PayMongo, the leading financial technology platform for Filipino entrepreneurs, recently partnered with Boost Capital, a leader in digital technology solutions, to improve merchant mobility, lower barriers to financial services, and strengthen PayMongo’s position as a dominant player in the Philippines’ fintech space. .
“Together, we are taking a big step in improving the experience of Filipino merchants, making it easier for small businesses to get the financial help they need to grow and succeed,” said PayMongo Chief Executive Officer (CEO) Jojo Malolos about the partnership.
Mr. Malolos emphasized that the core of this partnership is Boost Capital’s advanced AI-powered chat technology, which seamlessly integrates into the PayMongo ecosystem.
“This chat-based platform allows sellers to sign up through standard channels like Facebook Messenger – without the need to download an app or learn new technology,” said Mr. Hello. “For small and medium-sized enterprises (SMEs), this eliminates the usual obstacles of complicated paperwork, lengthy verification processes, and unfamiliar tools.”
Another merchant, Maria L., a restaurant owner, shared her experience with the boarding system: “This was much easier than anything that happened in a US bank. I registered and submitted my documents with a quick chat on my phone. It was quick and hassle free.”
“We listened to merchants who found the on-boarding process very difficult, and with this partnership, we provide a solution that makes it easier,” said PayMongo’s CEO, stressing that merchants can easily log in with a quick chat, upload documents using their account. smartphone, and authorized at the time of recording.
Improved access to finance for Filipino entrepreneurs
Meanwhile, PayMongo founder and Chairman Luis Sia explained that the partnership with Boost Capital reinforces PayMongo’s mission to make financial services more accessible to a wide range of businesses, from start-ups to established businesses.
“By simplifying the onboarding process, many SMEs now have access to valuable financial tools that help them scale up their operations and drive growth,” said Mr. Sia.
“Boost Capital’s technology, combined with PayMongo, simplifies digital transactions through intuitive chat and web-based connectors, removing traditional barriers to entry,” he added.
Mr. Sia said the partnership allows SMEs to navigate the financial system with ease, allowing them to focus on their core business without the usual friction of accessing financial services.
Mr. Sia then pointed out that PayMongo is the leading financial infrastructure platform in the Philippines, offering businesses a wide range of digital financial services to increase their revenue.
“Our services include payment processing, business wallets, and flexible cash solutions, all designed to simplify financial operations for SMEs. PayMongo is dedicated to empowering Filipino businesses by making financial services more accessible, secure, and convenient to use,” he said.
First-to-Market Innovation in Merchant Enrollment
Boost Capital CEO Gordon Peters explained the company’s role in helping entrepreneurs, especially in planning the process of entering the financial services sector.
“By combining Boost Capital’s conversation-driven, AI-powered technology, PayMongo allows merchants to complete their onboarding process in minutes – anytime, anywhere. This simple, fully automated solution speeds up onboarding while ensuring compliance and safety every step of the way,” said Mr. Peters.
“With this new approach, PayMongo is the first among its competitors in the financial space to offer a chat-based experience, setting a new level of ease and accessibility,” said Mr. Peters.
Mr. Peters emphasized that Boost Capital is at the forefront of technology solutions that transform the way businesses go digital and manage customer interactions. It provides financial service providers with white-label ride-hailing programs for loans, savings, merchant acquisitions, and insurance.
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