Maya has just completed a pilot launch of Paleng-QR Ph in Baguio City in an effort to accelerate QR Ph adoption while collaborating with the Bangko Sentral ng Pilipinas (BSP) and the Department of Interior and Local Government (DILG).
The Paleng-QR Ph Program aims to “digitalize community transactions, beginning with public markets and local transportation.”
It also allows vendors and tricycle drivers to accept digital payments via QR Ph, the national QR payment standard. Maya’s QR codes are QR Ph-compliant and can be used to scan any QR Ph-powered transaction.
To kick off the program, the pilot launch ceremony was held in Malcom Square, Baguio City, with BSP Governor Felipe Medalla and Baguio City Mayor Benjamin Magalong in attendance.
Furthermore, prior to the launch of Paleng-QR Ph, Maya had already been assisting merchants in Baguio City with the QR Ph-enabled Maya QR, including market vendors, public utility drivers, pasalubong centers, and others.
“Public markets are the vibrant hubs of local economies, connecting local and regional food producers, businesses, and transport providers to consumers. Creating the ‘digi-palengke’ experience with QR Ph and Maya’s all-in-one money platform will accelerate digital adoption and financial inclusion at the grassroots level,” “We fully support the Paleng-QR Ph program of the BSP and DILG, starting with this pilot with the Baguio City local government,” – Orlando B. Vea, PayMaya CEO-founder and Maya Bank co-founder.
Maya has also taken the lead in assisting local governments in developing their “digi-palengke” through the LGUs Embracing and Accelerating Digitalization (LEAD) program.
The Marulas Public Market in Valenzuela City, the Antipolo City Public Market, and the Divisoria street stalls in Manila City have all adopted this practice.
Maya has adopted the country’s QR Ph standard in its digital payments ecosystem with over 50 million users who can use Maya to send or accept QR Ph P2P payments since 2019, when it first adopted QR Ph person-to-person (P2P) payments and person-to-merchant (P2M) payments in 2021.
Non-Maya users can also pay at more than 700,000 QRPh-enabled Maya merchant touchpoints across the country.