Mayor Felipe Antonio Remollo of this capital city is set to hold consultations with vendors and tricycle drivers for the possible adoption of a cashless payment known as Paleng-QR Ph Program of the Bangko Sentral ng Pilipinas (BSP).

City public information officer (PIO) Catherine Aguilar told the Philippine News Agency on Friday that the mayor is “highly considering the cashless payment but will have to first get the inputs and sentiments of the public market vendors and public transport sector”.

Acting information officer Luther Palma of the BSP here presented the concept to Remollo last Wednesday, discussing the objectives and mechanics of the Paleng-QR, which is co-developed with the Department of the Interior and Local Government, she said.

The Paleng-QR Ph program will allow vendors and drivers of tricycles to receive digital/online payments using QR codes from their customers and passengers for faster, more efficient, and secure transactions especially when there are restrictions in mobility caused by the Covid-19 pandemic, the city PIO said.

BSP Deputy Governor Bernadette Puyat is also expected to visit Remollo to discuss how to institutionalize the implementation of the Paleng-QR Ph program in the locality.

In a letter signed by BSP Deputy Director Janice Jade V. Tan-Canonigo, she stressed that LGUs will help drive financial inclusion in their communities through the passage of local ordinances incentivizing digital payments and the provision of assistance in the account onboarding of target users, a media release from the city PIO said.

By implementing the Paleng-QR Ph program, the LGUs will be benefitted as more constituents will have the opportunity and incentive to open transaction accounts, enabling cities and municipalities to facilitate the disbursement of cash assistance and benefits in a more efficient and secured manner. (PNA)