TACLOBAN CITY – Borongan City has become the first city in Eastern Visayas to implement cashless transactions among market vendors and tricycle drivers, enhancing payment speed, security, and convenience for both consumers and service providers.
This milestone was achieved through the launch of the PalengQR PH Plus program on March 19, 2025, an initiative by the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) aimed at promoting financial inclusion and empowering small businesses with secure and efficient digital payment solutions.
Based on BSP records, as of February 22, 2025, 169 local government units (LGUs) across the Philippines are implementing or preparing to roll out PalengQR PH Plus. Of these, 30 LGUs are in the Visayas.
Borongan City Mayor Jose Ivan Dayan Agda welcomed the initiative, emphasizing that the BSP provided the program to the city free of charge.
“It’s a game changer for our entrepreneurs. They can now track their sales and inventories more efficiently while eliminating pilferage, which could lead to better management and higher profits,” Mayor Agda said in a phone interview on March 21.
The mayor also highlighted the broader impact of cashless transactions, benefiting not just vendors and tricycle drivers but also everyday consumers who will experience seamless and secure payments.
He further disclosed that the cashless system would soon be expanded to other small entrepreneurs, including street food vendors such as those selling barbecue.
Currently, 200 market vendors in Borongan have already enrolled in the program, marking a significant step toward digital transformation in the city.
The move aligns with Borongan’s vision of becoming a “smart city,” where digital and online transactions play a central role in commerce and governance.
During the launch, BSP Tacloban Branch Area Director Victorio Tingcang III outlined the key advantages of the PalengQR PH Plus system, which facilitates secure and efficient transactions using QR codes.
“We no longer need to carry physical money because we can now pay the exact amount using QR PH. This helps prevent virus transmission from handling cash and protects people from counterfeit bills. QR PH is an efficient system that also saves time and transportation costs since transactions can be completed remotely via mobile phones,” Tingcang explained.
The program reduces reliance on cash transactions while enhancing financial security for small businesses, market vendors, and tricycle drivers.
To encourage participation, financial service providers such as GCash, Maya, BanKo by BPI, Landbank, and Chinabank set up on-site booths during the launch to assist vendors and transport operators in setting up digital wallets and accessing cashless payment options immediately.
PalengQR PH Plus is part of BSP’s broader initiative to promote financial inclusion and digitalization across the Philippines.
Launched in 2022, the program enables businesses, vendors, and transport operators to accept digital payments via QR codes, which customers can scan using mobile wallets and online banking apps.
Among the key benefits of the program are enhanced security, reduces risks of theft and counterfeit money;convenience as it speeds up transactions and eliminates the need for exact change; financial inclusion as it expands digital payment access to small businesses and informal workers; and business growth, help boosts economic activity by streamlining payments.
(JOEY A. GABIETA/ROEL T. AMAZONA)
