Globe Fintech, BSP, DILG join hands to launch ‘Palengqr-ph’ in Bohol
GCASH mobile wallet-operator Globe Fintech Innovations Inc. (GFII) announced it has partnered with the Bangko Sentral ng Pilipinas (BSP), Department of the Interior and Local Government (DILG) and the local government of Tagbilaran City for the rollout of the “Paleng-qr Ph” program in the Bohol capital.
The Paleng-qr Ph program, jointly developed by BSP and DILG, aims to build the digital payments ecosystem in the country by promoting cashless QR payments in public markets and local transportation, particularly tricycles.
“Under this partnership, our merchants at the Dao Public Market and the rest of the micro, small and medium enterprises [MSMES] in Tagbilaran City are enjoined to display their Gcash QR code at their stores with the statement ‘We accept Gcash here,’” GFII CEO Martha M. Sazon was quoted in a statement as saying. “This way, we are empowering our small vendors to adopt cashless transactions in our efforts to boost digitalization in how they do business.”
The launch last January 10 gathered key officials from Gcash, BSP, DILG, Tagbilaran local government unit (LGU) and market stakeholders, GFII said.
Capitalizing on the QR Ph initiative, the program, which was launched in June 2022, seeks the policy championship and enjoins LGUS to push for the acceptance of digital payments among market vendors, community shopkeepers and tricycle operators and drivers (TODA) in all cities and municipalities in the country, the firm added.
Onboarding of vendors, MSMES
WITH the program’s entry to Bohol, Sazon noted that they have so far onboarded a total of five public markets, 133 market vendors in Dao and 155 TODAS to allow payment through Gcash.
Currently, there are about 138 active Gcash outlets where users can cash in and cash out.
Gcash QR codes deployed as of last Tuesday are all operational and widely used by locals and tourists. Gcash-to-gcash transactions continue to remain free of charge ensuring convenience to its patrons.
“We fully support the Paleng-qr initiative of the government because we believe that in order for Filipinos to really adopt cashless transactions, the natural place to introduce this is where they usually spend their money—the wet markets or ‘palengkes’ [markets],” Sazon said. “We aim to enable more Filipinos to thrive in this digital era.”
Expressing her optimism on the program’s rollout in Tagbilaran City Mayor Jane Censoria Cajes-yap pointed out that this is an important breakthrough in the city’s financial inclusion efforts.
“We welcome this milestone partnership with Gcash, especially since we, at the City Government, have been supporting the city’s efforts towards digitalization,” Yap was quoted in GFII’S statement as saying. “This is an important step to achieving that goal. With this collaboration, we are optimistic of the economic benefits that it will bring especially to our Boholano vendors.”
By using the Gcash app, merchants can easily receive and transfer money securely and conveniently with just a few taps on their smartphone, saving them time and effort. In the same way, it is also convenient for customers who use digital and cashless payment.
“We have definitely made progress in this program. We are on the right track in making financial services easier to access and understand through our Gcash app,” Sazon said. “With this long-term partnership, we aim to create a brighter, more financially-inclusive future for Filipinos.”
Currently, Gcash has over 71 million users nationwide, giving Filipinos easy access to savings, loans, investments and insurance.