The partnership lets customers approved with a single government-issued ID spend a credit line at thousands of merchants, with no new setup required from businesses.
MANILA, Philippines — PayMongo and consumer finance platform Skyro announced a partnership today that will give thousands of Filipino businesses access to new customers who can pay with accessible credit.
Customers approved for a Skyro credit line will be able to spend it at QR Ph merchants through PayMongo’s network and regulated capabilities, helping narrow the gap between the rapid adoption of digital payments and access to formal consumer credit in the Philippines.
Customers can apply for Skyro’s financing products using just one government-issued ID, without needing an existing credit card or traditional bank credit history. Its SkyroCredit product gives approved customers access to a reusable digital credit line designed for everyday spending.
For businesses on PayMongo's network, the arrangement requires nothing new. Merchants continue accepting QR Ph exactly as they do today, with no additional terminal, integration or enrollment, while a growing group of customers arrives with credit already approved. For a merchant, that means a wider base of customers able to complete a purchase rather than defer it.
Through its collaboration with PayMongo, Skyro will also broaden digital repayment options across its products, including payments through online banks and e-wallets.
The partnership targets a credit gap as Philippine payments digitised faster than Philippine credit.
Only 1 in 20 Filipino consumers holds a credit card, TransUnion reported in October 2025, and the BSP’s 2025 Financial Inclusion Survey found that 25% of adults borrowed at all with just 16% borrowing from a formal source.
Payments, meanwhile, have moved decisively digital. Digital payments made up 57.4% of retail payment transactions by volume in 2024, according to the Bangko Sentral ng Pilipinas (BSP), passing the regulator’s 50% target. On PayMongo’s platform, QR Ph accounted for 55% of total payment volume in H1 2026, surpassing credit cards, reflecting how quickly account-based payments have become the default.
“Skyro has built the credit, and we have built both the places to spend it and the rails to move it," said PayMongo CEO Jojo Malolos.
"Lenders and fintechs increasingly come to us for the payments infrastructure that carries money across the lending lifecycle, so they can focus on their product instead of building every payment rail themselves. What this partnership does is put a Skyro credit line in front of thousands of Filipino merchants already running on PayMongo. We are giving those businesses customers who can actually afford to buy."
The partnership reflects a growing part of PayMongo’s business: providing the payments infrastructure that lenders and fintechs use to move money across the lending lifecycle – from disbursing funds and accepting payments at merchants to collecting repayments. Rather than building and maintaining each payment rail themselves, these companies connect to PayMongo’s regulated infrastructure and focus on their own products.
The arrangement runs in both directions: Skyro extends its reach into PayMongo's merchant network without building acceptance itself, while PayMongo's merchants gain customers with credit to spend.
Skyro, which has issued more than 2 million product loans in the Philippines, makes credit decisions differently from traditional lenders, using data analytics and a digital-first application process to reach customers without formal credit histories.
"Building good, sustainable payments infrastructure is the foundation for financial services to reach customers who are unbanked or underbanked. For us, this is not only about lending; we are moving in the direction of financial services Filipinos can use on a daily basis, and more frequent transactions need more reliable infrastructure,” said Skyro Co-Founder and Co-CEO Nasim Aliev.
The partnership supports the BSP’s broader agenda of expanding digital payments and advancing financial inclusion. For PayMongo and Skyro, the opportunity is to bring those two goals closer together: making digital transactions easier while widening access to responsible credit for Filipinos who remain underserved by traditional financial products.
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About PayMongo
PayMongo Group is a fintech company that provides a financial operating system for growing businesses in the Philippines. It enables merchants to accept payments, move money, and borrow capital through a single, unified platform. From startups and SMEs to enterprises, thousands of Filipino merchants across retail, food, e-commerce, and services trust PayMongo to run their financial infrastructure. PayMongo is regulated by the Bangko Sentral ng Pilipinas (BSP), is PCI-DSS 4.0 and SOC 2 Type 2 certified, and recently won Fintech Initiative and SME Solution categories at the Asian Banking & Finance Fintech Awards 2026.
About Skyro
Skyro is a fast-growing SEC-registered financial technology company in the Philippines dedicated to providing accessible, flexible, and customer-centric consumer finance solutions. Leveraging advanced data analytics, artificial intelligence, a digital-first platform, and an extensive retail partner network, Skyro offers product loans, cash loans, and a digital credit line designed to help Filipinos access credit in ways that fit their needs, lifestyles, and financial journeys.