Bankerohan vendors welcome PalengQR PH

Photo by Krizzy S. Daugdaug
Photo by Krizzy S. Daugdaug

VENDORS at the Bangkerohan Public Market welcomed the launch of the PalengQR PH, a project of the Bangko Sentral ng Pilipinas (BSP) and the Department of Interior and Local Government (DILG) that seeks to promote digital or cashless transactions among the public.

PalengQR PH is a digital platform where informal vendors and drivers in the city can access and accept digital payments from consumers.

JR, a vendor at Bangkerohan Public Market, welcomes the convenience of having a digital platform for financial transactions. He pointed out how most consumers now have digital wallets.

“Mas nindot man gud siya kay walay charge every transaction, dili parehas sa uban nga makuhaan imuhang kwarta (What’s great about this is they are not charging you for each transaction),” Elvie said

She added that she no longer needs to visit the bank if she needs to deposit her money or even pay her bills.

However, one of the vendors is hesitant about the PalengQR PH saying that instead of making things more convenient, it can still be a hassle.

“Kay need man gud namo og cash, kay gusto mi mangumpra nga karun dayon (We need cash to buy wholesale),” San said. She said some of their suppliers do not accept GCash transactions and prefer payment through cash.

San added that they will still need to withdraw funds from their digital wallet.

She is also worried about scams online.

“Basig ma-scam ta, unya lisod baya ang kwarta pangitaon, nauso baya na tong una, pero unta dili gyud kay dili lalim mangitag trabaho aron mangwarta (Someone might scam me. It is not easy to look for money),” San said.

Meanwhile, a representative of Gcash said they have upgraded the security of their system to ensure the safety of their client's funds.

“Marami tayong security features, may OTP (One Time Password), Mobile Personal Identification Number (MPIN) so secured ‘yong fund nila (We have a lot of security features like OTP, MPIN to secure their funds),” Ren-Ren Reyes, Chief Commercial Officer of Gcash, said.

He added that they are not sending links through email or text messages. He reminded users not to give their MPIN and OTP to other people as all of their transactions and notifications happen on their app.

Despite the concerns, Elvie said she’s still confident to use the app and supports the government's program.

“Dili ko mahadlok kay naa man kay kaadtoan nga bangko, kay pwede nimo i-claim or report nganong naing-ani imuhang kwarta (I am not afraid because you can always file a complaint at the bank if there are any issues with your funds),” Elvie said.

PalengQR PH is a project of BSP in collaboration with DILG and in partnership with digital wallet apps and banks like Gcash, Maya, AUB United Bank, Landbank, RCBC, and other major banks. KSD

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