Southeast Asian payments firm Xendit has announced the full integration of Dragonpay, a pioneering alternative payments provider in the Philippines. This strategic move formalizes a partnership that began in 2021, combining Dragonpay’s extensive local network with Xendit’s regional infrastructure. The integration aims to provide Filipino businesses with enhanced payment solutions and greater opportunities for cross-border expansion.
Strengthening a Strategic Alliance
The formal integration builds upon a relationship that started in August 2021 when Xendit made a strategic investment in Dragonpay. This development marks the next logical step in their collaboration, solidifying their shared vision for the Philippine market. The companies will now work together to ensure business continuity while accelerating product innovation for their merchant partners.
Enhanced Capabilities for Filipino Merchants
Merchants using Dragonpay can now access Xendit’s comprehensive platform, which includes over 100 payment methods and robust cross-border capabilities. This provides local businesses with more ways to accept payments and send payouts, simplifying their financial operations. Ultimately, it empowers them to better serve customers both within the Philippines and internationally.
The expanded service suite includes advanced payout systems, access to financing, and a unified infrastructure for managing all transactions. This technological enhancement helps businesses adapt to evolving consumer payment preferences with greater agility. By leveraging Xendit's secure and continuously improving platform, merchants can focus on growth and scalability.
Pioneering Digital Payments in the Philippines
Since its founding in 2010, Dragonpay has been a trailblazer in the Philippines' digital payment sector. It successfully enabled millions of Filipinos, including those without bank accounts, to participate in the online economy. The company's network encompasses 44 partners, including banks, e-wallets, and over-the-counter channels nationwide.
Robertson Chiang, the founder of Dragonpay, affirmed that merchants can expect the same trusted local service they have always received. He noted that this service is now supported by a stronger technology platform and broader regional capabilities. This evolution is seen as a natural progression of a partnership that has proven successful from its inception.
A Vision for Regional Expansion
This integration is a key component of Xendit’s broader strategy to build a unified payments network across Southeast Asia. The move follows the company's full acquisition of Malaysia’s Payex and its expansion into Thailand. It solidifies Xendit's commitment to strengthening its presence and capabilities throughout the entire region.
Moses Lo, co-founder and CEO of Xendit, emphasized the powerful synergy created by this union. He stated that combining Dragonpay’s trusted local network with Xendit’s regional infrastructure gives Filipino businesses the best of both worlds. The primary objective is to help these merchants unlock new opportunities and scale beyond their domestic market.
Supporting a Digitalizing Economy
The announcement is timely, aligning with the rapid acceleration of the Philippines' digital economy. This growth is strongly supported by the Bangko Sentral ng Pilipinas, which is actively promoting the digitalization of payments. The combined strength of Xendit and Dragonpay positions merchants to capitalize on this nationwide digital transformation.
The integration of Dragonpay into the Xendit platform marks a significant milestone for the Philippine fintech landscape. It provides local merchants with a powerful toolkit that blends deep local expertise with advanced regional payment infrastructure. This strategic combination is poised to fuel business growth, drive innovation, and support the continued digitalization of commerce in the Philippines.