Sterling Bank of Asia has rolled out its Sterling Bank QR Pay service. The initiative is part of the thrift bank’s goals to further improve its digitization and online banking platform.
This makes Sterling Bank among the first lenders in the thrift segment to adopt the National Quick Response Code Standard (QRPh). Implemented in November 2019 by the Bangko Sentral ng Pilipinas (BSP) in collaboration with the local payment industry, QRPh facilitates interoperability between participating banks and e-wallets in the country.
Thus, through Sterling Bank QR Pay, sending funds to or receiving funds from other QRPh-compliant local banks and e-wallets can now be enjoyed by SBA’s depositors and clients. This digital service can easily be accessed through Sterling Bank’s mobile app.
“The advantage of using QR code is that it facilitates instant payment or fund transfer without the need to manually key in the account details,” said Sterling Bank of Asia President and CEO Cecilio San Pedro. “This lessens the errors and makes fund transfers and payments fast, safe, and convenient.”
Sterling Bank QR code is also expected to roll out more new features of its QR Pay soon, along with the added capabilities set for QRPh. According to BSP, QRPh will soon introduce the person-to-merchant (P2M) transactions to complement the person-to-person (P2P) transactions. This comes amid the growing acceptance and use of contactless payments.
For more information, visit Sterling Bank of Asia’s website here.