qr code, quick response code, scanning

Small businesses benefitting from QR payment system, says BSP

Filipino entrepreneurs who have adopted electronic payment systems are now even more productive, efficient and competitive, thanks to the new quick response (QR) code system that makes person-to-merchant transactions easier. In a statement, the Bangko Sentral ng Pilipinas (BSP) further urged consumers, payment service providers and merchants, including micro, small and medium enterprises, to avail…

qr code, quick response code, scanning

Payments via BSP-backed QR code standard surged amid pandemic

Retail financial transactions executed through the central bank-backed national quick reaction (QR) code standard have increased dramatically in recent months as the pandemic pushed more people toward contactless payment schemes, according to the central bank. In an online briefing, Bangko Sentral ng Pilipinas Governor Benjamin Diokno said person-to-person payments using the “QR Ph” system —…