News and UpdatesIn the NewsBSP officials OK cashless payments in local markets

BSP officials OK cashless payments in local markets


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Key officials of the Bangko Sentral ng Pilipinas on Tuesday expressed optimism that cashless payments at the local markets in Dumaguete and across Negros Oriental will be launched early next year.

BSP Deputy Gov. Bernadette Puyat said in an interview that Negros Oriental Gov. Manuel Sagarbarria and Dumaguete Mayor Felipe Antonio Remollo have both committed to support the BSP’s financial inclusion thrusts, including cashless transactions for the marginalized sectors.

“We have this Paleng-QR PH Program, alongside the Department of the Interior and Local Government, and we are promoting cashless payments at our public markets and for our tricycle drivers thus, we need the help of the local government units,” Puyat said in mixed English and Filipino.

Puyat said she visited the public market in Dauin town, about half an hour’s drive south here, where she learned of its free Wi-Fi collaboration between the LGU and the private sector.

She said Dauin would be the first to have the Paleng-QR PH Program launched hopefully by the first quarter of next year.

The Dumaguete public market will also follow suit considering the assurance of the city mayor that he will push for digitalization as expressed to her in a previous engagement, she added.

Sagarbarria, although not being specific on the kind of support he will be given, said he wants the Province to move forward in the direction of digitalization.

Puyat said the BSP will be providing assistance and support in helping the beneficiary-sectors like market vendors and tricycle drivers in learning about cashless transactions, such as through banks and online platforms.

She admitted the need for a robust and reliable Wi-Fi connection to ensure seamless digital payments.

Puyat and other BSP officials earlier led the Outstanding Stakeholders of the Visayas appreciation ceremony at the Luce auditorium of Silliman University in this capital.

The 2023 Outstanding BSP Stakeholders Appreciation Ceremonies-Visayas Regional Office awardees are Rizal Commercial Banking Corp.–Dumaguete; Landbank of the Philippines–Dumaguete; Landbank of the Philippines-Cebu Osmeña Boulevard branch; the Bureau of Local Government Finance Regional Office 7; Bureau of Local Government Finance Regional Office 8; Bureau of Fisheries & Aquatic Resources Regional Office VII 7; the Department of Trade & Industry in Siquijor; DTI–Negros Oriental; and the Bohol Provincial Library & Information Center.

Romeo Bernardo, Monetary Board member who represented BSP Gov. Eli Remolona Jr., in his message during the awarding ceremony, highlighted the need to reach out to stakeholders in sharing the bank’s programs.

“Today, we recognize our outstanding partners from the Visayas to help the Central Bank fulfill its mandate to support our economy and to make our lives better for our people,” he said.

Bernardo said the stakeholders are the BSP’s partners in ensuring financial stability, collaborating on different advocacies, providing insights to policy-making and helping find innovative solutions. (Judy F. Partlow/PNA) 



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