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5:25 pm on 22 November 2022, Tuesday
Romeo Braceros Jr.
On November 23, the Davao City Government will introduce the PalengQR PH, or cashless payment system, in collaboration with the Banko Sentral ng Pilipinas (BSP) and the Department of the Interior Local Government (DILG).
PalengQR Ph program encourages businesses to accept cashless payments or QR codes as an extra payment method for items.
Zarinah S. Aligsao, BSP Bank Officer IV and Regional Economic Affairs Staff, Mindanao Regional Office, stated that under PalengQr PH, businesses are urged to show their QR code together with the message "We take Gcash here.
“If you are the buyer, you will immediately see that you can pay through Gcash," Aligsao said.
The "onboarding" of merchants and stakeholders to financial service providers, such as banks and electronic money issuers, will take place at the launch on Wednesday.
For those who still need accounts, DBooths of Landbank, Asia United Bank, Rizal Commercial Banking Corporation (RCBC), and electronic money providers Gcash, PayMaya, and StarPay will be set up.
Aligsao stated that the booths would also handle the printing and laminating QR codes.
The onboarding won't be restricted to a single open market; instead, it will likely take place in many of them throughout the city.
“Davao City will be the first city in Mindanao to adopt and implement this program,” Aligsao added.
From midnight on November 21 until midnight on November 23, the section of Marfori Street between the corner of Pichon Street and Datu Bago Street will be closed for the PalengQR-PH Program.
The City Ordinance No. 091-22, Series of 2022, supports the route's closure. In preparation for the PalengQR PH Launch, this will make room for the erection of tents and booths for the financial service providers, the Bangko Sentral ng Pilipinas, and the City Government of Davao.
According to Aligsao, the scheme benefits both consumers and businesses because it makes it easier for companies to provide customers with change and lowers the likelihood of receiving damaged bills.
The cashless payment system also aids in reducing the risk of viral transmission, given the prevalence of COVID-19 in our neighborhood, she claimed.
She added that the new digital cashless payment system contributes to increased potential digital payers.