PNA file photo
MANILA – The Bangko Sentral ng Pilipinas (BSP) will initially focus on the 10 areas where the Paleng-QR digital payment system is currently utilized, with a ranking central bank official citing the importance of fast internet connectivity as it expands coverage.
In a recent interview with journalists, BSP Deputy Governor Bernadette Romulo-Puyat said more local government units (LGUs) have indicated willingness to adopt this payment system, with those already on board passing their respective local ordinances for this purpose.
BSP has led the launching of the Paleng-QR PH Plus program in the cities of Baguio, Cebu, Davao, Naga, Tagbilaran, Pasig, Lapu-Lapu, and Bacolod; and the towns of Camiling in Tarlac province and Carmona in Cavite province.
Romulo-Puyat said Paleng-QR program is among the government’s modes of increasing digital payments in the country, with this system using quick response (QR) codes.
With the program, a digital database tracks transaction habits and credit worthiness of households and micro, small and medium enterprises (MSMEs) that do not have credit histories and/or sufficient collateral to get loans from the formal financial system.
As the program’s coverage is expanded, Romulo-Puyat said they want to study first the system in areas where the program has been launched to ensure it is effective, noting particularly the need for a stable internet connection.
“That’s the problem and that’s what we’ve asked (for) help not from DILG (Department of the Interior and Local Government) but more from DICT (Department of Information and Communications Technology),” she said in mixed Filipino and English.
Romulo-Puyat disclosed that Baguio City Mayor Benjamin Magalong has secured a deal with an internet service provider for the city and the speed is “really fast.”
She said such a deal is being eyed to be replicated by Pasig City Mayor Vico Sotto.
“We want to make it work kasi mahirap if masyadong marami tapos failure naman, hindi naman 100 percent. So kini-case study naming lahat (We want to make it work because there’s no sense in having so many participants but a failure, not 100 percent (working). So we’re using the existing ones as base for case study),” she added. (PNA)
