PayMongo targets fourfold hike in revenue this year
PayMongo is targeting revenue equivalent to four times last year’s level in 2026 as it expands beyond payment processing fees into subscription services and other offerings, with its monthly merchant base approaching 11,000.
PayMongo, a Filipino financial technology company, aims to quadruple its revenue by 2026 as it broadens its offerings beyond payment processing fees. Speaking to The STAR, PayMongo's chief product and technology officer, Jose Dalino Jr., expressed confidence in achieving this revenue goal while maintaining profitability. Currently, the company has a monthly merchant base of approximately 11,000, with most merchants located in the Philippines.
To meet its revenue target, PayMongo is focusing on expanding its services for merchants and catering to larger businesses, such as digital marketplaces and other financial technology companies. Traditionally, the company's revenue has been generated through fees charged for processing payments and transferring funds. However, the company is diversifying its income sources by introducing additional features that businesses can use alongside its payment services.
These features include monthly subscriptions for larger companies seeking advanced functionalities beyond basic payment processing.
The company is also developing tools to help merchants sell products and collect payments. As of September, PayMongo's merchant base has grown significantly, reaching around 11,000 monthly. This growth is attributed to both the addition of new merchants and improved retention rates, as service reliability issues previously caused some businesses to switch platforms.
In addition to serving individual merchants, PayMongo is building relationships with larger digital marketplaces and regional payment providers seeking access to Philippine payment methods. These companies can leverage PayMongo's payment infrastructure to offer services to their customers, expanding its business beyond processing transactions for individual stores. The company also plans to introduce virtual cards and card services for other businesses, further diversifying its offerings and revenue streams.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
