The City Government of Davao, in partnership with the Bangko Sentral ng Pilipinas, on Tuesday launched the cashless payment program “PalengQR PH” at the Agdao Public Market.
The PalengQR PH initiative is in line with the City Government of Davao’s commitment to digitalization and automation of business transactions to promote faster and more convenient exchange of services in Davao City.
Agdao is the second public market in the city, after Bankerohan, where the PalengQR PH digital payment system is introduced.
Through the PalengQR, establishments are encouraged to use cashless payment or QR codes as an option for buyers to pay for goods. The BSP will issue distinct QR codes for each merchant and vendor.
Tuesday’s launching was attended by City Economic Enterprise (CEE) head Maximo Macalipes, Councilor Mariz Abella, Councilor Al Ryan Alejandre, BSP representatives, Department of Information and Communications Technology representatives, Barangay Agdao functionaries, and other public officials.
Vendors of the Agdao Public Market were oriented by the BSP on the mechanics of the cashless payment method while the DICT gave a lecture on cybersecurity, after which they were encouraged to register to eligible banks and electronic money issuers.
Financial service providers such as the Landbank, as well as electronic money issuers Gcash, PayMaya and others set up booths and accommodated merchants who wanted to open bank accounts and set up an e-wallet account.
Gerardo Antonio Castillo, CEE Market Supervisor III overseeing operations of the Agdao Public Market, said that although a large number of merchants are still not familiar with the digital payment system, most of them are slowly “accepting this alternative mode of payment because some of the market-goers would ask them if it is okay to pay through their e-wallet.”
Castillo said of the approximately 900 merchants in Agdao Public Market, around 40 to 50 stalls now accept digital payment with many others joining soon.
He said that although the PalengQR system is highly encouraged among merchants, its adaption is still voluntary. CIO