To mark its 6th anniversary, PayMongo has unveiled an upgraded Financial Operating System (OS) along with a new express onboarding feature aimed at Filipino merchants — from small businesses to large enterprises.
With a goal of prioritizing financial solutions for all types of businesses, the company has reported a total payment volume of $1.1 billion over the past five years and is now targeting $1.7 billion by 2025.
In addition to its financial advancements, PayMongo has enhanced its security measures, recently earning a System and Organization Controls 2 (SOC 2) type 2 certification from the American Institute of Certified Public Accountants (AICPA). This certification underscores the company’s commitment to maintaining strict security protocols for its client base.
PayMongo’s accolades extend beyond security, with strategic partnerships formed with the Anti-Money Laundering Council (AMLC) and ongoing compliance with the Bangko Sentral ng Pilipinas (BSP).
During a celebratory event held on March 14, the company introduced a reforged brand identity and upgraded systems designed to simplify business payments, provide instant funding access, and facilitate the embedding of financial tools into software platforms.
One of the standout features being highlighted is PayMongo Capital, an express onboarding solution that allows businesses to open an account in 30 minutes or less.
The initiative will further evolve to include instant installment capabilities, embedded finance infrastructure, comprehensive payment assistance, and advanced fraud detection measures.
To fortify client account safety, PayMongo is collaborating with Mochi Solutions and Mosaic Solutions, aiming to enhance financial transactions across multiple platforms.
Luis Sia, PayMongo chairman and co-founder, emphasized the importance of these changes, stating, “We’re not just changing our look, we’re redefining how businesses access financial power.”
