Philippine National Bank (PNB) strengthens its campaign for cashless payments as it partnered with the Bangko Sentral ng Pilipinas (BSP) and Cebu2World Development Corp. in hosting the Paleng-QR event at Cebu City’s Carbon Market on Aug. 15, 2024. Attracting hundreds of market vendors and customers, the event was also supported by the Department of Interior and Local Government (DILG) as well as the Cebu City local government.
Now on its second year, the Paleng-QR Ph program is a joint initiative by BSP and DILG. It is part of a broader effort to enhance the digital payments ecosystem in the Philippines by encouraging cashless transactions in public markets and local transportation, particularly tricycles. This program aligns with BSP’s mission to drive financial inclusion across the country, making banking and digital payments more accessible to all Filipinos.
PNB President Florido P. Casuela cited how this initiative aligns with PNB’s mission to help build an inclusive and sustainable economy. He said, “At PNB, we aim to empower every Filipino through reliable and secure financial services. By making digital modes of payment available to a wider audience, we can help enhance our local economy and uplift the quality of life in communities.”
Prior to the Paleng-QR market event, PNB organized financial literacy learning sessions for market vendors. PNB SVP and Marketing Group Head Jennifer Y. Ng underscores the importance of knowledge-sharing and engaging the public to learn more about financial health.
“We are happy with the positive reaction of Cebu City’s market community to the activities we have prepared for them,” she said. “We are thankful to all our partners who helped make this endeavor a huge success. Most of all, we are thankful to the Cebuanos for being open to embrace technology and for giving PNB a chance to present our other financial services. One of our key goals is to meet their unique needs and contribute to their growth.”
PNB was recently recognized for Excellence in Customer Service Innovation by The Digital Banker in its Digital CX Awards 2024. Prior to this, the bank was honored as Most Admired Financial Services Provider in the Philippines by the International Business Magazine. Earlier this year, PNB was ranked number one by Forbes Magazine in its Philippine list of the World’s Best Banks for 2024, wherein one of the satisfaction markers was digital services (ease of using the website and app).