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The future of cashless payments is here.

With the steady rise of digital banking in the Philippines, the Philippine Payments Management Inc. (PPMI) through the guidance of the Bangko Sentral ng Pilipinas (BSP) launched an initiative that will help cashless transactions propel forward – the National QR (Quick Response) Code standard or QRPh.

Launched last November 2019, QRPh (initially for P2P – person to person, for Instapay Payment Rails), allows a quick and safe method to pay, transfer, and receive funds from other bank and e-money accounts in the Philippines. Two users (payment customers) do not have to maintain a deposit account for the same bank just to be able to send and receive money from each other—all they need is a smartphone with the app of their bank or e-wallet, and to ensure that their respective bank or e-wallet companies subscribe to InstaPay.

How does it work?

QRPh works just like any QR system: a QR code is generated for recipients, and the senders can scan the QR code to pay. No more tapping, swiping, or signing needed.

QRPh also recently launched its P2M (person to merchant) option, which allows for payment to merchants from your bank account. Merchants do not have to buy additional equipment to collect payment through this medium. Just scan the QRPh code of the merchant and you are good to go.

What are its benefits?

QRPh offers more than just a faster, more secure payment option with greater convenience. It is a game-changer for the overall financial scene in the country because of the following:

  1. It offers better information security for merchants. Gone are the days when they have to show their full name and account number in public. With QRPh, all they need to show is their QRPh code that their clients could snapshot or download. More importantly, situations where funds are sent to incorrect account numbers will be eliminated.

  2. It encourages all types of businesses, especially those that belong in the micro, small, and medium enterprises (MSMEs), to join the formal financial system. They can say goodbye to carrying bulky coins to provide change. Clients can pay the exact amount down to the last centavo.

  3. It helps expand the banks and e-wallets’ customer base. Clients will naturally be drawn to payment service providers that offer convenience to them

QRPh is the latest innovation that will push interoperability further towards all businesses and end-users in the country. As adoption of the QRPh form factor expands among its participating financial institutions, we are all assured of a brighter financial future: a future where we can experience safe and secure cashless transactions with confidence.


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