NomuPay looks to increase merchants in next two years
END-TO-END payment platform NomuPay is looking to expand its partner merchants in the Philippines in the next two years.
“Growth has always been a big part of the NomuPay strategy and there’s no difference with our vision for the Philippines market. This includes growth for our merchants and partners too, which is why we make it easy for other payment partners to integrate with us, so they can offer our solutions to their own customers without a hitch,” NomuPay Managing Director in Asia and Middle East and North Africa (MENA) Danny Makin said in an e-mail interview with BusinessWorld.
NomuPay will also upsize its team in the country to help ramp up digital payments among local merchants and help them expand globally.
“While we aim to grow organically in tandem with market growth, we also have plans to expand our team over the next year, ensuring that we continue to deliver exceptional value and innovation to our partners and merchants alike,” Mr. Makin said.
NomuPay is a licensed electronic money issuer (EMI) operator in the Philippines. Aside from its payment platform functions, it recently expanded its services to include recurring payments, pay by link, open banking and smart dynamic routing.
The payment platform said its merger with merchant services and payment processing solution provider Total Processing in December last year will allow the platform to offer its partner merchants a complete end-to-end payment solution.
“This collaboration will bring so much value to the region, opening up a whole host of opportunities, enhancing the customer experience, boosting authorisation rates, improving the efficiency of the payment ecosystem and so much more,” Mr. Makin added.
“Our ambition for the future is to grow within this region and will be a key focus for us over the next 12 months,” he said.
The company also hopes to contribute to the increasing use of digital payments in the country, he added.
The combined value of transactions done via automated clearing houses PESONet and InstaPay rose by 30.3% to P11.6 trillion at end-November 2023 from P8.9 trillion in the same period in 2022, latest data from the Bangko Sentral ng Pilipinas showed.
In terms of volume, transactions via the two payment systems climbed by 44.8% to 824.856 million in the same period from 569.665 million transactions a year prior.
The company can also help facilitate the rollout and acceptance of central bank digital currencies in some countries, improving cross-border payments, and merging batch payment services, Mr. Makin said.
“We feel our product fits the Philippines’ mission to reduce cash usage and envisioning our services will be a part of the facilitation of this movement,” he said. — A.M.C. Sy
