Maya and Davao City Gov't Launch 'digi-palengke' in Mindanao

Today in Davao City's largest Bankerohan Public Market launched the Paleng-QR PH initiative in partnership with Maya and Davao City Government with the support of the Bangko Sentral ng Pilipinas (BSP) and the Department of Interior and Local Government (DILG). Also PLDT and Smart Communications are supporting the acceleration of "digi-palengke' thrust in Mindanao. 

At the event today, both BSP Governor Felipe Medalla and Davao City Mayor Sebastian Duterte were present to lead ceremonies held at the Bankerohan market. 

The goal of this Paleng-QR PH initiative is to digitize transactions starting with the public markets and local transportation. This will enable local vendors as well as tricycle drivers to start accepting digital payments from consumers and commuters regardless of their e-wallet bank account via QR Ph, which is the national standard for QR payment. Maya's QR codes are QR Ph-compliant and the Maya app can scan any QR Ph-powered transactions. 

Moreover, Maya is the very first digital financial services platform to adopt QR Ph. With this, more than 52 million users can enjoy a seamless experience using Maya's consumer platforms that can send and accept P2P payments from other QR Ph-participating financial institutions. 

Using another wallet or don't have a Maya account yet? That's no problem at all. You can still pay at over 800,000 QR Ph-enabled Maya merchants, which are present in 96% of the toral cities and municipalities. 

What is the QR Ph initiative, you ask. This is a BSP's project that is part of the overall financial services transformation roadmap of the Philippines. This aims to raise Filipino's trust in digital financial services, as consumers and enterprises will get used to sending and receiving cashless payments for everyday transactions. 

Maya's full support to QR Ph is in line with the BSP's thrust to increase the share of Filipino adults with a financial account from 56% in 2021 to 70% in 2023 and grow the volume of digital payments from 20% in 2021 to 50% by next year.

Additionally, Maya has made it easier for consumers to spend, save, get credit, and invest in crypto just by using its top-rated all-in-one app. Its merchant partners, meanwhile, can open a business deposit account and access revolving credit lines leveraging their payment transactions.