The Pasig City local government met with officials of the Bangko Sentral ng Pilipinas (BSP) on Friday, Oct. 28, to discuss and promote the use of cashless payments and digitalization.
The Pasig City local government met with officials of the Bangko Sentral ng Pilipinas on Friday, Oct. 28, to discuss and promote the use of cashless payments and digitalization.
Pasig City Mayor Vico Sotto, Vice Mayor Robert “Dodot” Jaworski Jr., and City Councilor Simon Romulo Tantoco, the chairman of the Committee on Trade, Commerce, and Industry, welcomed BSP Deputy Governor Berna Romulo Puyat at the city hall.During the meeting, the BSP officials discussed their Paleng-QR PH program that promotes digital payments in public markets and transportation.
Through the program, the BSP aims to entice local government units to participate in helping to build a “digital payments ecosystem.” The program aims for digital payments to serve as a legitimate alternative option for buyers, sellers, and other service providers.Cashless transactions, according to the BSP, help prevent counterfeit bills, avoid problems in providing change by paying exact amounts, and reduce long lines for various monetary transactions.