FINANCIAL TECHNOLOGY company PayMongo Philippines, Inc. has partnered with billing and collections platform Mochi to allow businesses to improve transaction processing.

“The PayMongo-Mochi partnership delivers a unified solution that eliminates manual processes, enhances transaction security, and optimizes financial operations,” venture capital firm Kaya Founders, which supports the two companies as part of its portfolio, said in a statement.

“This collaboration aims to simplify how companies manage receivables and cash flow, ensuring faster payments and reduced operational inefficiencies as digital payments continue to rise,” it said. “With the Philippines at the forefront of digital financial services adoption, businesses need to adapt to consumer expectations for secure and seamless payment experiences.”

Digital payments in the Philippines are expected to hit $107.42 billion this year, according to German research platform Statista.

The Bangko Sentral ng Pilipinas wants digital payments to make up 60-70% of total retail transactions by 2028.

“Our collaboration with Mochi underscores our commitment to supporting the growth of MSMEs (micro, small, and medium enterprises) and fintech in the Philippines,” PayMongo President and Chief Executive Office Elmer “Jojo” M. Malolos said. “With Mochi’s advanced billing and collections automation integrated into PayMongo’s payments platform, we are empowering Filipino businesses to navigate the digital economy with confidence.”

“This collaboration will provide companies with the tools they need to manage finances effortlessly and focus on growing their business,” Mochi CEO Guaya Melgar added. — B.M.D. Cruz

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