BY MARY JOY CAVAÑAS
ILOILO City – This southern city marks a significant advancement in its public market redevelopment through the introduction of cashless transactions in markets and local transport. The Paleng-QR Ph Plus program, enabling these digital payments, was launched yesterday at Iloilo Terminal Market, also known as “Super.”
Iloilo City, following Bacolod and Victorias cities in Negros Occidental, becomes the third local government in Western Visayas to adopt this innovative approach.
Mayor Jerry Treñas said “Paleng-QR not only digitizes payment processes for market vendors but also boosts economic growth.”
He emphasized the city’s progression towards becoming a digitally inclusive smart city, welcoming this transformative development.
The Bangko Sentral ng Pilipinas (BSP) and the Department of Interior and Local Government (DILG) jointly developed Paleng-QR Ph Plus.
The program allows market vendors and public transport drivers to accept payments via QR codes, offering a secure, convenient, and cashless purchase method. However, the city government’s Local Economic Enterprise Office led by Maricel Mabaquiao clarified that digital payments remain optional for vendors and drivers.
Recently, the Philippine Chamber of Commerce and Industry honored Iloilo City as the Most Business-Friendly Local Government Unit, recognizing its innovative governance practices in collaboration with the private sector.
Treñas sees this as acknowledgment of the city’s efforts in fostering a business-friendly environment.
Ongoing Market Redevelopment
The renovation of the two city public markets, the Super and the Iloilo Central Market, popularly known as “Tienda Mayor,” is ongoing.
The two are the first markets in Iloilo to be redeveloped through a public-private partnership with SM Prime Holdings (SMPH).
The city mayor earlier stated that the start of this game-changing project is another milestone for Iloilo City and its people as the dream to transform the two public markets into modern, clean, and conducive spaces for vendors and market-goers has now begun to become a reality.
SMPH’s investment for the redevelopment of the two markets amounts to approximately P3 billion, which could result in an estimated 1,500 to 2,000 additional employment opportunities.
The redevelopment of the two popular markets aims to provide the city with a sustainable multi-use market complex that will foster and enhance business activities while preserving the economic value of the Old Central Business District (Calle Real) of the city./PN
