BSP to set up 22 more Paleng-qrs this year

The Bangko Sentral ng Pilipinas (BSP) will establish and launch 21 to 22 additional Paleng-qr Ph Plus within the year, bringing to 68 the total PalengQR program in the country.

The incoming Paleng-qrs will include among others Cabanatuan City, General Santos City, Imus City, Kidapawan City, Laoag City, Valenzuela City, Vigan City, Tarlac, Bataan, Ilocos Sur and Ilocos Norte.

As of April 12, 2024 there are a total of 48 Paleng-qrs including the latest addition of Antipolo City.

Paleng-qr boosts digital payments and enables the digitalization of payment transactions in public markets, public utility vehicles (PUVS) and business establishments.

“Paleng-qr Ph Plus is a joint initiative of the BSP and the Department of the Interior and Local Government that encourages the use of Quick Response (QR) Ph, the national standard for QR code technology. This technology provides a secure, convenient, and efficient way for merchants and customers to make and receive payments,” said the BSP.

During the April 12 launch, BSP Governor Eli M. Remolona Jr. said that by using the QR Ph codes in daily payment transactions, business owners and their customers can expand their digital financial footprint.

“This will give them access to a wider range of financial services, such as credit, savings, insurance, and investments,” he said.

The City Government of Antipolo has passed an ordinance in 2020, requiring all business establishments in the city to adopt alternative modes of payment. In 2022, the resolution was amended by the Sangguniang Panlungsod to include Palengqr as one of the alternative payment options.

The BSP said Antipolo expects to onboard 676 market vendors and over 3,500 tricycle drivers and operators association members to the program.