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June 24, 2024

BSP collaborates with DICT to address internet connectivity challenges in PalengQR PH rollout

The Bangko Sentral ng Pilipinas (BSP) is partnering with the Department of Information and Communications Technology (DICT) to tackle the issue of limited internet connectivity in certain areas of the country, hindering the implementation of the PalengQR PH program.

Bankero and BSP Deputy Governor Bernadette Romulo-Puyat highlighted the lack of internet access as a major hurdle faced by local governments in launching the initiative, and the BSP seeks assistance from the DICT to address this concern.

The PalengQR PH program promotes digital payments among market vendors, community shopkeepers, and local transportation, leveraging the QR Ph initiative for secure and convenient transactions.

While various local government units express interest in implementing the program, many struggle with poor internet signals and slow speeds, hindering their participation.

The BSP aims to monitor the initial rollout areas before expanding the program to additional cities nationwide, as it continues to advocate for digitalization through the use of QR technology.