City, BSP launch PalengQR Ph

The PalengQR PH Plus of the Bangko Sentral ng Pilipinas and the Department of Interior and Local Government was formally launched in the city on February 10, this year, capacitating even the small sari-sari stores in the community and the local transport groups to go in with the country’s financial system.

The event, during which the first “account opening day” was held, was described by BSP Deputy Governor Bernadette Romulo- Puyat, who is also the regional operations advocacy sector head of the BSP, as the first in South Luzon.

During the event, the city government assisted the target participants e.g. vendors and trimobile operators in the opening of accounts by way of providing additional relevant documents such as the LGU certification to support the know-your-customer requirements of financial service provider.

In her message, the BSP official said that the event, which was participated in by different banks, financial service providers, businessmen and other stakeholders, has led to the opening of the gateways that will enable the public to enjoy the many benefits of cashless payments.

She lauded the leadership of Mayor Nelson Legacion and Vice Mayor Cecilia de Asis for the issuances of the necessary policies and mobilizing its resources to ensure the successful implementation of the program, which, according to her, will help widen the financial access of vendors, public utility vehicle drivers in our financial system thru digital payments as the program grants them access to credit and financing from banks and lending institutions.

“We are grateful to the Sangguniang Panlungsod for the speedy passage of the ordinance authored by City Councilor Joselito del Rosario and City Councilor Jose Perez, which incentivize the adoption of QR PH Plus payments for local businesses and transportation,” she said.

PARTNERS BSP Deputy Governor Bernadette Romulo-Puyat (3rd row, 5th from left), Mayor Nelson Legacion (3rd row, 4th from right), and Vice Mayor Cecilia de Asis (3rd row, 4th from left) lead the launching of Paleng-QR PH program in Naga City on February 10, this year. Photo also shows city councilors (from left to right) Gayle Abonal-Gomez, Sonny Rañola, MD; Joe Perez, Jesse Albeus, a BSP personnel, and Lito Del Rosario. Second row, from left to right: Rodney Francis Borbe, Area Business Lead-Enterprise; Jarette Aotriz, Key Accounts Specialist; Gladys Chavez, Area Business Lead-Naga, and Maria Teresa Evangelista, owner of Innoserve. First row (from left to right): Alvin Paglinawan, Area Business Lead-Albay; Prassana Rao, head of Retail-MSME; Eric Delos Reyes, Regional Business Manager, South Luzon/NCR; and John Alliage, Marketing Manager-Enterprise.

Known as the PalengQR PH Program in Naga City, the ordinance enjoins all business establishments and local transport groups in the city to adopt QR PH digital payments in line with the PalengQR PH Program of the national government.

It is contained in the ordinance’s incentive clause that all business owners and tricycle operators who shall provide QR PH as an alternative mode of payment shall be granted with incentives like 5% discount on all fees and/or business taxes in connection with the establishment, operation, and maintenance of the market stall or tricycle operation for the first 3 years of the PalengQR PH program and the grant of 5% discount on all stall rental on the first year of adoption.

Among the financial service providers that helped in organizing the event was PayMaya, which provided personnel, customer assistance booths, and other appropriate resources to ensure successful conduct of the Paleng-QR Program “account opening day.”

In an interview with Bicol Mail, PayMaya’s head of retail (MSME) Prassana Rao, said his company joins the forefront in the rollout of Paleng-QR in the Bicol Region as the fintech gamechanger in the adoption of cashless payments nationwide through the Paleng-QR Ph initiative.

“Today, we’ve joined forces with the BSP and DILG to enable sellers at the Naga City People’s Mall, tricycle drivers, and sari-sari storeowners in the community with our QR Ph-compliant Maya QR. This is part of Maya’s effort to accelerate the country’s QR standard for payments,” Rao said.