Central Banking

Philippines sets ‘P2M’ QR payments in motion

Central Bank of the Philippines
Central Bank of the Philippines
Patrick Roque

The Philippines has added a person-to-merchant (P2M) function to its national QR code payment system, as its central bank vows to boost the use of digital payments.

The function, which allows consumers to make cashless payments to businesses by using unified barcodes based on a national standard, regardless of the bank used, fully went live on October 12.

Filipinos could already perform person-to-person (P2P) transactions by scanning barcodes after the national QR code standard, known as QR Ph

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