The Bangko Sentral ng Pilipinas (BSP) and the Philippine Payments Management, Inc. (PPMI) have launched One, a single QR code system that makes digital payments easier and safer. The new system will replace the different QR formats and unify them under one standard that works across banks and e‑wallets.
The unified standard will help both merchants and customers. Instead of using multiple QR codes, everyone can now rely on one system that ensures payments go through smoothly. Platforms like GCash, Maya, and banks are all covered, making transactions faster and less confusing.
The launch also introduced new services under the national retail payment system:
- Direct Debit PH lets billers automatically collect payments from accounts or e‑wallets.
- InstaPay Cash‑In (Request for Funds) allows users to request transfers from others.
- InstaPay for Business raises transaction limits from ₱50,000 to ₱500,000, giving companies more room to move money.
For shops, One QR will reduce errors at checkout. For customers, it speeds up payments and adds security. By unifying QR codes, BSP and PPMI aim to push the country closer to a cashless economy.
Also Read: PNP, DICT, DTI target fake QR codes in online selling
With One QR now live, more businesses and consumers are expected to adopt QR payments.
Featured image from GizGuide
