The streamlined end-to-end financial services of NextPay, a homegrown fintech platform, have enabled non-profit organizations to simplify their outreach, fee collections, and fundraising processes.
In a press statement on Tuesday, NextPay Chief Executive Officer and Co-Founder Don Pansacola pointed out that the platform's efficient and seamless services translate to more equitable humanitarian and social programs.
"We believe that NextPay is more than just an all-in-one financial tool for growing businesses in the Philippines. Simplifying fundraising and fund management also allows non-profit organizations to focus on their humanitarian and social projects," Pansacola said.
Likewise, NextPay noted that non-profit organizations utilize its payment acceptance solutions to facilitate its regular membership fees, which are crucial in ensuring the success of its operations, programs, and initiatives.
With digitized payments, accounting and bookkeeping become more efficient, it said.
Nextpay also noted that apart from crisis-related donation drives, this plays a vital role in maintaining the continuity of their day-to-day operations, programs, and initiatives.
For instance, the UP Vanguard, an organization closely associated with the University of the Philippines, has been leveraging NextPay's core services in streamlining its non-profit's operational work.
"Apart from its minimal fees, NextPay is convenient and easy to use. It made my life easier!" UP Vanguard's Judge Advocate General Michaela Marteja said.
Notably, other humanitarian organizations may further use NextPay to pay their suppliers, disburse funds directly to beneficiaries in batches, and distribute their employees' salaries.
To date, NextPay has processed P21.5 million from over 1,500 transactions for its non-profit organization clients.
NextPay is backed by Silicon Valley-based startup accelerator Y Combinator, Singapore-based VC firm Golden Gate Ventures, the Ayala Group's Kickstart, and Gentree Fund, the private investment vehicle of the Sy Family of the SM Group conglomerate, and other investors.