The BSP continues to spearhead digitalization initiatives that serve as financial lifelines to MSMEs [micro, small, and medium enterprises] and the microfinance sector. We want to ensure that every microentrepreneur has the means to flourish in the new digital economy.
Through Paleng-QR Ph, a joint initiative of the BSP and the Department of the Interior and Local Government, customers can transact through digital payments in some of the most common transaction points for Filipinos - community markets and local transport. Just last week, we launched the Paleng-QR Ph Program in Davao City.