Legazpi City market adopts BSP-DILG digital payment tech

LEGAZPI CITY – Vendors at the Legazpi City Public Market are now ready to accept digital payments after the launch of the Paleng-QR (Quick Response) Ph Plus by the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) on Thursday.

In an interview, Alvin Bermido, BSP Legazpi area director, said the program aims to promote digital payment technology in the market, transportation, and businesses in the city.

"Paleng-QR Ph Plus serves as an alternative payment method to facilitate digital payments through the use of mobile applications. Legazpi City is the first in the province of Albay to have this, with Tabaco City to follow in the coming days with the support of local government units (LGUs)," he said.

Bermido also said the program aligns with President Ferdinand Marcos Jr.'s digitalization initiatives.

"This will provide an additional payment option for consumers, particularly for tourists who prefer cashless transactions during their visits. It will also enhance the digital financial ecosystem between consumers and micro, small, and medium enterprises in the city," he said.

He said before the launch of Paleng-QR Ph Plus, they launched a series of public information and awareness campaigns to ensure that market vendors were protected from potential scams.

"We are continuously reminding them not to believe or give their personal information to unknown individuals or numbers. This is part of our advocacy for financial literacy and education to expand public knowledge, preventing them from falling victim to scams," he said.

Also available was the "Piso Caravan," which involves replacing unfit and mutilated banknotes and coins.

Bermido urged the public to exchange their unfit currency for clean, fresh banknotes and coins.

"We also involve various banks as we promote Account Opening Day, aiming to reinforce BSP's advocacy for financial inclusion, ensuring that every Filipino has access to bank accounts. Keeping your money in banks is much safer and allows it to accumulate interest," he said.

Tess Roselo, a fruit vendor at the market, said the cashless payment initiative will protect them from counterfeit money.

"Some customers are also asking for online payments, especially at night. It's secure because the exact amount is paid, and we don't have to worry about finding change. We are also protected from fake money," she said. (PNA)