Coins.ph, a digital wallet provider and crypto exchange platform, has introduced a new feature to facilitate QR code-based payments across the Philippines.
Dubbed Pay with QR, the new offering allows Coins Wallet users to carry out cashless transactions at merchant outlets and businesses across the country.
Users can tap the ‘Pay with QR’ feature on the Coins app, scan the QR code at merchant outlet and then make the payment to instantly perform their transaction.
The feature complies with QR Ph, the Philippines’ QR payment standard developed by the country’s central bank Bangko Sentral ng Pilipinas (BSP).
It is supported by the Europay-Mastercard-Visa (EMV) system, the global standard earmarked for fast and secure transactions.
The QR Ph system has been designed to enable merchants and small business owners to exhibit a single QR code that supports various digital wallets, such as Coins.ph.
Coins.ph CEO Wei Zhou said: “The adoption of cashless payments is a major enabler for financial inclusion because it opens up a whole new world of opportunities for marginalised communities that have previously lacked access to formal banking solutions.
“We are proud to throw our support behind QR Ph, a great initiative from the Philippines’ Central Bank that we believe will accelerate digital adoption by providing a unified national standard for QR code payments.
“We will continue to play our part by working closely with the local governments to push the Philippines into the digital payments age.”
Last month, Coins.ph announced its plan to integrate Elliptic solutions to improve its crypto compliance competences in the Philippines.