PayMongo
PayMongo is a BSP-regulated Philippine financial infrastructure platform that enables SMEs, startups, and enterprises to accept digital payments, move money, and access working capital through a single API and dashboard, serving 10,000+ merchants with card, e-wallet, and QR Ph acceptance.
- Company typePrivate
- Founded2019
- HeadquartersTaguig, Philippines
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What PayMongo does
PayMongo is a BSP-regulated financial infrastructure provider headquartered in Taguig, Philippines, founded in 2019. It enables Filipino businesses — primarily SMEs, startups, and select enterprises across retail, education, travel, and F&B — to accept digital payments, move money, and access working capital through a single API and dashboard. The platform supports more than 30 payment methods including cards, GCash, Maya, GrabPay, and the national QR Ph standard, and powers 10,000+ merchants with cited operational metrics of sub-0.1% fraud and 98% transaction approval.
The company's core technology stack includes a public REST Payments API, a separate Workflows API for programmable money movement, an in-house Wallet, and Prism Analytics for SQL-based reporting. It holds PCI-DSS Level 1 certification and is licensed by the Bangko Sentral ng Pilipinas as both an Operator of Payment Systems and Electronic Money Issuer. Native integrations span Shopify, WooCommerce, and Magento, and acquiring or referral relationships are in place with EastWest Bank, UnionBank, Robinsons Bank, GCash, Maya, and GrabPay. In 2024 PayMongo expanded from payment acceptance into capital lending and disbursements, and in 2026 launched a Mastercard/Paymentology-powered virtual prepaid card product.
PayMongo monetises primarily through per-transaction processing fees under a pay-as-you-grow model with no setup or monthly maintenance charges. Recurring revenue is layered through tiered Advanced (0.3% of monthly TPV, ₱58,888 minimum) and Premium (0.5% of TPV, ₱78,888 minimum) support plans, while Capital generates interest and fee income on transaction-history-based loans. Distribution combines product-led self-serve sign-up via the dashboard, an API-first developer channel, bank referral partnerships, and consulting/implementation partners for enterprise deployment. PayMongo has raised approximately $46M in total funding across seed, Series A (led by Stripe), and Series B (led by JAM Fund).
PayMongo firmographics
Firmographics- Name
- PayMongo
- Legal name
- PayMongo Philippines, Inc.
- Website
- https://paymongo.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- PayMongo is a BSP-regulated Philippine financial infrastructure platform that enables SMEs, startups, and enterprises to accept digital payments, move money, and access working capital through a single API and dashboard, serving 10,000+ merchants with card, e-wallet, and QR Ph acceptance.
- Ownership category
- akta.pro rank
PayMongo industry classification
Industry- Product category
- Payment Processing Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN)
- akta.pro secondary industries
- Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)
Keywords
Where PayMongo is headquartered
LocationHeadquarters
- HQ city
- Taguig
- HQ country
- Philippines
- HQ region
- Asia
Offices1 record
Markets served
PayMongo business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations, Supply Chain
Revenue model
- Payment Processing Fees: PayMongo charges transaction fees on successful payments processed through its platform. The company operates on a pay-as-you-grow model where merchants only pay a small fee per successful transaction. Additional revenue comes from payment method facilitation including card payments, e-wallets, and QR Ph transactions.
- Support Plan Fees: Tiered support plans with Advanced Plan at 0.3% of monthly TPV (minimum ₱58,888) and Premium Plan at 0.5% of monthly TPV (minimum ₱78,888). Essential support is provided free to all merchants.
- Capital Lending: PayMongo provides tailor-fit funding to merchants based on their transaction history. Revenue is generated from interest and fees on loans extended to businesses.
- Platform/Issuing Services: Revenue from distributing funds between businesses and suppliers in real-time, automating payouts, and issuing virtual or physical branded cards for customer rewards and staff purchasing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Essential - Free baseline support for all merchants |
| Usage-based | Monthly | Advanced - Shared Technical Account Manager |
| Usage-based | Monthly | Premium - Dedicated Technical Account Manager and critical event coverage |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
PayMongo product offering
Product offeringCore offering
PayMongo operates a regulated financial infrastructure platform that enables Filipino businesses to accept digital payments online and in-store via APIs, hosted Pages, Payment Links, QR Ph, and e-commerce plugins, and to move, store, lend against, and issue funds through an integrated Wallet, Capital lending product, Platforms payout engine, and Virtual Card issuance service. The offering is delivered through a self-serve Dashboard and a public REST API, supports 30+ payment methods (cards, GCash, Maya, GrabPay, QR Ph, online bank transfers), and is priced on a pay-as-you-grow transaction model plus tiered support subscriptions.
