PayMongo’s seed round will be used for hiring, product development, business acquisitions and strategic partnerships. Moreover, the company aims to integrate all options to its platform including credit cards, e-wallets and cash.
PayMongo has already partnered with several financial institutions, and its technology, including a payments API that Plaza says can be set up in minutes, is designed to be user friendly. Because many online merchants in the Philippines sell through social media platforms and messaging apps, like Facebook, Instagram, Viber and WhatsApp, PayMongo also provides customizable payment links that they can send to customers.
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