MANILA - The Bangko Sentral ng Pilipinas on Friday said its headquarters in Manila is going cashless by equipping merchants with digital payment facilities through its partnership with financial technology firm PayMaya.
The partnership will provide 3,000 employees with electronic payment options such as using the PayMay app with QR code scanners or PayMaya cards, the BSP said.
"Having payment technologies such as PayMaya QR available in the central bank headquarters is a signal that the BSP is serious with its goal to have a cash-lite economy fueled by different cashless payment options within its own compound," the BSP said in a statement.
The BSP said it plans to increase cashless payments in the country to 20 percent from 1 percent by 2020.
On April 5, Visa and SM Retails Inc. also announced their partnership to offer cashless payment terminals in all SM malls and affiliate stores nationwide.