Maya, BSP, DILG initiate Paleng-QR Ph Plus launch in Pasig City

Maya is stepping up its efforts to promote digital retail payments, starting in Pasig City.

Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla and Pasig City Mayor Victor Ma. Regis “Vico” Sotto launched the Paleng-QR Plus launch today at the Pasig Mega Market.

BSP Governor Felipe Medalla stated that the push to encourage QR payments helps businesses to better access advanced financial services by creating a digital footprint. “As you remit payments, the payments themselves generate a new set of data that can be used to replace the primitive ways of lending which are based on collateral,” he said.

“QR Ph greatly simplifies retail payments, making it easier for consumers and merchants to embrace digital for everyday transactions. With Paleng-QR, we’re bringing QR Ph to the heart of our communities – our public markets. We are proud to support the program’s rollout in Pasig City, one of the most digital-forward local governments in the country,” said Shailesh Baidwan, Maya Group President.

“The rollout of QR Ph Plus will benefit our economy. It will help fight against counterfeit money, make giving and receiving change more accurate, and prevent losing coins,” Pasig City Mayor Vico Sotto said in Filipino.

In the nationwide rollout of Paleng-QR Ph, which included the cities of Baguio, Davao, Tagbilaran, Naga, and Lapu-Lapu, Maya has led the fintech and banking industry.

Building the digital ecosystem
For thousands of local businesses in the city, from big malls to small shop owners, Maya already powers the acceptance of digital payments. It also has hundreds of Maya Centers across the city’s 30 barangays where consumers can cash in and cash out for free. As part of its effort to strengthen the cash-lite initiatives of the local government, Maya is supporting Pasig City’s launch of Paleng-QR Ph.

Joining Maya’s Paleng-QR Ph rollout is PLDT’s wireless unit Smart Communications. Smart has boosted the city’s network to provide the fast and reliable connectivity needs of Pasigeno merchants, tricycle drivers, and consumers.

As an ecosystem leader, Maya is the first fintech company to roll out QR Ph for both person-to-person (P2M) and person-to-merchant (P2M) payments. Maya QR can send and receive payments from any QR-compliant e-wallet or bank app.

Consumers can take advantage of the QR Ph interoperability through Maya’s superior omnichannel touchpoints, which enables non-Maya app users to transact with merchants using Maya QR Standees, Maya Terminal point-of-sale devices, and online checkout via Pay with Maya.

Today, Maya has enabled over 800,000 QR Ph Maya merchants in 96% of the country’s cities and municipalities.

All-In-One Banking and Money Platform
Maya is leading the charge towards establishing more Paleng-QR Ph-ready local governments as the initiative enables consumers and micro-enterprises to access more advanced banking services powered by the digital bank.

Consumers and MSMEs can build their financial footprint by regularly doing QR Ph transactions. This footprint is important to access Maya’s innovational and life-enhancing financial services such as its high-interest deposit account and instant credit inside the Maya app.

Maya supports QR Ph and Paleng-QR as part of its integrated ecosystem approach, which is unmatched by any bank or e-wallet in the country.

Launched in August 2022, the Paleng-QR Ph program aims to build the digital payments ecosystem in the country by promoting cashless payments in public markets and local transportation, particularly tricycles.