Paymongo Inks Partnership with Fintech Startup Mochi

Just weeks after announcing a strategic partnership with tech solutions provider Mosaic Solutions, leading local fintech platform Paymongo has now inked a new collaboration with rising fellow fintech startup Mochi to improve payment and billing processes for their clients. According to a news release, the collaboration involves simplifying “how companies manage receivables and cash flow, ensuring faster payments and reduced operational inefficiencies as digital payments continue to rise.” 

In effect, the partnership aims to ensure a unified solution that eliminates manual processes, enhances transaction security, and optimizes financial operations.

The partnership comes just as the country is doubling down on digital payments, which is projected to breach the P100 billion mark this year. In 2023, share of digital payments by value exceeded 55.3 percent, while volume of transactions reached 52.8 percent, according to this year’s Venture Capital Report by Foxmont Capital Partners and Boston Consulting Group.

ALSO READ

Philippine Startup Mosaic Solutions is Acquiring HelixPay

Report: Despite Muted Investment Climate, Deals Actually Reached Record High in 2024

In addition, a whopping 91.3 percent of the Philippine population reported using onliine financial services in 2024, much higher than the global average of just 37.8 percent. 

"Our collaboration with Mochi underscores our commitment to supporting the growth of MSMEs and fintech in the Philippines," said Jojo Malolos CEO of Paymongo. "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." 

“We are thrilled to partner with PayMongo in revolutionizing how businesses handle payments and collections,” Guaya Melgar, CEO of Mochi, added. “This collaboration will provide companies with the tools they need to manage finances effortlessly and focus on growing their business.”

PayMongo is a platform that streamlines payment processes for businesses. It was the first Filipino fintech startup incubated by Y Combinator, an elite seed accelerator based in Silicon Valley. Mochi, meanwhile, is an accounts receivable platform that helps Filipino businesses streamline billing & collections, reduce error and fraud, and provide payment terms to customers.