PayMongo
PayMongo, based in Taguig, Philippines, is a fintech company specializing in payment solutions, regulated by the Bangko Sentral ng Pilipinas.
Company Overview
PayMongo is a fintech company based in Taguig, NCR, Philippines, with a team size of 220. Operating in the payments sub-industry, PayMongo offers modern online payment solutions tailored for the Philippine market. The company supports various payment methods, including credit or debit cards, electronic wallets, and over-the-counter payments. Regulated by the Bangko Sentral ng Pilipinas (BSP), PayMongo is committed to providing secure and efficient payment processing systems.
Founders and Investors
PayMongo is notable for its impressive roster of investors which includes Founders Fund, Peter Thiel, Bedrock Capital, and Stripe. The company was part of the Y Combinator S19 batch, a testament to its innovative approach in the fintech sector. The support from these investors has facilitated PayMongo's growth and development within the industry.
Services
PayMongo offers a wide range of services designed to simplify payment processes for businesses. These include robust APIs, plugins, and products to accept payments without a website, such as one-time payment links and customizable checkout pages. Additionally, PayMongo provides plugins for e-commerce builders and an API for integration into any website or app. The company supports e-wallet payments from GCash, Maya, GrabPay, and Coins.ph, and accepts card payments from Visa and Mastercard. Future services include PayMongo QR for in-store payments and Treasury, a wallet-as-a-service API.
Products
PayMongo's product lineup is designed to cater to a wide array of payment needs. The company offers QR Ph payments, enabling cashless transfers via QR code across banks and eWallets. Transaction fees are set at 1.37% or Php 15 per successful transaction, whichever is higher. The upcoming PayMongo QR solution for in-store payments will further expand their offerings. Customers can also avail of Buy Now, Pay Later options through Atome and BillEase. Another notable product is Capital, a flexible financing option for businesses.
