Dragonpay
Dragonpay Corporation is a BSP-regulated Philippine online payment gateway founded in 2010, processing 400M+ transactions across 905+ merchants via banks, e-wallets, OTC, QRPh, and crypto, now operating as a Xendit subsidiary.
- Company typePrivate
- Founded2010
- HeadquartersMakati, Philippines
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Dragonpay does
Dragonpay Corporation is a Philippine payment gateway operator founded in 2010 and headquartered in Makati, operating as a registered Payment System Operator (OPSCOR-2020-0022) under the Bangko Sentral ng Pilipinas. The company runs an online payment platform connecting merchants with banks, e-wallets, over-the-counter payment centers, credit cards, QRPh, and cryptocurrency rails across 85+ payment channels and 35,500+ branches nationwide, alongside mass-payout, recurring auto-debit, and consumer wallet (Dragonpay Credits) products. Since August 2021 Dragonpay has been a subsidiary of Xendit, and from July 2026 its merchants are onboarded through Xendit's regional platform with access to 100+ payment methods, cross-border payouts, and financing across Southeast Asia.
The platform is exposed to merchants primarily via a single REST-based Payment API plus plug-ins for Shopify, Wix, WooCommerce, Shopline, EasyStore, and EasyBuilder Pro, with a Mass Payout API for bulk disbursements and a no-code email-billing product for SMB onboarding. Reported scale includes 905+ merchants, 44 partners (banks, non-bank financial institutions, e-wallets, OTC providers), and over 400 million cumulative transactions processed since inception. Select disclosed customers span Gogoro Philippines (EV payments), AllBank (QRPh-P2M), Wix, World Vision, and Digido.
Revenue is generated on a transactional basis: fixed PHP 10–20 fees for online banking and OTC, variable MDR-based pricing for e-wallets and credit cards, 2% on installment plans (Billease, Tendopay), per-transaction crypto fees (BTC, ETH, USDT), and percentage-plus-fixed tiers across digital goods, donations, education, insurance, and standard e-commerce (e.g., PHP 15 + 4%). A waived PHP 36,000 setup fee applies to Philippine merchants. Go-to-market combines direct enterprise sales, partner platform onboarding (notably via Xendit), and SMB self-serve through e-commerce marketplace plug-ins, with the business explicitly positioned as the pioneer of alternative payments serving unbanked and underbanked Filipinos.
Dragonpay firmographics
Firmographics- Name
- Dragonpay
- Legal name
- Dragonpay Corporation
- Website
- https://dragonpay.ph
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Dragonpay Corporation is a BSP-regulated Philippine online payment gateway founded in 2010, processing 400M+ transactions across 905+ merchants via banks, e-wallets, OTC, QRPh, and crypto, now operating as a Xendit subsidiary.
- Ownership category
- akta.pro rank
Dragonpay industry classification
Industry- Product category
- Payment Processing / Online Payment Gateway
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
- akta.pro secondary industries
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), QR Code Payments Wallets (FSAMAEAC)
Keywords
Where Dragonpay is headquartered
LocationHeadquarters
- HQ city
- Makati
- HQ country
- Philippines
- HQ region
- Asia
Offices1 record
Markets served
Dragonpay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Transaction Fees - Online Banking: Fixed fee per transaction for online banking payments via BPI, BDO, Unionbank and other major banks
- Transaction Fees - Over-the-Counter Banking: Fixed fee per transaction for cash payments at bank branches and ATMs
- Transaction Fees - Payment Centers: Fixed fee per transaction for payments at payment centers including Bayad, Cebuana Lhuillier and more
- E-wallet Processing Fees: Variable fees from fixed to MDR for e-wallet transactions including AliPay, Coins.ph, GCash, GrabPay, Maya, Moneygment, PayPal, ShopeePay, and WeChatPay
- Credit Card Processing: Variable fees based on evaluation for Visa and MasterCard transactions
- Cryptocurrency Payments: Per-transaction fees for crypto payments including Bitcoin, Ethereum, and Tether
- Installment Payments: 2% fee for installment plans via Billease and Tendopay
- Merchant Setup Fee: PHP 36,000 setup fee waived for Philippines merchants
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | One-time | Zero Setup Fee for Philippine Merchants |
| Unit Pricing | Pay-as-you-go | Online Banking - PHP 10 per transaction |
| Unit Pricing | Pay-as-you-go | Over-the-Counter Banking - PHP 15 per transaction |
| Unit Pricing | Pay-as-you-go | Payment Centers - PHP 20 per transaction |
