Implementation of BSP Circular No. 1055 on the Adoption of a National Quick Response (QR) Code Standard

.., .r BANGKO SENTRAL NG PILIP!NAS OFFICE OFTHE DEPUTY GOVERNOR PAYMENTSAND CURRENCY MANAGEMENTSECTOR MEMORANDUM No. M-2023-005 To All BSP-Supervised Financial Institutions (BSFls) Payment Service Providers IPSPsj Subject Implementation of BSP Circular No. 1055 on the Adoption of a National Quick Response IQRj Code Standard Pursuant to BSP Circular No. 1055 dated 17 October 2019 on the Adoption of a National Quick Response (QR) Code Standard, the Monetary Board, in its Resolution No. 216 dated 16 February 2023. approved the following: I. In line with the thrust of the BSP to ensure the safe, efficient and reliable operations of payment systems in the country as provided in Republic Act (R. A. ) No. 11/27 or the National Payment Systems Act, all payment service providers (PSPs), as defined in BSP Circular No. 1055 shall adopt the National QR Code Standard. which is also referred to as "QR Ph" in this Memorandum. in QR, enabled payment services offered to end users, 2. All PSPs deploying QR Ph-enabled payment services to merchants I businesses shall require such merchants I businesses to display and utilize the QR Ph codes in their payment acceptance. Said PSPs shall provide appropriate product training on QR Ph to their client-merchants. including their store cashiers and managers. specifically on the features and benefits of QR Ph P2M. so that they are able to provide appropriate guidance to customers on the use of QR Ph and enable customers to maximize the benefits of this interoperable National QR Code Standard. 3. All PSPs participating in the InstaPay automated clearing house (ACH) and offering QR-enabled payment services are required to submit a notarized certification of deployment of QR-enabled payment services compliant IAnnex A) or non-compliant (Annex B) to the QR Ph standard including the information on the payment service use-cases that the non-QR Ph codes are being utilized. The certification shall be submitted to the appropriate oversight department of the BSP not later than thirty (30) calendar days from the date of this Memorand urn. 4. All PSPs deploying nori-QR Ph codes, which is also referred to as proprietary QR codes, for payment services shall be allowed to transition to the QR Ph until30 June 2023. 5. Beginning 013uly 2023. all proprietary QR codes for payments services shall be disabled and shall no longer be available to the public a, Receiving PSPs - PSPs offering QR-enabled payment services to their client-merchants I businesses shall disable acceptance of payments via ~. * non-QR Ph codes or proprietary QR codes. An appropriate notification shall prompt and inform the payor of the cause of an unsuccessful payment transaction caused by the use of a non-QR Ph code.

b. Sending PSPs - The internet platforms and mobile applications of PSPs shall no longer support the scanning of non-QR Ph codes or proprietary QR codes 6. Pending the full compliance by a PSP of the requirements under this Memorandum by 013uly 2023, no new electronic fund transfer service of such PSP shall be approved until proof of compliance with this Memorandum have been satisfactoriiy demonstrated by such PSP. 7. PSPs are reminded of Section I of BSP Circular No. 1055 on supervisory enforcement actions that the BSP may deploy to ensure compliance with the provisions of this Memorandum and bring about timely corrective actions. Likewise. PSPs are reminded of the applicable sanctions to erring PSPs as provided In Section 19 of R. A. No. 11/27 and Section 37 of R. A. No. 7653, as amended. (The New Central Bank Act. as amended ). Thus, in the event that any of the submitted certificate/s of compliance is/are found to be erroneous and/or untrue, the concerned PSP may be meted the appropriate sanction under Section 37 of R, A. No. 7653, as amended. for willful making of a false or misleading statement. 8. The Philippine Payments Management Inc. (PPMl), as the accredited Payment System Management Body IPSMB) pursuant to R. A, No. 11/27, shall monitor and , lead its members towards full adoption of the National QR Code Standard. The BSP shall work with the PPMl on the appropriate implementation of this Memorand uin. For guidance and strict compliance I' MA ERTO ANCONAN Deputy over nor ,?6 February 2023 .~ "

AunE^ <Name of PSP> Certification on Compliance with the National QR Code Standard (QR Phi for QR. enabled Payment Services We, < President (or Officer of Equivalent Rank) and 56^e_Qf 06^et2, Compliance Officer. on behalf of the < >. with head/principal office add ress at < >, after having been duly sworn to in accordance with law hereby certify to the best of our knowledge, that < .>: a. Has adopted the National QR Code Standard (QR Ph) for its QR-enabled payment services; b. Payment use-case/s compliant to the QR Ph standard include < >. This certification executed on < >is being submitted in compliance with the requirements of the Bangko Sentral rig Pi!ipinas. Signed: Signed: <Name> <Name> President tar Officer of Equivalent Rank) Compliance Officer SUBSCRIBED AND SWORN to before me, this day of at . with affiant exhibiting their valid identification indicated below: Name Notary Public Notary Re. No. Doc. No. Page No. Series of ..- *

AN^ <Name of PSP> Certification on Non"Compliance with the National QR Code Standard (QR Phi for QR. enabled Payment Services We, 56^06^^, President tor Officer of Equivalent Rank) and s^^ 06^c!et2. Compliance Officer, on behalf of the ^,^me_0^>, with head/principal office address at < >, after havin been dul sworn to in accordance with law hereby certify to the best of our knowledge, that salame_efES2_>: a Has yet to adopt the National QR Code Standard (QR Ph) for its QR-enabled payment services; b. Payment use-cases where proprietary QR codes are still utilized include. !^petsezz_. >. Please list down all payment use-cases where proprietary QR code is still being used: I. <Payment use-case I> 2. <Payment use-case 2> 3. Can add more items This certification executed on spare_erg^>is being submitted in compliance with the requirements of the Bangko Sentral rig Pilipinas. Signed: Signed: <Na me> <Name> President (or Officer of Equivalent Rank) Compliance Officer SUBSCRIBED AND SWORN to before me, this day of at , with affiant exhibiting their valid identification indicated below: Name Notary Public Notary Re. No. ', Doc. No. Page No. Series of