Marcos backs use of cashless payments under Paleng-QR Ph Plus program

President Ferdinand "Bongbong" Marcos Jr. has expressed his support to the enforcement of the Paleng-QR Ph Plus initiative, saying he wants government agencies to educate Filipinos on the use of e-wallet and other digital payment applications.

Marcos expressed his support during a meeting with the Private Sector Advisory Council (PSAC) Digital Infrastructure Cluster on Thursday at the Palace.

According to the Presidential Communications Office, PSAC Member Ernest Cu, president and CEO of Globe Telecom, explained to Marcos that the use of quick response (QR) codes and other digital payment apps is like a "home run" for the government, saying that agencies are excited to start serving the public markets using these codes.

"We have to do it. It’s a grassroots level approach. There are also videos on YouTube and we also have Tiktok to get people to educate themselves. And if you use the app regularly, you will see it being offered to you on the app," Cu said, noting the country's very high technology adoption rate.

The Paleng-QR Ph program, jointly developed by the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG), aims to build the digital payments ecosystem in the country by promoting cashless payments in public markets and local transportation, particularly tricycles.

The BSP said the program highlights the significance of market purchases and local transportation fares as basic components of an average Filipino's typical payment pattern.

The BSP has already deployed teams conducting information and education campaigns across the country regarding the said program.

The PSAC said the adoption of QR codes and use of digital payment apps will "make savings and loan applications in banks a lot easier for the public, especially the farmers, fisherfolks and small businesses."

It also said the government could eliminate the 5-6 lending and similar money lending businesses thus making the cost of running small businesses "go down."

Meanwhile, the PSAC also made new recommendations to the President during the meeting. These include the adoption of the National Cybersecurity Plan (NCSP) 2023-2028 and the Connectivity Index Rating System. — RSJ, GMA Integrated News