One of the Philippines’ leading e-wallet services, Maya (formerly Paymaya) is promoting the use of cashless transactions in public markets by transforming the Tagbilaran City Public Market in Bohol into a “digi-palengke”.
The new system is powered by the Paleng-QR initiative with the aim of making cashless transactions a whole lot easier in public markets across the country.
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Paleng-QR Ph initiative was started by the Bangko Sentral ng Pilipinas (BSP) and the Department of Interior and Local Government (DILG).
Starting in Tagbilaran City, the goal is to empower its local government to assist public market sellers and even tricycle drivers to accept cashless transactions as a mode of payment using QR Ph, which is the Philippines’ standard mode of QR payment.
QR Ph was first launched in 2019 as a person-to-person (P2P) money transfer and by 2021, it was available for person-to-merchant (P2M) payments. Since then, Maya has been one of the financial institutions to lead the charge in rolling out the QR Ph standard as they now have more than 800,000 merchant touchpoints that use the said QR Ph standard.
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Digi-palengkes is part of Maya’s LGUs project called LGUs Embracing and Accelerationg Digitalization (LEAD).