Fintech activity in the Philippines continues to expand, with a growing number of firms delivering e‑wallets, cryptocurrency services and business‑to‑business payment solutions.
PayMongo, a platform that enables merchants to accept credit cards and digital wallets, has become a critical infrastructure for small and medium enterprises seeking to streamline payments.
Following the appointment of Jojo Malolos as chief executive, the company redirected its strategy from pure growth to a model that prioritizes sustainable, revenue‑generating operations.
At the time of his takeover, PayMongo was grappling with high merchant churn, unprofitable margins and investor anxiety after the departure of its founding team.
Malolos instituted a cultural overhaul, insisting that every initiative be “revenue accretive” and that the organization’s purpose be re‑examined from the ground up.
The revamped PayMongo dashboard now provides merchants with real‑time insight into earnings, channel performance and transaction fees, while new offerings such as the Capital product extend financing tied to future sales.
He also eliminated loss‑leading services, stating that any product failing to generate immediate net income would be discontinued.
By late 2025, the company had tripled its transaction volume, posted positive EBITDA and cash flow, and reduced reliance on external capital raises.
The turnaround resulted from restructuring, targeted staff changes and a renewed focus on empowering merchants to grow profitably.
Malolos advises emerging leaders to experiment rapidly and make decisive choices when “the rubber hits the road,” urging them to “grab the bull by the horns.”p
