THE BANGKO Sentral ng Pilipinas (BSP) has partnered with the Department of Agriculture (DA) in the Cordillera region to onboard farmers and other agricultural players in the Paleng-QR Ph Plus program.
Under the BSP-DA Cordillera agreement signed on April 18 in Baguio City, the government-led digital payment program will be piloted to the farm sector.
The Cordillera Administrative Region, home of rice terraces listed as a UNESCO World Heritage Site, is a major producer of vegetables and various high-value crops.
The Paleng-QR Ph Plus program, which utilizes quick response (QR) technology, is intended to promote cashless transactions in public markets and local transportation.
BSP Deputy Governor Bernadette Romulo-Puyat said the central bank aims for a more widespread adoption of QR Ph among farmers, who play big roles in the agricultural and public markets supply chains.
DA-Cordillera Regional Executive Director Cameron P. Odsey said the collaboration with the central bank allows farmers to access digital services, making them more adept and responsive to modern technology.
“The MOA (memorandum of agreement) expands the scope of Paleng-QR Ph participants from Baguio City’s public market vendors, public transport drivers, and other merchants who joined the program in August last year, to now include the region’s agricultural supply chain players,” the BSP said.
The Paleng-QR Ph Plus program was jointly developed by the Philippine central bank and the Department of the Interior and Local Government.
It also seeks to onboard local government units to push for the acceptance of digital payments among market vendors, community shopkeepers, and tricycle operators and drivers in all cities and municipalities in the country. — Keisha B. Ta-asan