Davao City to Expand PalengQr to Other Public Markets

The City Economic Enterprises Office (CEEO) of Davao City has expanded the digital payment platform PalengQR to the Toril Public Market, which is considered a major drop-off point for agricultural items. This comes after the pilot activities in the largest and oldest public markets received good feedback.

The local government likewise declared that it would release the digital payment platform to the Agdao Public Market this February according to City Economic Enterprises Officer-in-Charge Maximo P. Macalipes Jr.

Macalipes mentioned that the onboarding activities of the digital payment platforms last November at the Bankerohan Public Market were promptly adopted by the fruit and vegetable sellers and the department store.

To onboard the vendors, would require registration to eligible electronic money issuers and banks. For Macalipes, the program is rooted in the national government’s goal of creating digitized financial platforms for micro-entrepreneurs all around the country.

In the recruitment activity, financial service providers and electronic money issuers set up booths and aided vendors that have yet to open bank accounts. This onboarding program is done in collaboration with the Department of the Interior and Local Government and the Bangko Sentral ng Pilipinas.

The City Economic Enterprises Office gathered over ₱177.7 million last 2022, which is a 26.5% increase from 2021’s figures of ₱140.4 million. However, the collection of last year hit only 88.18% of the CEEO’s collection target.

“We were just short of P6.6 million to be at par with the 2019 income collection. Thus, we are bouncing back to pre-pandemic conditions,” said Macalipes. He likewise adds that they will strive to reach the 2022 collection target.

Source: Business Mirror