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PALENG-QR CASHLESS PROGRAM BEGINS RUN IN BAGUIO MARKET
16 September 2022 – The Paleng-QR Ph cashless payment program has begun its run at the city market.
Mayor Benjamin Magalong said offline cash transactions at the city market started this month using top financial service providers (FSP) Gcash and Maya.
Cashless online transactions like Online Marketplace and delivery will be handled by Unionbank with target launching date in October.
Landbank online meanwhile will take charge of the e-gov cashless online transactions targeted for the end of September.
The program had its pilot launch in the city last August 14, 2022 where the FSPs rendered onboarding services to interested vendors and merchants at the city market.
During the launching, city officials led by Mayor Benjamin Magalong, Rep. Marquez Go and City Councilors Isabelo Cosalan Jr., Fred Bagbagen, Leandro Yangot and Betty Lourdes Tabanda thanked the program implementers Bangko Sentral ng Pilipinas and the Department of Interior and Local Government Cordillera (DILG) for choosing Baguio City as pilot site for the groundbreaking program.
“We, in the city, are in shared solidarity in expressing our profound gratitude and our overall sense of pride as we have been chosen as the pilot city for the launching of the Paleng – QR Program. This is very much in line with our programs to transform the city in a Smart and Sustainable City by 2025,” Magalong said.
BSP Governor Felipe Medalla, in his inspirational message said Baguio City’s diligent pursuit of digitalization programs as well as its dynamic economy made it as an ideal pilot site for the program.
“Baguio has not taken one step, it has already taken many steps (on digitalization), so we started Paleng-QR in the right city. We are hoping and praying that it will reach the sidewalk vendor, the tricycle driver, the jeepney driver,” Medalla said.
Medalla was with BSP Deputy Governor Bernadette Romulo-Puyat who along with DILG-CAR Regional Director Araceli San Jose expressed full support to the city’s piloting the program rollout.
Aimed at promoting cashless system as alternative method of transaction in public markets and local transportation, the program aims to create a digital payments ecosystem making use of existing financial service providers to facilitate cashless transactions between merchants and consumers.
Mayor Magalong expressed reception to the program saying it is aligned with the city's own digitalization thrust and will help improve the city's collection system, eliminate collection malpractices and will benefit the vendors in terms of speeding up payment and ensuring integrity in transactions.
The city council also expressed support to the program by passing a resolution that authorized the mayor to negotiate and enter into an agreement with the Globe Telecom and any other equally qualified online payment service providers for the adoption of additional or alternative mode of payment of taxes, fees and charges due to the local government subject to its confirmation. – Aileen P. Refuerzo