Xendit acquires Dragonpay, expanding global payment options for PH merchants

The deal gives Philippine businesses access to more than 100 international payment methods as the country pushes for a more seamless digital economy.

Local payment system Dragonpay is joining Southeast Asia’s digital payments network as Xendit acquires the Filipino payment platform, opening new opportunities for local merchants to tap international payment systems.

Xendit is an Indonesia-based fintech company that has grown into one of Southeast Asia’s leading digital payment providers. Its acquisition of Dragonpay allows local merchants to access more than 100 international payment methods and financing options available on Xendit.

Dragonpay was founded in 2010 and is now among the country’s leading digital payment operators, primarily serving online and over-the-counter transactions for unbanked Filipinos. Xendit made a strategic investment in Dragonpay in 2021, paving the way for its current acquisition.

The move supports the Philippines’ push towards a seamless digital economy, connecting micro, small, and medium enterprises (MSMEs) to a range of domestic and international payment systems with minimal infrastructure requirements.

As the country also targets more foreign travelers, the integration could help enable smoother cross-border payments, reducing the hassle of foreign currency conversion.

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