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Screengrab from BSP Facebook page MANILA - A bank executive has cited the Bangko Sentral ng Pilipinas' (BSP) payment system using the quick response (QR) code as a catalyst to further boost digital payments in the country. In a virtual briefing on Wednesday, Asia United Bank (AUB) executive vice president Wilfredo Rodriguez Jr. said the interoperability of the codes under the QR PH program, which uses QR technology in financial transactions, provides great potential for electronic payments. He said the bank's app-based digital prepaid bank account product, Hello Money, will greatly benefit from the QR PH program, especially with the increase in the merchants that account holders can easily do transactions with. "We really see a lot of potential for these QR payments. We have onboarded a lot of merchants and definitely, coupled with the QR PH interoperable QR PH QR codes, we definitely see more digital payments." he added. QR PH is among the programs of the central ban

Wilfredo rodriguez jrBangko sentralAsia united bankWilfredo rodriguezHello moneyScreengrab from bsp facebook page manilaa bank executive has cited the bangko sentral ng pilipinas 39 payment system using quick response qr code asa catalyst to further boost digital payments in country ina virtual briefing on wednesdaySia united bank aub executive vice president wilfredo rodriguez jr said the interoperability of codes under qr ph programHich uses qr technology in financial transactionsRovides great potential for electronic payments he said the bank 39s app based digital prepaid account productHello moneyIll greatly benefit from the qr ph programSpecially with the increase in merchants that account holders can easily do transactions quot we really seea lot of potential for these qr payments have onboardeda and definitelyOupled with the qr ph interoperable codesE definitely see more digital payments quot he added qr ph is among the programs of central bank eyed to increase share in total financial transactions country bsp recently launched person merchant p2m payment facilityN electronic payment system that allows buyers to pay even small value transactions such as jeepney or tricycle fares and payments of goods services microMall and medium enterprises msmes at no cost to the buyer this payment system works with scanning qr code of seller or service provider pay for an item ora central bank aims increase share digital payments about 20 percent total financial transactions in country by 2020