Union Bank of the Philippines (UnionBank) threw its support to the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government’s (DILG) “Paleng-QRPH”, a joint program of the two government agencies, recently launched at the Malcolm Square in Baguio City.
In an effort to contribute to the strengthening of the country’s digital payments ecosystem, BSP and DILG collaborated to create“Paleng-QRPH.”This aims to promote cashless transactions in public markets and local transportation.Targeted are not only customers and passengers, but more so the market vendors and drivers of public utility vehicles such as tricycles, by making the cashless payment more accessible to them as they transact with customers on a day-to-day basis.
UnionBank enables QRPH transactions via person-to-person and person-to-merchant. The Bank utilizes its superior digital capabilities to simplify the digital payments process between individuals.In the process, UnionBank allows users to enjoy cashless transactions that are easy, secure, and real-time, anytime and anywhere.
A team from UnionBank travelled to Baguio City to participate during the “Paleng-QRPH” launch.Representatives were deployed to booths to assist and provide support to individuals who are interested to learn more about the program;and those who wished to open an online account for the first time; among others.
“The Paleng-QRPH program of the BSP and DILG is a perfect example of multiple stakeholders working together to promote financial inclusion in the country,” said UnionBank SME and Micropreneurs Segment Head Jaypee Soliman. “For us at UnionBank, we know how essential collaboration and co-creation are in achieving a common goal, thus, we will continue to back up measures like this.”
As an acknowledged leader of digital initiatives in the country, UnionBank has been very supportive of the government’s various endeavors to help the country transition to the digital economy. This is another proof of the Bank’s “Tech-Up Pilipinas” advocacy,to enable inclusive prosperity by democratizing digital services, improving Filipinos’ digital literacy, and creating an environment that is conducive to digital innovation.