The Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) in collaboration with GCash, the country’s leading e-wallet, continue with their campaign to promote financial inclusion for all Filipinos with the recent roll-out of the ‘Paleng-QR Ph plus’ in Pasig City Mega Market, one of the biggest public wet markets in the country and the first in the National Capital Region.
Leading the launch were BSP Governor Felipe Medalla and Deputy Governor Bernadette Romulo Puyat, Pasig City Mayor Honorable Victor Ma. Regis Sotto,Honorable Vice Mayor Robert Vincent Jude Jaworski Jr. and the entire Pasig City council.
To facilitate a seamless implementation of the Paleng-QR Ph plus program, GCash set up a booth at the Pasig City Mega Market to assist in the onboarding of new merchants. Financial literacy sessions are also conducted for market vendors and topics include building the habit of cashless transactions in markets and availing of different wealth management options such as GSave, GInsure and GLoans using GCash.
With this, Pasigueños, from market vendors and tricycle drivers to consumers, now have access to a safer and more convenient cashless experience through GCash QR code. Currently, approximately 2,055 Pasig City market vendors have been on-boarded for the GCash QR payment acceptance, bringing an overall total of about 957,620 public market and MSMEs around the country already accepting GCash cashless payments using QR codes.
Ultimately, this sustaining initiative is driving the growth of the digital ecosystem in the country, especially in the grassroots economy. According to Leny, Meat Section president of Pasig City Mega Market, “Malaking tulong sa akin ang GCash sa aking negosyo dito sa palengke at sa aking araw araw na buhay.”
She also added, “Yung mga bayad na tinatanggap ko via GCash QR nagagamit ko na rin pang bayad ng bills at pang online shopping kahit na busy ako sa palengke. Higit sa lahat, nagagamit din ng aking buong pamilya lalo na ng aking mga anak na ginagamit din nila sa kanilang mga sariling negosyo o pang emergency.”
With a shared vision of a cash-lite society, GCash, BSP, and DILG have been working closely together to mount the Paleng-QR Ph plus in various cities and municipalities across the country. Now also accepting GCash cashless payments via QR codes are Baguio City Public Market, Bankerohan Public Market in Davao City, Dao Public Market in Tagbilaran City, Lapu Lapu City Public Market, and the People’s Market in Naga City.
Over the years, GCash and BSP have launched various financial solutions and advocacy programs making Filipinos’ everyday lives better. Moreover, their strategic partnership is helping consumers become more financially capable and empowered while enabling micro, small, and medium enterprises (MSMEs), including start-ups, to grow their businesses and uplift their livelihood.
About Mynt
Mynt is the first and only $5 billion unicorn in the Philippines. It's a leader in mobile financial services focused on accelerating financial inclusion through mobile money, financial services, and technology. Mynt operates two fintech companies: GXI, the mobile wallet operator of GCash — the #1 Finance App in the Philippines, and Fuse Lending, a tech-based lending company that gives Filipinos access to microloans and business loans.
About GCash
GCash is the Philippines’ #1 Finance App and Largest Cashless Ecosystem. Through the GCash App, users can easily purchase prepaid airtime; pay bills via partner billers nationwide; send and receive money anywhere in the Philippines, even to other bank accounts; purchase from over 6 million partner merchants and social sellers; and get access to savings, credit, loans, insurance and invest money, and so much more, all at the convenience of their smartphones. GCash’s mobile wallet operations are handled by G-Xchange, Inc. (GXI), a wholly-owned subsidiary of Mynt, the first and only duacorn in the Philippines.
Mynt and GCash are staunch supporters of the United Nations Sustainable Development Goals (SDGs), particularly UN SDGs 5,8,10, and 13, which focus on safety & security, financial inclusion, diversity, equity, and inclusion as well as taking urgent action to combat climate change and its impacts, respectively.
For more information, please contact:
Bruce Rodriguez, Head of Business Communications
Corporate Communications
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