Maya is transforming the Davao City Bankerohan Public Market with the launch of the Paleng-QR PH initiative in Mindanao accelerating the Digi-Palengke program.
Digi-Palengke Program
Spearheading the “digi-palengke” program is the Davao City Government with the support of the Bangko Sentral ng Pilipinas (BSP) and the Department of Interior and Local Government (DILG). Additionally, PLDT and Smart Communication are also supporting the launch.
“By promoting the interoperable QR PH national standard codes, Paleng-QR PH creates a simple but more powerful digital finance experience at the local community level. At Maya, we fully support Davao City’s vision to build a stronger digital ecosystem. Basta QR PH, pwede kami sa Maya.”
Orlando Vea, Maya CEO and Founder and Maya Bank Co-Founder.
The Paleng-QR Ph program aims to digitalize transactions starting with public markets and local transportation. The program enables vendors and tricycle drivers to accept digital payments from customers via QR Ph, the national standard for QR payment.
Creating digi-palengkes is part of Maya’s own LGUs Embracing and Accelerating Digitalization (LEAD). Through the program, Maya equips local governments like Davao City with payment acceptance solutions and disbursement tools for faster public service delivery.
Maya – QR Ph
Maya is the first digital financial services platform to adopt QR Ph. More than 52 million users enjoy a seamless experience using Maya’s consumer platforms that can send and accept P2P payments from other QR Ph-participating financial institutions.
Meanwhile, non-Maya users can pay at over 800,000 QR Ph-enabled Maya merchants present in 96% of the total cities and municipalities.
The QR Ph initiative of the BSP is part of the overall financial services transformation roadmap of the Philippines. It aims to raise Filipino’s trust in digital financial services.
Maya’s full support of QR Ph is in line with the BSP’s effort to increase the share of Filipino adults with a financial account from 56% in 2021 to 70% in 2023. Additionally, it aims to grow the volume of digital payments from 20% in 2021 to 50% by next year.
“Digital payment is the entry point of Filipinos to the financial system. As they build their financial footprint, consumers and MSMEs can access more progressive digital banking services offered by Maya,” said Vea.
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