Back in March, the Monetary Board of the Bangko Sentral ng Pilipinas (BSP) approved guidelines that help the full transition of all quick response (QR) code-enabled payments to the National QR Code or QR Ph.
BSP QR Ph Full Transition
Starting July 1, 2023, BSP-supervised financial institutions (BSFIs) acting as payment service providers (PSPs) and offering QR code-enable payments services should use and display QR Ph. This includes online and mobile apps as well as point-of-sale systems covering online and offline stores.
Non-QR Ph codes or proprietary QR codes after July 1, 2023 shall be disabled and will no longer be available to the public.
“With the active development of the industry in this space, it is timely for the BSP to ensure that QR-enabled payments are supported through the interoperable QR Ph standard. This way, PSPs and their clients would be able to fully realize the benefits brought by the convenience, speed, and ease of using QR Ph.”
Felipe M. Medalla, BSP Governor
Source: Gadget Pilipinas
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