ILOILO CITY – Ilonggos are encouraged to adopt cashless transactions following the rollout Monday of the "Paleng-QR Ph Plus," which promotes digital payments in public markets, public utility vehicles and other business establishments.

The payment system is a national initiative jointly spearheaded by the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG).

"Today's launch of the Paleng-QR Ph Plus program marks an important step in bringing digital financial services closer to every household and every negosyo [business] in Iloilo," Iloilo Vice Governor Nathalie Ann Debuque said in her message.

She said promoting the use of QR (quick response) code is a challenge since the province is large.

“There is a big digital divide, but we must do what we can because that is the way of the future," she said.

Debuque said they are ready to craft ordinances that will encourage the adoption of the QR Ph in Iloilo "to protect the interests of both small entrepreneurs and consumers."

"Through this initiative, ordinary market and transport transactions become faster, safer and more transparent. This is also a way to empower vendors, our drivers, and consumers alike," she said.

BSP Deputy Governor Bernadette Romulo-Puyat said with the Paleng-QR Ph Plus, consumer no longer have to bring cash. They only need to scan and enter the exact amount.

It is also safer for vendors or business owners because the payment goes directly to their accounts.

During the launch, staff of banks and financial service providers assisted in the opening of accounts.

Simultaneously, there was a financial education lecture on budgeting, avoiding scams and growing income.

The launch was also attended by BSP Monetary Board Member Benjamin Diokno, provincial legal officer Dennis Ventilacion, DILG-Iloilo Director Carmelo Orbista, and provincial Local Economic Development and Investment Promotion Center officer Aulynn Yue Sin.