Home Public Square Bolstering digital transactions in PH through QR Ph

Bolstering digital transactions in PH through QR Ph

Bangko Sentral ng Pilipinas, led by Governor Benjamin Diokno (center) with RCBC President and CEO Eugene Acevedo (left) and UnionBank president and CEO Edwin Bautista (right) during the launching of QR Ph.

Bangko Sentral ng Pilipinas, led by Governor Benjamin Diokno, together with the Philippine Payments Management Inc. (PPMI), spearheaded the official launch of QR Ph, the Philippines’ national QR code standard for digital payments, at the BSP headquarters in Manila recently.

RCBC President and CEO Eugene Acevedo (left) and UnionBank president and CEO Edwin Bautista conducted a fund transfer transaction to the PayMaya account of BSP Governor Diokno by simply scanning the QR Ph code in his PayMaya app, the first e-wallet in the country to adopt the national QR code standard. PayMaya, RCBC and UnionBank, along with Landbank, AUB, and Chinabank, are among the first financial institutions to pilot QR Ph, allowing instant and seamless fund transfers among account holders as part of the government’s National Retail Payment System (NRPS) goals of raising the percentage of digital transactions in the country to 20 percent by 2020.


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