The Department of Trade and Industry (DTI) Region 2, in partnership with the Bangko Sentral ng Pilipinas (BSP), hosted a comprehensive orientation on the ๐—ฃ๐—ฎ๐—น๐—ฒ๐—ป๐—ด-๐—ค๐—ฅ ๐—ฃ๐—ฟ๐—ผ๐—ด๐—ฟ๐—ฎ๐—บ on 1 March 2024 at the DTI R2 Negosyo Center Hall, Tuguegarao City, Cagayan, and via Zoom.

The said program was a joint initiative   between the BSP and the Department of the Interior and Local Government (DILG) that aimed to advance the digitization of payment transactions across public markets, Public Utility Vehicles (PUVs), and business establishments by providing a secure and efficient payment method.

DTI Region 2, in its objective of making Micro, Small, and Medium Enterprises digital, sought to join BSP and DILG in advocating Paleng-QR in various cities and municipalities across the region. As an initial step, the DTI R2 organized the orientation for its regional and provincial Consumer Protection Division (CPD) personnel to have a thorough knowledge of the project to effectively engage stakeholders and ensure successful adoption and implementation.

Ms. Ma. Elena Madriago, Bank Officer IV of the BSP North Luzon Regional Office, served as the speaker for the event. Her insightful presentation delved into the objectives of the National Strategy for Financial Inclusion 2022-2028, provided a comprehensive overview of the Paleng-QR program, and outlined key conditions necessary for its successful integration into existing systems.

More so, the participants actively engaged in discussions surrounding the practical implications of adopting digital payment technologies, underscoring the transformative potential of the Paleng-QR program in fostering financial inclusion and economic development regionwide.

The orientation on Paleng-QR reaffirms DTI’s commitment to promoting financial inclusion and modernizing payment systems in line with national strategies, as it represents a significant step towards realizing the vision of a digitally inclusive society empowered by secure and efficient payment methods. โ™ฆ

Date of release: 06 March 2024