Product overview
PayMongo is a financial infrastructure platform offering a unified suite of payment and financial services products through both a dashboard interface and public API. The core products include Payment Links, Payment Pages, and an API for payment acceptance; QR Ph (QR code payments) via standees and soundboxes; a Mobile App for on-the-go payment management; and a Wallet system supporting cards, GCash, and QR Ph payments. Additional products include Capital (transaction-based business financing), Platforms (for marketplaces and platforms to manage payouts and supplier payments), and Virtual Cards (branded virtual or physical cards for customer rewards and staff purchasing). The platform supports e-commerce integrations with Shopify, WooCommerce, and Magento, and expanded in 2024 into comprehensive digital financial services including disbursements, lending, and subscription payments.
Differentiator
Problem solved
Functional benefit
Products and services
- Payment Links Shareable payment link that allows merchants to collect payments easily by sending a link to customers via messaging apps, email, or social media. Designed for Filipino businesses that need lightweight, no-code payment acceptance.
- Payment Pages Reusable, customizable hosted payment page that merchants can use to accept payments without coding knowledge, supporting multiple payment methods in a single checkout experience.
- Express Cards Shopify-integrated checkout solution enabling customers to complete purchases in three easy steps without redirects, providing a seamless checkout experience on Shopify stores.
- Payments API REST API enabling developers to integrate multiple payment methods seamlessly into websites or applications with a few lines of code, supporting authentication via HTTP Basic with sk_test_/sk_live_ secret keys and Organization-Id headers.
- QR Ph Standee QR code display standee for in-store payments that facilitates quick and cashless transactions using the Philippine national QR Ph standard.
- QR Ph Soundbox Audio-enabled QR payment device providing instant audio feedback on successful payments without requiring merchants to check their dashboard.
- Mobile App Smartphone application enabling merchants to manage payments and transactions anywhere, running their business directly from their mobile device.
- Wallet Digital wallet consolidating cards, GCash, and QR Ph payments in one place, providing instant access to manage business funds and transactions including sending/receiving money and fund management.
- Capital Business financing product providing tailor-fit funding to merchants based on their transaction history. Merchants receive funds within a day and repay loans automatically through sales.
- Platforms Platform and marketplace solution enabling businesses to distribute funds between their business and suppliers in real time, automate payouts, and keep all parties synchronized.
- Virtual Cards (Issuing) Virtual and physical card issuance product allowing businesses to reward loyal customers or give staff secure purchasing power with branded cards, including fund loading, spending limits, and real-time transaction tracking.
- Storefront AI AI-powered online store creation tool helping merchants quickly set up their e-commerce presence with PayMongo payment acceptance integrated.
Quantifiable outcome
- Fraud rate below 0.1%
- +4 more outcomes
Companies that use PayMongo
Customer profileNamed customers19 records
Segments6 records
Ideal customer profiles4 records
PayMongo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration27 records
AI capability2 records
Feature7 records
PayMongo partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered core and minor.
- MastercardcoreStrategic partnership with Mastercard and Paymentology to launch virtual prepaid card service enabling Philippine SMEs to issue business prepaid cards within five minutes through PayMongo's wallet system.
- PaymentologycorePartnership with Paymentology as the card processing infrastructure provider for virtual prepaid card issuance to Philippine SMEs.
- EastWest Banking Corp.corePartnership to offer corporate and SME clients preferential merchant discount rates on online payment gateways. Collaboration also covers exploration of blockchain-backed stablecoins and interoperable APIs for future payment solutions.
- ShopifycoreTechnology partnership enabling merchants using Shopify to accept payments through PayMongo via plugin integration. Includes Express Cards feature for 3-step checkout without redirects.
- WooCommercecoreTechnology partnership enabling WooCommerce merchants to integrate PayMongo payment processing through official plugin.
- MagentocoreTechnology partnership enabling Magento merchants to accept PayMongo payments through plugin integration.
- UnionBankcoreUnionBank partnership includes both technology integration (Global Linker e-commerce platform) and Visa/Mastercard acquiring services for payment processing.
- EastWest BankcoreReferral partnership where EastWest Bank refers its corporate and SME clients to PayMongo for payment processing with preferential merchant discount rates.
- GCash (Mynt)coreGCash acquiring partnership enabling merchants to accept GCash mobile wallet payments through PayMongo platform.
- PayMayacorePayMaya acquiring partnership enabling merchants to accept PayMaya e-wallet payments through PayMongo.
- GrabPay (GPay Network)coreGrabPay acquiring partnership enabling merchants to accept GrabPay payments through PayMongo.
- Robinsons BankcoreRobinsons Bank partnership for Visa and Mastercard acquiring services enabling payment processing.
- Skyrocket StudiosminorOmnichannel advertising agency providing consulting services to help businesses implement PayMongo.
- Sytian ProductionsminorWeb design company with 16+ years of experience helping businesses implement PayMongo payment solutions.
