PayMongo launches digital wallet for SMEs

Paymongo Wallet is designed for digital transactions for SMEs in the country.

“PayMongo Wallet streamlines online business operations and enhances financial management, helping Filipino SMEs thrive in the digital age,” PayMongo CEO Jojo Malolos said. “Our goal is to help SMEs stay competitive in a digital-first world.”

Malolos added that it’s critical for the digital age to have smooth and secure financial transactions for any businesses. “It’s not just about convenience; it’s about creating a better experience for both merchants and their customers while ensuring top-notch online security,” he said.

PayMongo features Cash Flow Management, Transaction Tracking, Faster Payouts, and Flexible Platform Integration.

Cash Flow Management is exactly what it is named for. Financial management, such as cashing in or sending money to any bank.

Transaction Tracking allows SMEs to track their financial transactions, making it easier for future auditing and accounting. 

Faster Payouts allows receiving payouts quicker.

The Flexible Platform offers a robust API for merchants to integrated into their own systems, which includes customizable and scalable financial tool.

PayMongo co-Founder and chairperson Luis Sia said that PayMongo has reinforced the security of its platform to safeguard business finances as it adheres to stringent security standards of Bangko Sentral ng Pilipinas (BSP), including PCI-DSS and SOC2 compliance.

“This proactive approach to risk management underscores our commitment to protecting merchants and their transactions against cyber threats,” Sia said.