Local Government in Bislig City Promotes Cashless Payments in Public Markets
The Bangko Sentral ng Pilipinas (BSP) has recognised the local government of Bislig City for its efforts in promoting digital transactions through the Paleng-QR Ph program.
During a recent regional meeting, Bislig City officials shared strategies used to implement cashless payments in public markets and the local transport sector.
This initiative encourages the use of QR codes for daily transactions. It is also a joint project between the BSP and the Department of the Interior and Local Government (DILG).
In Bislig, the program has been formalised through Ordinance No. 2024-19, which mandates that business establishments and transport operators provide digital payment options.
The local government offers a 2% business tax discount to participating establishments to encourage people to join the program. Market tenants receive a 1% tax discount as well as a 1% reduction in their rental fees.
Adopting digital payments offers several practical advantages, such as faster transaction times and reduced risks associated with carrying physical cash.
Officials noted that these systems help vendors and buyers avoid issues like shortchanging and the circulation of counterfeit bills.
To support the infrastructure, the local government has partnered with the Department of Information and Communications Technology (DICT) to provide Wi-Fi access in public market areas.
For the transport sector, the city’s Traffic Management Group monitors tricycle drivers to ensure QR codes are visible and available for passengers.
The city also collaborates with financial service providers like GCash to conduct training for market vendors and small shop owners.
Rose Lee Cancio, Bislig’s ICT Head, stated that the program is a key component of the city’s vision to become a smart city.
Featured image by the Philippine Information Agency (PIA).
The post Local Government in Bislig City Promotes Cashless Payments in Public Markets appeared first on Fintech News Philippines.
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