Maya, the all-in-one money app, accelerates the adoption of QR Ph as it joins the Bangko Sentral ng Pilipinas (BSP) and the Department of Interior and Local Government (DILG) in the launch of Paleng-QR Ph in Baguio City today.
The Paleng-QR Ph program aims to digitalize transactions at the community level, starting with public markets and local transportation. The program enables vendors and tricycle drivers to accept digital payments from customers via QR Ph, the national standard for QR payments. Maya's QR codes are QR Ph-compliant, and its app can scan any QR Ph-powered transaction.
"Public markets are the vibrant hubs of local economies, connecting local and regional food producers, businesses, and transport providers to consumers. Creating the 'digi-palengke' experience with QR Ph and Maya's all-in-one money platform will accelerate digital adoption and financial inclusion at the grassroots level," said Orlando B. Vea, PayMaya CEO-founder and Maya Bank co-founder.
"We fully support the Paleng-QR Ph program of the BSP and DILG, starting with this pilot with the Baguio City local government," he added.
First to adopt the Paleng-QR Ph program is Baguio City, the country's summer capital, known for its clean and organized public market. BSP Governor Felipe Medalla and Baguio City Mayor Benjamin Magalong kicked off the program in ceremonies held today at the city's Malcolm Square.
Even before the rollout of Paleng-QR Ph, Maya has been equipping Baguio City merchants with the QR Ph-enabled Maya QR. These include market vendors, public utility drivers, bus stations, hotels, restaurants, groceries, pasalubong centers, and tourist spots.
"On top of digitalizing the public market, we're enabling the city's end-to-end ecosystem from sari-sari stores to government offices and large merchants. And we're doing this all over the Philippines," said Khurram Malik, Chief Operating Officer at PayMaya, who expressed Maya's commitment during the launch.
For the past years, Maya has led the charge in helping LGUs build their "digi-palengke" through its LGUs Embracing and Accelerating Digitalization (LEAD) program. Among these markets are the Marulas Public Market in Valenzuela City, Antipolo City Public Market in Antipolo City, Kadiwa rolling stores, and Divisoria street stalls in Manila City.
Maya is the first fintech brand to adopt QR Ph person-to-person (P2P) payments in 2019 and person-to-merchant payments (P2M) in 2021. Since then, Maya has adopted the country's interoperable QR Ph standard across its end-to-end digital payments ecosystem.
Maya's over 50 million registered users can enjoy a convenient cashless experience by using their all-in-one money app that can send and accept QR Ph P2P payments. Meanwhile, even non-Maya users can pay at over 700,000 QR Ph-enabled Maya merchant touchpoints nationwide, the most extensive number deployed by any financial institution.
Maya is the all-in-one money platform bringing Filipinos bolder ways to master their money. It leads millions of Filipinos — consumers, businesses, communities, and government agencies alike — into a digital economy that's more inclusive, transparent, and empowering. To know more about Maya, visit maya.ph or follow @mayaiseverything on Facebook, IG, TikTok, and YouTube and @mayaofficialph on Twitter. Join the Maya Telegram community at https://t.me/TeamMayaPH