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LANDBANK launches 'contactless' feature, allows users to pay via QR code

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ABS-CBN News

<p>MANILA - Users of Land Bank of the Philippines&#x27; mobile app can now pay using QR codes to over 20,000 participating stores nationwide, it said Tuesday.</p><p>The bank has adopted the Bangko Sentral ng Pilipinas&#x27; QR Ph person-to-merchant (P2M) feature launched to boost digital transactions in the country, LANDBANK said in a statement. </p><p>The BSP&#x27;s standard QR code made QR payment interoperable among participating firms, giving users more options for payments without having to open several accounts to use the feature. </p><p>“LANDBANK is one with the BSP in making and receiving payments a more convenient, reliable, and seamless experience through the national QR code standard or QR Ph,&quot; said LANDBANK President and CEO Cecilia C Borromeo.</p><p>&quot;This contactless payment feature builds on our timely and relevant digital initiatives to keep clients safe, as we continue to follow strict health protocols in the new normal,” she added. </p><p>Aside from being cost-effective, using QR codes minimizes encoding errors, LANDBANK said. </p><p>LANDBANK said the use of its mobile app surged during the first 3 quarters of the year.</p><p>The BSP, meanwhile, aims to digitalize at least 50 percent of transactions and encourage 70 percent of the population to open bank accounts by 2023.</p><p>In October, the BSP said at least 1 in 5 transactions in the country are now digital. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/10/18/21/1-in-5-payments-now-digital-says-bsp">BSP says 1 in 5 payments now digital; InstaPay overtakes ATM withdrawals in 2020</a></li>	<li><a href="https://news.abs-cbn.com/business/11/20/19/bangko-sentral-launches-standardized-qr-platform-for-digital-payments">Bangko Sentral launches standardized QR, platform for digital payments</a></li>	<li><a href="https://news.abs-cbn.com/business/10/13/21/qr-tech-paving-way-for-cash-lite-economy-bsp">New QR technology empowers &#x27;unbanked&#x27; sari-sari stores, tricycle drivers: BSP</a></li></ul><div><strong>RELATED VIDEO: </strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1702763" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

Users of Land Bank of the Philippines' mobile app can now pay using QR codes to over 20,000 participating stores nationwide, it said Tuesday.