted into loan amount should the account holder want to put up a credit line, she added.
PalengQR PH program is jointly developed by the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG), and aims to build the digital payments ecosystem in the country by promoting cashless payments in public markets and local transportation, particularly tricycles.
Capitalizing on the country’s QR Ph initiative, the program found support in Tagbilaran City’s Sangguniang Panlungsod under Trade and Commerce Committee chair Nicanor Besas and City Vice Mayor Adam Relson Jala with the local ordinance enjoining market vendors, community shopkeepers, and tricycle operators and drivers (TODA) to accept cashless payments.
During the launching, Tagbilaran City gathered financial service providers with QR capabilities like Starpay, Maya, UnionBank, LandBank, RCBC, AUB and GCash to assist target users to open transaction accounts.
On the other hand, BSP put up a booth that accepts the conversion of crumpled, soiled and dirty bills into mobile accounts, so owners can immediately start buying.
GCash also assured that they are putting up more and more pay-in outlets
At the market, buyers simply need to scan the QR codes on the items they want to buy, and this directs him to the merchant account, and in just a push of a button, he can consummate the sale, his payment exact and without any need for change. (RAHC/PIA-7/Bohol)
