The Bangko Sentral ng Pilipinas (BSP) and SM Supermalls have joined hands to promote the acceptance and usage of cashless payments in SM’s 80 malls nationwide and its digital platform, the SM Malls Online app.
“Cashless payment has already been here for quite some time. Even pre-pandemic we have been working with fintech companies like GCash and Maya. But today’s event is a consolidated effort of the public and the private sector to push for cashless payments toward financial inclusion,” said Steven T. Tan, president of SM Supermalls, during the launch event of Cashless Malling at SM last October 18.
“We are very happy to be partnering with SM Supermalls. For us to push financial inclusion, we need to be with SM Supermalls to ensure that no one gets left behind. They are promoting cashless transactions and we know very well that they cater to Filipinos from all walks of life so this will be very helpful for the BSP’s financial inclusion strategy,” said BSP Deputy Governor Berna Romulo-Puyat.
In SM Supermalls, eight out of 10 stores are already accepting digital and QR payments. Through cashless malling, SM shoppers can use their mobile wallets, online bank accounts, and the QRPH App to pay for various products and services at SM.