Trade cmte tackles PALENG-QR PH Plus

The City Council committee on trade and commerce chaired by Councilor George S. Goking yesterday met representatives of the Bangko Sentral ng Pilipinas (BSP) who presented the PALENG-QR PH Plus, which aims to promote account ownership and digital payments in the country.

The Paleng-QR Ph Plus is a collaboration framework to promote cashless payments in public markets and local transport across the country and accelerate financial inclusion toward broad-based economic growth and resilience for all. It covers LGUs, financial service providers, the Department of Interior and Local Government (DILG), and BSP.

One of its components is the enactment of a policy ordinance mandating or incentivizing acceptance of QR Ph payment in public markets, local transportation, and other merchants. The implementation of Paleng-QR Ph supports small merchants and vendors productively engaging in the digital economy as it is convenient and for health and safety, access to better financial services, new income opportunities, and job generation for the community.

The program aims to achieve universal account ownership in the city wherein more efficient delivery of government assistance for the vulnerable sector and optimizes the e-governance system for revenue collections and ease of doing business.

Councilor Malvern Esparcia asked if the program is user-friendly because in the public market there are things to consider like internet connections, phone use, and the classification of users. The committee is set to further study the proposal with other committees and departments concerned.