PayMongo, a pioneer in financial technology for Filipino businesses, has reached two critical milestones in its mission to empower merchants with secure, efficient, and scalable digital payment solutions.
First, the fintech leader has earned the SOC 2 Type 2 certification, demonstrating its commitment to data security and operational excellence. The second milestone is the launch of the PayMongo Soundbox, an innovative device designed to elevate in-store QR payment experiences.
PayMongo: Building trust through SOC 2 Type 2 certification
The SOC 2 Type 2 certification, an esteemed standard developed by the American Institute of Certified Public Accountants (AICPA), evaluates organizations on key principles such as security, availability, processing integrity, confidentiality, and privacy.
Achieving this certification required the payment processing platform to undergo rigorous independent audits over an extended period, showcasing its ability to protect customer data and maintain robust operational processes.
“As businesses increasingly operate in digital spaces, maintaining trust is essential. Achieving SOC 2 Type 2 certification underscores our dedication to fostering this trust,” said Jonathan Gucor, Head of Information Security at PayMongo. “Security isn’t just a requirement for us — it’s a fundamental pillar of our operations.”
This milestone enhances PayMongo’s position as a reliable partner for businesses seeking secure financial solutions. With SOC 2 Type 2 certification, PayMongo assures merchants that their sensitive data is protected, systems are scalable, and operations align with international compliance standards.
In 2023, the payment processing platform also teamed up with Robinsons Bank Corporation, owned by Gokongwei, to assist micro-, small and medium-sized businesses (MSMEs) in their digital payment requirements through creative and straightforward solutions.
The PayMongo Soundbox: Redefining in-store payments
The payment processing platform further strengthens its commitment to Filipino merchants with the launch of the PayMongo Soundbox, an innovative device that simplifies in-store QR payments. Inspired by similar deployments in markets like India, the Soundbox introduces real-time audible notifications for successful transactions, alleviating concerns over payment status.
“The Soundbox provides merchants with a seamless way to accept payments confidently while enhancing the customer experience,” stated Jojo Malolos, CEO of PayMongo, in a press release. “It’s about giving businesses the tools to focus on growth, not operational hurdles.”
The Soundbox is particularly suited to high-traffic environments such as retail stores, restaurants, and supermarkets, where quick and accurate payment confirmations are crucial. By automating transaction notifications, the device reduces operational complexity and enables business owners to concentrate on scaling their ventures.
Empowering growth for SMEs and beyond
Designed for small and medium-sized enterprises (SMEs), the Soundbox addresses a critical need for scalable solutions in the transition from cash-based transactions to a digital-first economy.
It also supports high transaction volumes and streamlines operations, making it an invaluable tool for businesses navigating the fast-evolving digital landscape.
PayMongo’s innovations, from earning the SOC 2 Type 2 certification to launching the Soundbox, underscore its dedication to fostering growth and efficiency among Filipino businesses.
These advancements align with PayMongo’s broader vision: to build a robust financial operating system that empowers enterprises to thrive securely in today’s dynamic economy.
Shaping the future of Filipino business
As the first fintech in the Philippines to introduce a product like the Soundbox, PayMongo cements its reputation as a trailblazer in payment innovation.
Its ability to adapt global best practices for local needs reflects a deep understanding of the Filipino market and a steadfast commitment to supporting businesses of all sizes.
“With these achievements, we’re not just advancing technology — we’re building trust and enabling growth,” Malolos added. “By continuing to prioritize security, reliability, and user-friendly solutions, PayMongo is paving the way for a future where Filipino businesses can scale with confidence.”
A unified vision for the PH’s digital economy
PayMongo’s twin milestones highlight its role as a leader in driving digital transformation in the Philippines.
The SOC 2 Type 2 certification assures merchants of world-class security standards, while the Soundbox bridges the gap between consumer preferences and merchant needs.
As Filipino entrepreneurs embrace the shift to cashless transactions, PayMongo’s solutions offer the reliability and scalability needed to compete in a global economy.
Through innovation and unwavering dedication, PayMongo is helping create a future where businesses can scale securely and confidently, driving economic progress across the nation.
