INQUIRER FILES
TACLOBAN CITY — Borongan City in Eastern Samar has become the first in Eastern Visayas to implement cashless transactions among market vendors and tricycle drivers.
The launch of the PalengQR PH Plus program on March 19, an initiative of the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG), makes payments faster, safer, and more convenient for both consumers and service providers.
The program also aims to promote financial inclusion by providing small businesses and transport operators access to secure and efficient digital payment solutions.
Mayor Jose Ivan Dayan Agda welcomed the program, emphasizing that it was provided to Borongan free of charge by the BSP.
“It’s a game changer for our entrepreneurs. They can now track their sales and inventories more efficiently, while also eliminating pilferage. This could lead to better management and higher profits,” Agda said in a phone interview on Friday, March 21.
“This system will benefit not just vendors and tricycle drivers but also everyday consumers, allowing them to enjoy the ease and security of cashless transactions,” he added.
Agda said the cashless system would also be extended to other small entrepreneurs in the city, including street food vendors such as those selling barbecue.
As of now, about 200 market vendors in Borongan have signed up for the program, marking a significant step toward digital transformation in the city.
The cashless transactions align with Borongan City’s goal of becoming a “smart city” where most financial transactions are conducted digitally or online.
During the launch, Victorio Tingcang III, BSP Tacloban branch area director, highlighted the key benefits of PalengQR PH Plus.
“We no longer need to carry physical money because we can now pay the exact amount using QR PH. This helps prevent virus transmission from handling cash and protects people from counterfeit bills. QR PH is an efficient system that saves time and transportation costs since transactions can be completed remotely via mobile phones,” Tingcang explained.
The PalengQR PH Plus system enables small businesses, market vendors, and tricycle drivers to integrate digital payments into daily operations, reducing reliance on cash transactions and improving financial security.
To encourage participation, financial service providers such as GCash, Maya, BanKo by BPI, Landbank, and Chinabank set up on-site booths during the program launch.
These institutions assisted attendees in creating digital wallets, allowing them to take advantage of cashless payment options immediately.
The PalengQR PH Plus program is part of BSP’s broader initiative to promote financial inclusion and digitalization in the country.
Launched in 2022 in partnership with the DILG, the system enables businesses, vendors, and transport operators to accept digital payments via QR codes, which customers can scan using mobile wallets and online banking apps.
Among the key benefits of the program are enhanced security as it reduces risks of theft and counterfeit money; convenience as it speeds up transactions and eliminates the need for exact change; financial inclusion as it expands digital payment access to small businesses and informal workers; and business growth as it boosts economic activity by streamlining payments.
BSP records show that there are 169 local governments across the Philippines implementing or preparing to roll out PalengQR PH Plus as of Feb. 22, 2025.
Of the number, 30 localities are in the Visayas.