PayMongo streamlines merchant onboarding via Boost Capital

PayMongo, a leading financial technology platform for Filipino entrepreneurs, has recently partnered with Boost Capital, a notable firm involved in digital technology solutions, to streamline merchant onboarding, lower barriers to financial services, and reinforce PayMongo’s position as a top player in the Philippines’ fintech space.

“Together, we’re taking a big step towards improving the onboarding experience for Filipino merchants, making it easier for small businesses to access the financial services they need to grow and succeed,” according to PayMongo Chief Executive Officer Jojo Malolos regarding the partnership.

Malolos emphasized that at the core of this collaboration is Boost Capital’s advanced, AI-powered chat technology, which seamlessly integrates into PayMongo’s ecosystem.

“This chat-based platform allows merchants to sign up through familiar channels like Facebook Messenger—without the need to download an app or learn new technology,” Malolos said “For small and medium-sized enterprises (SMEs), this eliminates the traditional barriers of complicated paperwork, lengthy verification processes, and unfamiliar tools.”

One merchant, Maria L., a restaurant owner, shared her experience with the onboarding system: “This was so much easier than any of my US bank experiences. I signed up and submitted my documents through a quick chat on my phone. It was fast and hassle-free.”

“We’ve listened to merchants who find the onboarding process overwhelming, and through this partnership, we’re providing a solution that simplifies it,” PayMongo CEO said, highlighting that merchants can easily onboard through a quick chat, upload documents using their smartphone, and be approved in record time.

Enhanced financial access for Filipino entrepreneurs

Meanwhile, PayMongo Co-Founder and Chairperson Luis Sia explained that the partnership with Boost Capital reinforces PayMongo’s mission to make financial services more accessible to a wider range of businesses, from startups to established enterprises.

“By simplifying the onboarding process, more SMEs can now access essential financial tools that help them scale their operations and drive growth,” Sia said.

“Boost Capital’s technology, integrated with PayMongo, simplifies digital transactions through intuitive chat and web-based interfaces, removing traditional barriers to financial entry,” he added.

Sia said that collaboration allows SMEs to navigate the financial system easily, allowing them to focus on their core business without the usual friction of accessing financial services.

He then pointed out that PayMongo is a leading financial infrastructure platform in the Philippines, offering businesses a comprehensive suite of digital financial services to boost their revenue.

“Our services include payment processing, business wallets, and flexible capital solutions, all designed to simplify financial operations for SMEs. PayMongo is dedicated to empowering Filipino businesses by making financial services more accessible, secure, and user-friendly,” he said.