The Iloilo City Government, in partnership with Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG), launched the cashless payment program “Paleng-QR PH Plus” at Terminal Market on Nov. 23.
The initiative aims to build the digital system by promoting cashless payments in public markets and local transportation, particularly tricycles.
The program seeks to promote the acceptance of digital payments among market vendors, community shopkeepers, and Tricycle Operators and Drivers Associations (TODA).
Mayor Jerry P. Treñas expressed appreciation and gratitude to all who supported and helped make the program possible.
“I am very thankful because of this program, our market-goers and vendors will have easier access when it comes to their payment. We will continue to prosper in Iloilo City,” said Treñas.
Bangko Sentral ng Pilipinas Visayas Regional Office Director Anna Clara Oville; DILG Assistant Regional Director Maria Calpiza Sardua; BSP-Iloilo Branch Area Director Joanne Marie Castelo; BSP IT Infrastructure and Operations Department Senior Director John Regala; Deputy Director Golda Cainglet; Regional Economic Affairs Staff and BSP Visayas Regional Office Dr. Grey Bacay; Payment Policy and Development Office Marnelie S. Aguilar; and other BSP officials and personnel graced the event.
Financial Service Providers (FSP) from Gcash, Star Pay, Paymaya, Landbank of the Philippines, Banco De Oro, and Asia United Bank were also present.
BSP Regional Operations and Advocacy Sector Deputy Governor Bernadette Romulo-Puyat said this is a milestone in making the city more digitized and financially inclusive.
She stressed the program benefits including sanitary cashless payment; convenient cashless transactions; the prevention of fake money; the financial footprint of vendors and suppliers; and the lesser cost of transactions.
Puyat noted there are 1,629 vendors in Iloilo Terminal Market (Super), and 1,870 tricycle drivers on board this program as of Nov. 13.
She encouraged market-goers to register with acceptable banks and electronic money issuers to enjoy the benefits of digital payments.
“For those who don’t have a bank account, I am encouraging everyone to open a Basic Deposit Account or BDA, aside it having a minimum initial deposit of P100 or less, the BDA has no maintaining balance nor dormancy charges,” she added.
Local Economic Enterprise Office (LEEO) head Maricel Mabaquiao said vendors are starting to receive cash-less payment because some market-goers would inquire if they accept payment through e-wallet.
“The authors of Regulation Ordinance No. 2023-49, you will go down in history as the first set of officials to have fostered and advocated digitalization, and you will be remembered by this generation, and the generation to come,” said Sardua. (Alexandra Jover/Iloilo City PIO)
This technology enhances convenience, reduces transaction times, and offers a more secure and contactless payment option.