BSP to micro entrepreneurs: Use digital finance tools | ABS-CBN
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BSP to micro entrepreneurs: Use digital finance tools
BSP to micro entrepreneurs: Use digital finance tools
MANILA — Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. urges micro entrepreneurs to use digital finance tools, saying that these are secure and safe to use.
MANILA — Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. urges micro entrepreneurs to use digital finance tools, saying that these are secure and safe to use.
At the launch of the 4th Digital Financial Inclusion Awards (DFIA), Remolona said small businesses should not be afraid to use digital finance tools such as digital banks and online payments. He said small businesses should incorporate these services in their operations. People usually fear online platforms because of scams and fraud, but he said using digital finance tools is more beneficial overall.
At the launch of the 4th Digital Financial Inclusion Awards (DFIA), Remolona said small businesses should not be afraid to use digital finance tools such as digital banks and online payments. He said small businesses should incorporate these services in their operations. People usually fear online platforms because of scams and fraud, but he said using digital finance tools is more beneficial overall.
“Let’s show every Juan and Maria that digital finance isn’t something to fear, it’s something to embrace,” the BSP chief told reporters and other participants at the media launch.
“Let’s show every Juan and Maria that digital finance isn’t something to fear, it’s something to embrace,” the BSP chief told reporters and other participants at the media launch.
Remolona said the central bank is doing all it can to make digital finance more secured and easy to use. One example he cited is the launch of QRPH. This tool allows customers of all e-wallets and digital banks to just scan the QR code in shops to pay the store.
Remolona said the central bank is doing all it can to make digital finance more secured and easy to use. One example he cited is the launch of QRPH. This tool allows customers of all e-wallets and digital banks to just scan the QR code in shops to pay the store.
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“The QRPH and the new Standard Business Loan Application Form or SBLAF streamlines payments and credit applications. Launched last December, the SBLAF is short, user-friendly, and fully digital,” he said.
“The QRPH and the new Standard Business Loan Application Form or SBLAF streamlines payments and credit applications. Launched last December, the SBLAF is short, user-friendly, and fully digital,” he said.
The BSP chief is supporting the DFIA because the awards gives recognition to 15 micro entrepreneurs and 4 micro-finance institutions who have successfully used digital financial services to improve customer experience, streamline operations.
The BSP chief is supporting the DFIA because the awards gives recognition to 15 micro entrepreneurs and 4 micro-finance institutions who have successfully used digital financial services to improve customer experience, streamline operations.
Remolona said that the public should know of the success stories of micro entrepreneurs who adapted to modern technology and harnessed digital tools to improve the business and society as a whole.
Remolona said that the public should know of the success stories of micro entrepreneurs who adapted to modern technology and harnessed digital tools to improve the business and society as a whole.
Citi Foundation and the Microfinance Council of the Philippine, Inc. (MCPI) are organizing DFIA. All awardees will win P100,000 each. Citi Philippines CEO Paul Favila said helping micro entrepreneurs succeed will also help their communities and the overall Philippine economy.
Citi Foundation and the Microfinance Council of the Philippine, Inc. (MCPI) are organizing DFIA. All awardees will win P100,000 each. Citi Philippines CEO Paul Favila said helping micro entrepreneurs succeed will also help their communities and the overall Philippine economy.
“Micro entrepreneurs are the backbone of our economy. More than awards, the DFIA is a program that aims to give them greater access to resources and technical assistance in digital transformation so they can reach their full potential,” Favila said.
“Micro entrepreneurs are the backbone of our economy. More than awards, the DFIA is a program that aims to give them greater access to resources and technical assistance in digital transformation so they can reach their full potential,” Favila said.
The awarding ceremony of DFIA will be in November this year.
The awarding ceremony of DFIA will be in November this year.
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