Philippine payments company PayMongo is targeting revenue at about four times last year’s level in 2026 while maintaining profitability, as it expands beyond payment-processing fees into subscription and other merchant services.

PayMongo Chief Product and Technology Officer Jose Dalino Jr. told The Philippine Star that the company is on track with its growth target. Its active monthly merchant base is approaching 11,000, according to the report.

The expansion comes as merchant adoption of digital payments continues to deepen in the country. TNGlobal reported in July that Philippine merchant searches related to digital payments and QR Ph had risen sharply over the past several years, based on PayMongo’s analysis of Google Trends data.

Revenue mix broadens beyond transaction fees

PayMongo built its business around payment acceptance for online merchants, providing tools for cards, e-wallets, bank transfers and other digital payment methods. The company is now seeking more recurring revenue from merchant products rather than relying mainly on a percentage of payment volume.

That shift includes subscription-based services and additional tools intended for larger merchants, according to the report. A broader product mix can make revenue less dependent on transaction growth alone, although execution depends on whether merchants are willing to pay separately for software and financial services that may previously have been bundled into payment processing.

The company is also moving up-market while continuing to serve small and medium-sized businesses. Larger merchants generally offer higher payment volumes but also bring greater demands around reliability, settlement, reporting, integrations and pricing.

Profitability remains part of the target

Dalino said PayMongo intends to maintain profitability as revenue grows. That is a notable shift from the earlier growth-at-all-costs model common among venture-backed fintech firms, where payment companies often subsidized merchant acquisition while building volume.

For a payments provider, the durability of profitability depends on more than top-line growth. Processing margins can be thin, and companies must absorb costs related to fraud prevention, compliance, infrastructure, customer support and payment-network fees. Higher-value merchant services can improve unit economics if adoption is strong enough.

Philippine digital payments continue to mature

PayMongo’s growth plans sit within a Philippine market where national QR infrastructure, e-wallets and online commerce have made digital acceptance increasingly common among smaller businesses. As basic payment acceptance becomes less differentiated, providers are competing more heavily on merchant software, financing, analytics and other services tied to transaction data.

For PayMongo, the next test will be whether it can convert its growing merchant base into sustained recurring revenue while retaining the simplicity that helped it gain adoption among smaller businesses. The company’s fourfold revenue target is a management goal and will depend on merchant growth, transaction volumes and adoption of its newer services.

Southeast Asia’s shift to digital payments accelerates as merchant searches jump – PayMongo