BSP, DILG, join forces with GCash in rollout of ‘Paleng-QR Ph plus’ in Lapu-Lapu City
Driven by its shared vision to make the Philippines a more financially inclusive nation, the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) have expanded the rollout of the ‘Paleng-QR Ph plus’ initiative to Lapu-Lapu City, in collaboration with GCash, the country’s leading mobile wallet.
Under the Paleng-QR Ph Plus initiative, market vendors, and tricycle drivers can easily transact with their customers through GCash QR codes. With this, vendors, drivers and consumers are assured of a safer and more seamless cashless experience – ultimately boosting the growth of the digital ecosystem, especially in the grassroots economy.
"Now, merchants in Lapu-Lapu City as well as micro, small , and medium enterprises (MSMEs) are enjoined to display their GCash QR codes in their stores. This way, we are empowering our small vendors and drivers to accept cashless transactions, in line with our efforts to boost digitalization towards achieving our ultimate goal of financial inclusion," said Martha Sazon, chief executive officer of GCash.
In total, there are 375 zone market stalls and 440 vendors who have already been on-boarded for Paleng-QR Ph payment.
Boosting the initiative for massive digital payment adoption across the country, GCash, BSP, and DILG have been strengthening their partnership to expand the Paleng-QR rollout in Baguio City Public Market, Bankerohan Public Market in Davao City, Dao Public Market in Tagbilaran City, and the People’s Market in Naga City – all of which now accept GCash cashless payments using QR codes.
Over the years, GCash and the BSP have launched various initiatives and advocacy programs, especially during the pandemic granting innovative financial solutions as well as safe and convenient financial access to all Filipinos. Moreover, the strategic partnerships between GCash and BSP have helped in making consumers more financially capable and empowered, and have also helped micro, small, and medium enterprises (MSMEs), including start-ups and agriculture sector workers to grow their businesses and uplift their livelihood.
In line with the goal of the BSP to build a more cash-lite society, GCash remains to help the Philippines transition to a digital and financially inclusive country to make Filipino lives better every day.
The GCash app is available for free on Google Play or the App Store. For more information, visit https://www.gcash.com.
About Mynt
Mynt is the parent company of GCash, the #1 Finance Super App in the Philippines. It’s the first and only fintech company listed on the Philippine Stock Exchange under the “GCASH” ticker symbol. Through GCash, Mynt advances its vision of 'Finance for All' by making financial services more accessible to Filipinos. Mynt operates a portfolio of companies, including G-Xchange, Inc., the payments company responsible for the digital payments and electronic money activities in the GCash app, and Fuse Financing, Inc., the financing company for GCash that provides fair and digitally-enabled credit products and solutions.
Mynt, through its fintech operations, is a staunch supporter of the United Nations Sustainable Development Goals (SDGs), particularly focusing on safety & security, financial inclusion, diversity, equity, and inclusion, as well as taking urgent action to combat climate change and its impacts.
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
