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Land Bank of the Philippines said it will soon use cards with quick response code functionality to facilitate more convenient and secure cash aid disbursement to beneficiaries of the government’s social amelioration programs.
LandBank teamed up with Traxion Pay to facilitate the innovative payment option, through the signing of a memorandum of agreement led by LandBank president and chief executive Lynette Ortiz and Traxion founder and chief executive Ann Cuisia on May 9, 2024. Under the partnership, Traxion will also provide technology solutions to enable QR Ph person-to-person and person-to-merchant payments.
The adoption of QR code in payment services is in line with the thrust of the Bangko Sentral ng Pilipinas of ensuring the safety, efficiency, and reliability of payment systems in support of advancing inclusive economic growth.
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