In a move seen to make bill payments easier and more convenient for subscribers, leading fiber broadband provider Converge ICT Solutions Inc. joins “Bills Pay PH” as the first participating telecom services biller and has adapted the national Quick Response (QR) code standard - QR Ph - to make bill payments possible through any participating financial institution’s mobile application.
In a ceremony led by the Bangko Sentral ng Pilipinas (BSP) recently, Converge together with the Philippine Payments Management Inc. (PPMI), RCBC, and other partner banks, provided a successful demonstration of the scanning of a QR code unique to a customer account to pay for a Converge bill.
“Staying true to our goal to continuously innovate, we are glad to join the network of digital-ready billers in joining the Bills Pay PH system, and add another convenient payment option for our 1.84 million subscribers,” said Converge CEO and Co-Founder Dennis Anthony Uy who was present during the BSP launch.
Bills Pay PH, launched by the BSP in partnership with PPMI, is the interoperable facility through which digital payments between customers and billers are coursed through. It is a unified platform that allows billers to collect payment from customers even if each party’s payment service providers are different. Through the facility, customers are no longer limited to the billers available in their e-wallet or bank, and no longer need to maintain an account with the bank where their biller is enrolled.
“Through the launch of Bills Pay PH, we hope to provide greater convenience to customers as it is available 24/7, all-year round, and free of charge for the payor. This will also allow more billers, big or small, to be onboarded and accept digital payments,” said BSP Deputy Governor and Head of Payments and Currency Management Sector Mamerto Tangonan.
According to Philippines Payment Management Inc. (PPMI) President Abraham Co, there are currently 470 billers in the Bills Pay PH network, and so more customers can enjoy the convenience of paying wherever and whenever they want, from the comfort of their home.
“The future is very bright in this respect, and these are very exciting times for digital payments,” affirmed BSP Governor Felipe Medalla, during the launch event.
Under the BSP Circular No. 1055, the central bank required all participating payment service providers to adopt QR Ph for interoperability. Payment via QR code is one of the two methods of payment through the platform. The other method is through the manual input of details.
“Paying for bills digitally is now easier than ever with our adoption of the QR Ph standard. This means that whatever bank or e-wallet customers are using - as long as the bank or e-wallet is a participant to the Bills Pay PH network - they can easily pay for their bill, using just one QR code. There’s no need to enroll a biller in their bank. Just scan the QR code on their Statement of Account and their bank will recognize the Converge account, ready for payment,” said Ulysses S. Naguit, Converge Chief Information Officer.
Converge will feature the interoperable QR codes in their Statement of Accounts starting next month.
When customers scan the QR Ph code using their bank or e-wallet app, their Converge account number will automatically appear and they only need to enter the amount to be paid.
RCBC is the acquiring partner of Converge that pioneered the Bills Payment solutions to its users. With a commitment to providing the most appropriate and convenient solutions to its customers, the service is free of charge.
“RCBC has always been committed to fast-tracking digital payments adoption in the country. Bills payment is an area where we can bring more comfort to Filipinos,” said Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer, RCBC.
“We are grateful to BSP’s proactive stance in promoting interoperability of our financial system. The Bills Pay PH is a welcome initiative that will further accelerate digital payments and improve ease of our lives through convenient, seamless, and fast bills payment across different billers and banks,” Villanueva added.