Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla and Pasig City Mayor Victor Ma. Regis “Vico” Sotto kicked off the Paleng QR Plus launch today at the Pasig Mega Market.
BSP Governor Felipe Medalla said the push to encourage QR payments helps businesses to better access advanced financial services by creating a digital footprint. “As you remit payments, the payments themselves generate a new set of data that can be used to replace the primitive ways of lending which are based on collateral,” he said.
“QR Ph greatly simplifies retail payments, making it easier for consumers and merchants to embrace digital for everyday transactions. With Paleng-QR, we’re bringing QR Ph to the heart of our communities – our public markets. We are proud to support the program’s rollout in Pasig City, one of the most digital-forward local governments in the country,” said Shailesh Baidwan, Maya Group President.
“The rollout of QR Ph Plus will benefit our economy. It will help fight against counterfeit money, make giving and receiving change more accurate, and prevent losing coins,” Pasig City Mayor Vico Sotto said in Filipino.
Maya has led the fintech and banking industry in the nationwide rollout of Paleng-QR Ph, including Baguio City, Davao City, Tagbilaran City, Naga City, and Lapu-Lapu City.
Building the digital ecosystem
Maya is already powering the digital payment acceptance for thousands of local enterprises in the city, from large malls to small shop owners. It also has hundreds of Maya Centers across the city’s 30 barangays where consumers can cash in and cash out for free. Maya’s support of the Paleng-QR Ph launch in Pasig City is part of its thrust to strengthen the local government’s cash-lite initiatives.
Joining Maya’s Paleng-QR Ph rollout is PLDT’s wireless unit Smart Communications. Smart has boosted the city’s network to provide the fast and reliable connectivity needs of Pasigeno merchants, tricycle drivers, and consumers.
As an ecosystem leader, Maya is the first fintech company to roll out QR Ph for both person-to-person (P2M) and person-to-merchant (P2M) payments. Maya QR can send and receive payments from any QR-compliant e-wallet or bank app.
Consumers can enjoy the QR Ph interoperability through Maya’s superior omnichannel touchpoints, allowing even non-Maya app users to transact with merchants via Maya QR Standees, Maya Terminal point-of-sale devices, and online checkout via Pay with Maya.
Today, Maya has enabled over 800,000 QR Ph Maya merchants in 96% of the country’s cities and municipalities.
All-In-One Banking and Money Platform
Maya is leading the charge towards building more Paleng-QR Ph-ready local governments as the initiative enables consumers and micro-enterprises to access more advanced banking services powered by the #1 digital bank.
Consumers and MSMEs can build their financial footprint by regularly doing QR Ph transactions. This footprint is important to access Maya’s game-changing and life-enhancing financial services such as its high-interest deposit account and instant credit inside the Maya app.
Maya’s support of QR Ph and Paleng-QR is part of its integrated ecosystem approach, unmatched by any bank or e-wallet in the country.
Launched in August 2022, the Paleng-QR Ph program aims to build the digital payments ecosystem in the country by promoting cashless payments in public markets and local transportation, particularly tricycles.