Filipino FinTech startup NextPay reached a milestone in 2022, as it achieved Php 3.2 billion worth of transactions in 2022, which is an achievement for the two-year-old company. That translates to an increase of over 200% in user transactions in 2022 compared to 2021. To date, NextPay serves over 3,800 growing businesses.

“We take great pride in achieving this significant milestone, which not only showcases NextPay’s remarkable success but also underscores the success of SMEs in the Philippines. Our optimism regarding the continuous expansion of digital banking solutions in the Philippines remains unwavering,” NextPay Co-founder and CEO Don Pansacola said.

NextPay is a simple and straightforward platform where enterprises can do an end-to-end process of financial operations—collecting money, sending money, and managing money in a more accessible and cost-efficient way. 

For 2023, NextPay is offering a referral program for its users, where they can earn points and reduce transaction fees, along with adjusting the payout period for its merchants from 1x a week to 3x a week. NextPay is also set to add more features in the coming months, which include virtual debit cards for employee reimbursements and corporate online subscriptions, lending and advances with easy accessibility for qualified users, and premium subscription tiers to unlock access to special advanced features.

“NextPay is glad to deliver and simplify banking services to keep up with the trend of digital banking and transactions, empowering businesses and entrepreneurs so they can focus on doing what’s next,” Co-founder and COO Artie Lopez said.