| Transaction based/ take rate | Pay-as-you-go | E-Wallets - Variable fees |
| Transaction based/ take rate | Pay-as-you-go | Credit Cards - Variable evaluation-based fees |
| Unit Pricing | Pay-as-you-go | Crypto Payments - Per transaction |
| Transaction based/ take rate | Pay-as-you-go | Installments - 2% fee |
| Transaction based/ take rate | Pay-as-you-go | Education, Insurance, Financing - PHP 15 + 2.5% |
| Transaction based/ take rate | Pay-as-you-go | Digital Goods - PHP 15 + 1% |
| Transaction based/ take rate | Pay-as-you-go | Donations - PHP 15 + 4% |
| Transaction based/ take rate | Pay-as-you-go | Standard E-commerce - PHP 15 + 4% |
| Unit Pricing | Pay-as-you-go | Mass Payout - Cash Pickup - PHP 50+ |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels10 records
Dragonpay product offering
Product offeringCore offering
Dragonpay is a Philippine online payment gateway that enables merchants to accept payments via 85+ channels including online banking, e-wallets, credit cards, over-the-counter cash payments at banks and payment centers, QRPh QR codes, and cryptocurrency. It also provides Mass Payout for bulk disbursements and Recurring Payments for subscription billing, all accessible through a single API integration. The platform connects unbanked Filipino consumers with digital businesses and is BSP-regulated as a registered Payment System Operator.
Product overview
Dragonpay is a Philippine payment gateway platform consisting of three core products: Online Collections (payment acceptance via 85+ channels), Mass Payout (bulk disbursements), and Recurring Payments (automated billing). These are supported by sub-products including Dragonpay Credits (mobile wallet), RFID top-up, and platform integrations (Wix, Shopify, WooCommerce, Shopline, EasyStore). The company also offers developer APIs for custom integrations and an email-based billing solution for basic merchants. As a Xendit company since 2021, Dragonpay connects unbanked consumers with digital businesses through online banking, e-wallets, OTC payments, QR codes, and cryptocurrency support.
Differentiator
Problem solved
Functional benefit
Brands
- Dragonpay Credits: A mobile wallet app that allows users to top-up prepaid credits and pay at merchant locations via QR code. Users can earn Robinsons Rewards for every payment made.
Products and services
- Online Collections
Quantifiable outcome
- Enables businesses to reach millions of unbanked Filipino consumers through OTC and e-wallet channels
- +2 more outcomes
Companies that use Dragonpay
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles4 records
Dragonpay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration22 records
Feature5 records
Dragonpay partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- Gogoro PhilippinescoreDragonpay serves as official payments partner for Gogoro Philippines Smartscooters. Enables payments via GCash and Credit Card for Gogoro battery-swapping platform, facilitating sustainable transportation adoption.
- DigidominorCollaborated on environmental sustainability initiative including tree planting activity at Cuyambay, Tanay, Rizal.
- AllBankcoreCollaboration to provide QRPh-P2M fast, easy, and convenient QR payments for Dragonpay users. Dragonpay users can pay using e-wallets and bank accounts from any QRPh-P2M participating institution.
- WixcorePartnership enabling Wix merchants in the Philippines to connect to Dragonpay and process credit cards and various payment methods including cryptocurrencies (BTC, ETH, USDT). Provides seamless online shopping experience with wider market reach.
- XenditcoreXendit made strategic investment in Dragonpay in August 2021. In July 2026, Dragonpay was formally integrated into Xendit's regional platform, giving Dragonpay merchants access to over 100 payment methods, payouts, cross-border payments, and financing services. Dragonpay now operates as a Xendit company with all merchant onboarding managed through the Xendit platform.
- World VisionminorCSR partnership supporting World Vision's annual Noche Buena Campaign for three consecutive years, benefiting over 1,200 households.
- Fintech Philippines AssociationminorDragonpay is a proud advisory member of Fintech Philippines, supporting the Philippine fintech ecosystem.
- Banks (BDO, BPI, Metrobank, PNB, etc.)corePartnership with major Philippine banks enabling online banking, OTC cash deposits, and auto-debit recurring payments through Dragonpay platform.
- E-wallets (GCash, Maya, Coins.ph, etc.)coreIntegration with major Philippine e-wallets allowing mobile payments via Dragonpay platform.
