OVER the past few years, the Philippines has been doubling down on its push for digital transformation across the country as smartphone adoption rises.
Specifically, Bangko Sentral ng Pilipinas (BSP) has been promoting QR Ph (the national QR code standard) as part of the Digital Payments Transformation Roadmap, enabling the Philippines to achieve its target of digitalization of over 50 percent of retail payments. By 2028, the bank is aiming to reach digitalization of 60-70 percent of payments in retail, in line with the Philippine Development Plan.
