Online financial services driving digital economic growth

“Digital financial services are driving digital economic growth,” said PayMongo CEO Jojo Malolos during the company’s anniversary celebration as he highlighted the significant strides that contributed to the financial performance of the company and the advancement of the Philippine FinTech industry.

“Our refocused vision and the execution of a no-nonsense strategy have propelled PayMongo to contribute to the financial ecosystem. We’ve introduced innovative digital financial solutions that cater to businesses’ diverse online and offline needs,” Malolos added.

He continued, “Our strategic approach, aimed to transform the ‘negotiates’ in the MSMEs segments into digital Filipino entrepreneurs, has proven successful.”

PayMongo chairperson and co-founder Luis Sia acknowledged the company’s strong foundation, built over the past five years, for its ability to weather all its challenges.

“We have already built the foundation that enabled PayMongo to transform from a major player in the FinTech industry in the last five years to become the key driver of Philippine digital economic growth in the next five,” Sia said.

Trust and support

Malolos said PayMongo’s 2023 accomplishments and new direction restored the confidence of key stakeholders, including employees, industry and sector leaders.

“We are setting new standards. We will continue to nurture relationships and fortify the core of PayMongo. We have a renewed passion and a higher sense of purpose to impact our company, the Philippine FinTech industry, and the entire Philippine digital economy by empowering MSMEs,” Malolos added.

To show their trust and support in PayMongo’s transformation, Bangko Sentral ng Pilipinas Deputy Governor Mamerto Tangonan, CEOs and executives of major banking partners, financial services institutions, key partners, and renowned members of PayMongo’s Board of Directors attended the 5th-anniversary celebrations.

Malolos and Sia also expressed their heartfelt gratitude towards the “Beanies,” acknowledging that their unwavering support gives the company the strength and confidence to stay on the right track.

“It’s been an incredible five years. In our early days, we only empowered businesses through digital payments solutions. Today, we are transforming MSMEs and SMEs into active digital entrepreneurs who will join the growing internet economy. Thank you for being with us on this journey. Here’s to the next five years,” Sia said.