THE Lapu-Lapu City Government is set to introduce cashless transactions to business establishments and transportation sectors in the city on February 17, 2023.

The move is in partnership with the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) as part of the implementation on the Paleng-QR PH Program, which was adopted by the City Government through Ordinance 16-042-2022.

According to BSP’s website, the program aims to build digital payments ecosystem in the country by promoting cashless payments in public markets and local transportation, particularly tricycles.

Registration of merchants and stakeholders in coordination with financial service providers will happen during the launch of the program.

The service providers include banks and electronic money issuers such as GCash, PayMaya, and StarPay.

Under Lapu-Lapu City’s approved ordinance, business establishments, including market vendors, community shopkeepers, and tricycles are mandated to maintain and make available to their patrons, customers, buyer, passengers and clients the option of paying through digital or alternative mode of payment.

Authored by City Councilor Annabeth Cuizon and co-authored by Councilor Climaco Tatoy Jr., the ordinance, however, clarified that nothing prohibits the payment in cash when chosen by the clients.

Prior to the program launch, the City Government will conduct an information drive and encourage financial literacy market sellers and public transportation drivers about the initiative. (MKG)