LAND BANK of the Philippines had equipped Iloilo City’s public market store owners with a digital payment, as part of the government's commitment to make cashless transactions more accessible.

According to the state bank, the market store owners had adopted to the use ot of the Quick Response (QR) technology.

The bank said that the Paleng-QR PH Plus program, led by the Bangko Sentral ng Pilipinas and the Department of the Interior and Local Government, is aimed to promote the use of QR PH, which is the national standard for electronic payments, through QR codes.

LandBank's active participation in the Paleng-QR PH Plus program nationwide extends beyond Iloilo City.

According to the bank, they employed such measure since August 2022, and had facilitated on-the-spot account openings for market vendors, customers, and public transport drivers nationwide.

"LandBank is leveraging the transformative power of digitalization to advance cashless transactions across local markets nationwide. In partnership with the [Bangko Sentral ng Pilipinas] and [the Department of the Interior and Local Government], we are empowering store owners like Jasmin, as we continue to promote financial freedom for all," LandBank president and CEO Lynette Ortiz said.