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Manila Bulletin devider Philippines devider Pasig LGU, BSP eye digital payments for local markets

Pasig LGU, BSP eye digital payments for local markets

Published Oct 30, 2022 06:41 pm

The Pasig City local government met with officials of the Bangko Sentral ng Pilipinas (BSP) on Friday, Oct. 28, to discuss and promote the use of cashless payments and digitalization.

Pasig City Mayor Vico Sotto, Vice Mayor Robert “Dodot” Jaworski Jr., and City Councilor Simon Romulo Tantoco, the chairman of the Committee on Trade, Commerce, and Industry, welcomed BSP Deputy Governor Berna Romulo Puyat at the city hall.

Photo from Simon Romulo Tantoco FB Page

During the meeting, the BSP officials discussed their Paleng-QR PH program that promotes digital payments in public markets and transportation.

Through the program, the BSP aims to entice local government units (LGUs) to participate in helping to build a “digital payments ecosystem.”

The program aims for digital payments to serve as a legitimate alternative option for buyers, sellers, and other service providers.

Photo from Simon Romulo Tantoco FB Page

Cashless transactions, according to the BSP, help prevent counterfeit bills, avoid problems in providing change by paying exact amounts, and reduce long lines for various monetary transactions.

Other matters discussed during the meeting were financial literacy, e-payments, and digital banking

“We will continue to scale up until every Pasigueno has their own City ID, which will be integrated with PasigPass and financial service providers,” Sotto said in a social media post.

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