#FinancePH - Dragonpay eyes growth by providing businesses with more ways to pay!
With government and corporate players focused on speeding its growth and achieving the objective of becoming a cash-lite society as defined by the Bangko Sentral ng Pilipinas, the country's digital payment industry is still thriving (BSP).
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According to its most recent figures, digital payments increased from 20.1% in 2020 to 30.3% of all retail transactions in 2021. According to the BSP Digital Payments Transformation Roadmap, by the end of 2023, at least 50% of retail transactions must be conducted digitally.
Since it continues to offer the widest selection of safe payment solutions to companies of all sizes, Dragonpay, one of the country's early adopters of alternative payments, has been helping to achieve this goal.
Dragonpay has come a long way from its modest beginnings 12 years ago, and it is still optimistic about its future growth and advancement of digital payments. The company's transaction volume over the previous 12 months has increased compared to the same time last year, despite challenges brought on by the pandemic. Over 140 million transactions had been handled by Dragonpay by the end of August this year.
Additionally, the company's workforce increased by 200% during the pandemic alone, and it currently has more than 50,000 payment channel partners, including the nation's major banks with online banking, payment centers, retail businesses, and top e-wallets. With this, Dragonpay has empowered thousands of customers to avail of goods and services and conveniently pay for them through physical and digital channels - from physical, brick-and-mortar payment counters and ATM’s to mobile wallets and online bank debit. It also has over 3,000 partner merchants from different industries including government, schools, retail, groceries, real estate, gaming, tech, food, insurance and more.
Dragonpay’s ever-growing team during a recent company event celebrating its continued growth.
Dragonpay gives its merchants the option to accept well-known cryptocurrencies like Bitcoin, Ethereum, USD Tether, BinancePay, and many others in order to keep up with fintech advancements and the burgeoning e-commerce sector. Dragonpay has partnered with Billease, Cashalo, and Tendopay to offer Buy Now Pay Later services as well.
“We see a continued acceleration of digital payment adoption and we are committed to supporting businesses, especially, small and medium enterprises in keeping up with the latest industry trends and consumer demand. Our customers' growth is our growth and we all play a part in driving the momentum of fintech in the country.” says Robertson Chiang, founder, and chief executive officer of Dragonpay.
With a progressive and forward-thinking mentality at its core, Dragonpay is well-positioned to provide customers and companies more cutting-edge payment options. In 2021, Xendit, a regional services firm supported by notable investors from Silicon Valley and Asia, made a strategic investment in Dragonpay because it recognized its potential. These two fintech pioneers have the same goal in mind: strengthening the Philippines' digital payment infrastructure.
“We are excited to see the fintech sector grow and mature. On our end, we are bent on deepening our foothold in the industry as we see massive opportunities in fueling a digital economy that will be beneficial to business, consumers, and the country as a whole,” Chiang concluded.
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