Founded in 2019, PayMongo has grown into one of the Philippines’ most trusted fintech partners, helping thousands of businesses streamline their financial operations. With a mission to empower fast-growing businesses—from startups to large enterprises—PayMongo provides the rails to accept payments, manage cash flow, and unlock capital, all from a single platform.

As PayMongo scaled rapidly, the need for fast, secure, and automated onboarding became critical—not just to support growth, but to provide a world-class experience from the very first touchpoint.

The Challenge: Scaling Merchant Onboarding Without Compromising Trust

Before adopting digital onboarding, PayMongo’s merchant acquisition was bottlenecked by friction-heavy processes. Manual document checks and identity verification led to:

• Drop-offs during onboarding

• Longer turnaround times for merchant activation

• Higher operational costs

• Limited scalability during growth spikes

In short, the onboarding process wasn’t keeping pace with the speed of the business.

The IDfy Partnership: Turning Signups Into Activated Merchants—Fast

PayMongo partnered with IDfy to streamline digital onboarding with automated document verification, identity checks, and real-time decision-making. By embedding IDfy into its onboarding flow, PayMongo created an almost invisible verification layer—one that merchants barely notice, but one that quietly powers a more secure and seamless onboarding experience.

The result? What used to take days now takes minutes.

Since implementation, PayMongo has scaled its onboarding engine from 500 to over 2,000 merchants monthly, without expanding the team or sacrificing risk controls.

“From a merchant’s point of view, signing up is as easy as sending a message. They’re able to activate and start accepting payments in minutes, not hours or days.”

Let’s break down how this looks on a typical day with 100 sign-ups:

• 94% Auto-Processed: Thanks to real-time document validation and intelligent workflows, most applications never require human touch.

• 84% Auto-Approved: IDfy’s engine catches mismatches and guides users to correct errors in real time, ensuring frictionless approvals for clean applications.

• 10% Auto-Rejected: Risky or fraudulent attempts are blocked instantly—safeguarding PayMongo’s platform and reputation.

• 6% Sent for Manual Review: Only the edge cases make it to a human analyst, drastically reducing operational overhead.

Real Impact: Lower CAC, Higher Efficiency, Better CX

By automating verification, PayMongo has:

• Reduced Customer Acquisition Costs (CAC) by minimizing manual review

• Increased Conversion Rates at the onboarding stage

• Strengthened Platform Trust through proactive fraud mitigation

• Maintained Lean Ops while scaling 4x

The onboarding experience isn’t just a formality—it’s the moment of truth. It sets the tone for how merchants perceive the brand and influences whether they’ll stay or churn. With IDfy, PayMongo ensures that every first impression feels modern, effortless, and secure.

PayMongo's story is a testament to the power of digital onboarding solutions. By partnering with IDfy, they've unlocked new levels of efficiency and customer satisfaction, solidifying their position as a leader in the Philippine payment processing industry.

About PayMongo

PayMongo is the Philippines’ financial operating system for modern businesses. From accepting payments to disbursing funds and accessing capital, PayMongo helps thousands of companies run their financial stack with confidence. Through powerful APIs and no-code tools, PayMongo supports credit/debit cards, e-wallets, QR Ph, online banking, and more—allowing businesses to scale faster without growing overhead.

Sign up for free at www.paymongo.com