BSP Implements the National QR Code Standard

The Bangko Sentral ng Pilipinas (“BSP”) on 23 February 2023 issued Memorandum No. M-2023-005 (“Memorandum”) to implement BSP Circular No. 1055 on the adoption of a National QR Code Standard. 

Pursuant to the mandate of the BSP under the National Payment Systems Act or Republic Act No. 11127 to ensure the safe, efficient and reliable operations of payment systems in the country, all payment service providers (“PSP”) shall adopt the National Quick Response (“QR”) Code Standard (“QR Ph”) in QR-enabled payment services offered to end users. All PSPs deploying QR-Ph-enabled payment services to merchants or businesses shall require such merchants or businesses to display and utilize the QR Ph codes in their payment acceptance. The PSPs shall provide appropriate product training on QR Ph to their client-merchants, including the store cashiers and managers, to enable them to provide appropriate guidance to customers on the use and maximization of the benefits of QR Ph.  

All PSPs participating in the InstaPay automated clearing house and offering QR-enabled payment services are required to submit a notarized certification of deployment of QR-enabled payment services compliant or non-compliant to the QR Ph standards including the information on the payment service use-cases that non-QR Ph codes are being utilized. The certification shall be submitted to the appropriate oversight department of the BSP not later than 30 calendar days from the date of the Memorandum. 

All PSPs deploying non-QR Ph codes or proprietary QR codes for payment services shall be allowed to transition to the QR Ph until 30 June 2023. Thereafter, all proprietary QR codes for payments services shall be disabled and shall no longer be available to the public. 

Pending the full compliance by a PSP of the requirements under the Memorandum by 1 July 2023, no new electronic fund transfer service of such PSP shall be approved until proof of compliance with the Memorandum have been satisfactorily demonstrated by such PSP. 

The Philippine Payments Management Inc. (“PPMI”), as the accredited Payment System Management Body, shall monitor and lead its members towards full adoption of QR Ph. The BSP shall work with the PPMI on the appropriate implementation of the Memorandum. 

The Memorandum and the templates for the certifications on compliance and non-compliance with QR Ph may be found here.