Scale indicators12 records
Recent moves7 records
Expansion highlights7 records
PayMongo competitors and assessment
Company assessmentDirect peers
- Xendit: Indonesia-headquartered (with Philippines operations) payment gateway and financial infrastructure platform serving SMBs and enterprises via API. Closest direct competitor to PayMongo given overlapping products (payments, disbursements, lending) and similar developer-led GTM in Southeast Asia.
- Maya Business: Philippine e-wallet and merchant acquiring service from Maya (formerly PayMaya). Directly competes with PayMongo on QR Ph, e-wallet acceptance, and merchant acquiring in the same Philippine SMB segment.
- DragonPay: Philippine online payment gateway offering multi-channel payment acceptance (banks, e-wallets, OTC) since 2010. Direct domestic competitor targeting similar SME and enterprise use cases with comparable API-first design.
- PesoPay: Established Philippine payment gateway operated by TieUp Resources, serving merchants with card and online banking acceptance. Direct peer in the PH market with overlapping enterprise and SMB customer base.
Broad incumbents
- Stripe: Global payments infrastructure leader and PayMongo's Series A lead investor. Overlapping API-first payment gateway functionality serving global enterprises; relevant as both strategic investor and potential global competitor entering the PH market.
- Adyen: Global unified payments platform serving enterprise merchants with card acquiring, online, and POS processing. Comparable on platform architecture and enterprise-grade focus, though not currently active in PH SMB segment.
- Rapyd: Global fintech-as-a-service platform offering payment acceptance, disbursements, issuing, and FX via unified API. Comparable in product breadth (payments + lending-adjacent + issuing) and developer-led GTM across multiple geographies.
- Block (Square): Owner of Square seller ecosystem and Cash App, offering payment processing, lending (Square Capital), and banking-as-a-service. Comparable in SMB-focused financial OS thesis with broader geographic and product reach.
Regional players
- 2C2P (Ant Group): Southeast Asian payment service provider (now backed by Ant Group) operating across Thailand, Singapore, Malaysia, Indonesia, and the Philippines. Comparable in API-based payment acceptance and merchant services across SEA.
- Mozambee: Philippine merchant-focused payment and POS solution serving retail and SMB customers with QR Ph and card acceptance. Regional peer competing in similar PH segments with narrower product set.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
PayMongo social profiles
Digital presencePayMongo compliance and trust
Trust signalCompliance3 records
PayMongo financial estimates
Financial estimateRevenue estimate
Valuation estimate
PayMongo leadership team
Management profileNumber of profiles
Profiles10 records
PayMongo funding detail
Funding detailFunding overview
Funding rounds3 records
Investors10 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PayMongo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PayMongo
What does PayMongo do?
PayMongo operates a regulated financial infrastructure platform that enables Filipino businesses to accept digital payments online and in-store via APIs, hosted Pages, Payment Links, QR Ph, and e-commerce plugins, and to move, store, lend against, and issue funds through an integrated Wallet, Capital lending product, Platforms payout engine, and Virtual Card issuance service. The offering is delivered through a self-serve Dashboard and a public REST API, supports 30+ payment methods (cards, GCash, Maya, GrabPay, QR Ph, online bank transfers), and is priced on a pay-as-you-grow transaction model plus tiered support subscriptions.
Is PayMongo a public or private company?
PayMongo is a private company. It is classified as venture growth investor backed and is currently operating.
When was PayMongo founded?
PayMongo was founded in 2019. It employs 101 to 250 people.
Where is PayMongo based?
PayMongo is headquartered in Taguig, Philippines, in the Asia region.
How does PayMongo make money?
Four revenue lines are on record. Payment Processing Fees are the primary driver. The others are support Plan Fees, capital Lending and platform/Issuing Services.
Who are PayMongo's main competitors?
Direct peers on record are Xendit, Maya Business, DragonPay and PesoPay. Broad incumbents are Stripe, Adyen, Rapyd and Block (Square). Regional players are 2C2P (Ant Group) and Mozambee.
Does PayMongo have an API?
Yes. PayMongo offers a public REST API that enables developers to build payment acceptance, money movement, and financial services into their applications. The API supports authentication via HTTP Basic (secret keys prefixed sk_test_... for sandbox and sk_live_... for production) plus Organization-Id header. A separate Workflow API (https://workflow-api.paymongo.com/v1/) handles workflow automation including fund transfers, payout routing, and event-based triggers. MCP (Model Context Protocol) server available as part of Premium and Advanced support tiers for AI-assisted self-service support. Developer documentation is at docs.paymongo.com/reference.
What industry is PayMongo in?
PayMongo's product category is Payment Processing Infrastructure. Its primary akta.pro industry code is FSAGABAN, Payouts, Disbursements & Mass Payments Infrastructure, with a secondary code of FSAGALAB, Embedded Payments (Pay-ins, Pay-outs, Wallets). Its NAICS code is 522320 and its SIC code is 6199.