In a push for financial inclusion for Filipinos nationwide, Philippine fintech leader GCash has joined hands with the Bangko Sentral ng Pilipinas (BSP) and the Department of Interior and Local Government (DILG) in rolling out Paleng-QR Ph in Visayas.
Paleng-QR PH was launched by BSP and DILG in June to promote cashless QR transactions among market vendors, community shopkeepers, and tricycle drivers to build the country’s digital payments ecosystem.
During the Visayan leg of the GCash-hosted One With The Nation forum, representatives from both the private and public sectors agreed to work together in implementing the digital initiative.
The event gathered key officials from BSP, DILG, and Local Government Units (LGUs), as well as leaders from the business sector to discuss the future of digital financial services in a post-COVID landscape.
“We fully support Paleng-QR because we recognize that to get everyday Filipinos started on cashless transactions, the natural place to start is where they usually spend money – our palengkes and local transportation like tricycles. We positioned ourselves in these areas to enable more vendors and drivers to thrive through digital,” said GCash President and CEO Martha Sazon.
By using the GCash app, tricycle drivers and merchants can easily receive and transfer money securely and conveniently with just a few taps on their smartphone, saving them time and effort.
During the gathering, key LGUs in Visayas pledged their support for the implementation and adaptation of the Paleng-QR Ph program before Gregg Bacay, BSP Head of Regional Economic Affairs Staff.
“I will take charge of the service’s implementation in my city to the best of my abilities and throughout my term as mayor. I will work with financial service providers to ensure orderly and smooth transactions among residents and visitors in my city,” they promised.
The forum also included talks about the “Pillars for Digital Financial Inclusion” by GCash AVP and Head of Public Sector and Partnerships Cathlyn Dolor Pavia, and “Bridging the Digitalization Gap with Accessible Financial Services for All” by Fuse Lending Chief Finance Officer Gabby Lacuesta. GCash Chief Commercial Officer Oscar Enrico Reyes wrapped up the event.
With the vision of achieving “Finance for All,” GCash is constantly on the lookout for more opportunities in the regions to empower more Filipinos.
“By removing barriers through digital channels, we have made financial services easier to access and understand. Now, fishermen, palengke vendors, tricycle drivers, and street vendors already have GCash. We have definitely made progress. But there’s still so much more we can do. We need to all work together for a brighter, more financially-inclusive future for Filipinos,” added Sazon.
GCash works for a future where financial services are accessible to everyone such as the unbanked and underserved. With over 71 million users, it leads the way in ensuring that everyday Filipinos have opportunities for savings, loans, investments, and insurance, which were previously unavailable to them.