The Land Bank of the Philippines (Landbank) is stepping-up to accelerate the adoption of cashless transactions in Davao City’s biggest public market, in support of the central bank’s thrust of transforming the country into a cash-lite economy.
Landbank joined the Bangko Sentral ng Pilipinas (BSP), the Department of Interior and Local Government (DILG), and the City Government of Davao during the launch of the Paleng-QR Ph program at the Bankerohan Public Market to provide local stakeholders with their own bank accounts.
The Landbank Mobile Branch was deployed to facilitate on-the-spot account opening among market vendors and shop owners, as well as market goers. New account holders were automatically enrolled in the Landbank Mobile Banking App (MBA), which can facilitate the transfer and receipt of funds via Quick Response (QR) code.
The Overseas Filipino Bank (OFBank), the official digital bank of the Philippine government and a subsidiary of Landbank, also participated in the event and offered its deposit products to Davaoeños.
