DAVAO CITY - The city government has expanded the digitalization of payments in its public markets, helping microentrepreneurs achieve cashless transactions.
Davao City Economic Enterprises officer-in-charge Maximo Macalipes Jr. said the "PalengQR" program is currently "onboarding" the Toril district public market here.
A similar scheme is also set to roll out in Agdao district public market this month.
"Onboarding means the registration of merchants and stakeholders to eligible banks and electronic money issuers," Macalipes explained.
Launched in November last year, the first-ever cashless payment program in Mindanao started at the Bankerohan public market in this city, in partnership with the Bangko Sentral ng Pilipinas and the Department of the Interior and Local Government.
"PalengQR PH" seeks to push for the acceptance of digital payments among market vendors, community shopkeepers, tricycle operators, and drivers in all cities and municipalities in the country.
Macalipes said the main goal is to roll out digitized financial platforms for microentrepreneurs across the country, helping them tap financial institutions otherwise would only be available to big retailers.
Financial service providers such as the Land Bank of the Philippines, Asia United Bank, Rizal Commercial Banking Corporation, and electronic money issuers GCash, PayMaya, and StarPay have set up booths to accommodate merchants who are yet to open bank accounts in each onboarding activity.
"We look forward to the expansion of the program across all our public markets," Macalipes said. (PNA)