- Payment Centers (Bayad, Cebuana Lhuillier, M.Lhuillier)coreOTC cash payment network with branches nationwide enabling unbanked consumers to make online payments.
Scale indicators10 records
Recent moves6 records
Expansion highlights6 records
Dragonpay competitors and assessment
Company assessmentRegional players
- Ride: N/A — placeholder omitted.
Direct peers
- PayMongo: Philippine payment gateway offering online payment acceptance for merchants via cards, e-wallets, and online banking. Most direct like-for-like competitor in the Philippine merchant gateway space.
- Xendit: Dragonpay's parent company and Southeast Asia payment infrastructure operator; offers 100+ payment methods across SEA. Also a direct competitor, since Xendit can sell direct to Philippine merchants.
- Maya (PayMaya): Philippines super-app offering e-wallet, acquiring, and payment gateway services to merchants. Major direct competitor in both Philippine payment gateway and digital wallet categories.
- GCash: Dominant Philippine e-wallet with 60M+ users; also offers merchant payment acceptance. Competes directly with Dragonpay's e-wallet, online banking, and merchant integration rails.
- AsiaPay (pesoPay): Philippine payment gateway (pesoPay) supporting cards, e-wallets, and online banking for merchants. Direct competitor in Philippine alternative payment gateway segment.
- 2C2P: Southeast Asia payment gateway serving merchants across the region including the Philippines. Comparable in orchestrating multiple payment channels for cross-border and local merchants.
Broad incumbents
- UnionBank of the Philippines: Large Philippine universal bank providing online banking, e-wallet, and merchant acquiring. Overlaps with Dragonpay as a partner and competes in payment collection rails.
Emerging players
- BillEase: Philippine BNPL provider integrated with Dragonpay; also offers merchant payment acceptance. Comparable on installment and consumer financing use cases.
- ShopeePay: Philippine e-wallet integrated with Dragonpay's platform; also directly competes as a payment option on e-commerce sites. Adjacent competitor in the e-wallet payment category.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
Dragonpay social profiles
Digital presenceDragonpay compliance and trust
Trust signalCompliance2 records
Dragonpay financial estimates
Financial estimateRevenue estimate
Valuation estimate
Dragonpay leadership team
Management profileNumber of profiles
Profiles1 record
Dragonpay funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Dragonpay 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 Dragonpay
What does Dragonpay do?
Dragonpay is a Philippine online payment gateway that enables merchants to accept payments via 85+ channels including online banking, e-wallets, credit cards, over-the-counter cash payments at banks and payment centers, QRPh QR codes, and cryptocurrency. It also provides Mass Payout for bulk disbursements and Recurring Payments for subscription billing, all accessible through a single API integration. The platform connects unbanked Filipino consumers with digital businesses and is BSP-regulated as a registered Payment System Operator.
Is Dragonpay a public or private company?
Dragonpay is a private company. It is classified as corporate owned and is currently operating.
When was Dragonpay founded?
Dragonpay was founded in 2010. It employs 51 to 100 people.
Where is Dragonpay based?
Dragonpay is headquartered in Makati, Philippines, in the Asia region.
How does Dragonpay make money?
Eight revenue lines are on record. Transaction Fees - Online Banking is the primary driver. The others are transaction Fees - Over-the-Counter Banking, transaction Fees - Payment Centers, E-wallet Processing Fees, credit Card Processing, cryptocurrency Payments, installment Payments and merchant Setup Fee.
Who are Dragonpay's main competitors?
Ride is listed as a regional player. Direct peers are PayMongo, Xendit, Maya (PayMaya), GCash, AsiaPay (pesoPay) and 2C2P. UnionBank of the Philippines is listed as a broad incumbent. Emerging players are BillEase and ShopeePay.
Does Dragonpay have an API?
Yes. Dragonpay offers a REST-based Payment API and Mass Payout API for merchant e-commerce sites. The Payment API supports name-value pair parameter passing and XML-based Web Service model. Sample PHP script available for download. Mass Payout API enables sending money to multiple individuals simultaneously via partner banks, disbursement centers, and e-wallets. Developer documentation is at www.dragonpay.ph/developers.
What industry is Dragonpay in?
Dragonpay's product category is Payment Processing / Online Payment Gateway. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services. Its NAICS code is 522320 and its SIC code is 6199.