MANILA, Philippines – Filipinos are increasingly using the so-called QR or “quick reaction” codes when paying for purchases and transferring money from one person to another—a sign that the country’s “cash-heavy” economy is well on its way to becoming “cash light.”
Governor Benjamin Diokno of the Bangko Sentral ng Pilipinas cited the latest data showing the rapid adoption of the newly launched unified QR Ph system, which is a major part of the regulator’s digitalization push.
“I am happy to report that the volume and value of QR Ph person-to-person payments in February this year also increased by 22 percent and 26 percent respectively, compared to the figure posted …
Keep on reading: QR code payments gaining traction among Filipinos, says BSP