Maya accelerates "digi-palengke" transition in Davao City

Maya is accelerating its efforts, with the help of BSP and DILG, in transforming Davao City's Bankerohan Public Market into a "digi-palengke".

Maya pushes the Paleng-QR PH initiative in Davao City

Maya, BSP, and DILG launched Paleng-QR PH initiative

The Department of Interior and Local Government (DILG) and Bangko Sentral ng Pilipinas (BSP) are supporting Maya and the Davao City Government, which is leading the "digi-palengke" program. PLDT and Smart Communications are other supporters of the launch.

The Paleng-QR PH program aspires to digitize transactions beginning with local transportation and open markets. The program enables merchants and tricycle drivers to receive digital payments from clients via QR Ph, the national standard for QR payment, from anyone, regardless of their e-wallet or bank accounts. The software from Maya can scan any transaction powered by QR Ph, and its QR codes are QR Ph-compliant.

The Maya LGUs Embracing and Accelerating Digitalization (L.E.A.D.) program, which provides local governments like Davao City with business-in-a-box payment acceptance solutions and disbursement tools in order to facilitate quicker public service delivery, includes the creation of digi-palengkes.

More than 52 million customers can benefit from a smooth experience utilizing Maya's consumer platforms, which can transmit and accept P2P payments from other financial institutions that are participating in QR Ph. Maya is the first digital financial services platform to implement QR Ph.

Over 800,000 Maya shops with QR Ph capabilities are accessible to non-Maya users, and they are distributed throughout 96 percent of all cities and municipalities.

The QR Ph program of the BSP is a component of the Philippines' comprehensive financial services modernization plan. As consumers and businesses become accustomed to sending and receiving cashless payments for regular transactions, it hopes to increase Filipinos' faith in digital financial services.

Maya's unwavering support for QR Ph aligns with the BSP's objective to raise the percentage of adult Filipinos with bank accounts from 56 percent in 2021 to 70 percent in 2023 and to boost the volume of digital payments from 20 percent in 2021 to 50 percent by the following year.

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