Homegrown fintech startup NextPay is expanding its digital payment solutions with the introduction of Email Money, the first-of its kind payment service in the Philippines that allows users to transfer money to any bank or eWallet without the need for the recipient’s account details — only an email.
With Email Money, NextPay provides growing businesses with greater convenience when transferring funds, paying suppliers or customers by removing the need to collect and manage their recipient’s bank details.
The new service also adds another layer of privacy, especially for small businesses that use their personal bank accounts for their transactions. It also lessens the instance of human error, as the sender does not need to input long bank account details, reducing the process of manual verification.
“By introducing the country’s first payment service that enables users to transfer money to any bank or eWallet via email, we are empowering NextPay customers to streamline their financial needs and allow them to focus on growing their business,” said Don Pansacola, NextPay chief executive officer.
NextPay expects to ride the growth momentum this recording remarkable growth in 2021, surpassing P1 billion in total transaction volume and growing its customer base by 20x last year.
NextPay plans to introduce more financial tools and services tailored for micro, small and medium enterprises this year, including cryptocurrency services, bills payment, lending and corporate cards.
