The central bank of the Philippines to adopt National QR Code Standard for Payments

National QR Code Standard Philippines - Bangko Sentral ng Pilipinas

The Bangko Sentral ng Pilipinas has approved adopting the quick response code on a national scale. The Bangko Sentra ng Pilipinas (BSP), the central bank of the Philippines, recently announced that the monetary board approved adopting a National QR Code Standard for payments. The nationwide adoption of the quick response code is to ensure interoperability of QR-enabled financial and payment services. The BSP sees the value in QR codes for transferring money. QR technology has become the most convenient and cost-efficient method of transferring funds from one account to another,…

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