Se. Sonny Angara, the bill’s author, took note of the growth of digital payments in the Philippines at a rate of 27% to 30%, which is higher than the 25% average of emerging Asian countries, but is still just one percent by volume of the estimated 2.5 billion payments made per month.
Tag: QR code
Gokongwei-owned Robinsons Bank has introduced its RBank Biz Portal and RBank QuickR QR Code capability to enable contactless transactions among local buyers and sellers.
PayMaya is offering transport operators and their drivers QR scan-to-pay capabilities, which will also give them access to a digital financial account that they can use for transactions such as bills payments, airtime load reloading, and sending money to friends and family.
Through the new PayMaya Negosyo app available for Android devices, MSMEs can accept QR and other forms of digital payments using their smartphones and even if they don’t have an e-commerce website.
A lawmaker said the ancient manual sign-up method would be burdensome on both the drivers and commuters, aside from exposing them to identity thieves, stalkers, and other privacy violators.
With most Filipinos staying at home because of the enhanced community quarantine, many are turning to online donations as a way of helping those severely affected by the Covid-19 outbreak.
QR PH is available for person-to-person (P2P) fund transfers upon launch but will soon be expanded for merchant QR payments.
The EGov Pay and National QR Code Standard are in line with the BSP and the payments industry’s goal to shift to a cash-light Philippine economy.