Month: July 2019

PayMongo is putting payments in the hands of Pinoys

For the first time since 2013 and for only the second time ever, the Philippines has produced a startup entering the world’s premier accelerator, Y Combinator. From Manila to Mountain View, PayMongo is a FinTech startup looking to help local entrepreneurs and merchants to better their payment infrastructure — modernizing payments for the Philippines in a rapidly transforming digital economy. Founded in March of 2019, the quickly growing start-up has no shortage of all-star founders: starting with MIT-educated, Leyte born-and-raised CEO Francis Plaza to co-founder and lawyer Edwin Lacierda, a former Presidential Spokesperson under President Benigno Aquino. The Philippines has no shortage of company after company looking to revolutionize the payments sphere. FinTech is booming with its ability for rapid adoption amongst the growing digital economy that Filipinos from every social background are seeking to partake in. With mobile and internet penetration at over two-thirds of the population with no signs of stopping: virtually every Filipino is part of the market. However, financial access still remains a challenge for many — which is why many …