Local payment processor Dragonpay quietly celebrated its 10th year in October, thankful for both unexpected blessings while having the chance to help others in these uncertain times.
Its founder and CEO Robertson “Dick” Chiang says it was something that no one could have predicted. “If anyone asked me last year what my plans were for both the immediate and long term, I would have given a totally different answer.” Instead of the traditional celebration to mark their company’s milestone, Chiang says.
Chiang pointed out that because of the global pandemic caused by the coronavirus or COVID-19, businesses big and small were forced to adopt an online strategy to survive. While it is every businessman’s goal to have a digital footprint at some point in their corporate existence, the pandemic hastened their plans to do so.
Even those that found themselves suddenly out of work found a lifeline by selling various products and services online. And it is here where the financial technology (fintech) industry has managed to thrive, including Dragonpay. In fact, Dragonpay has seen more than a 3-fold increase in transaction volume during the quarantine period this year compared to pre-pandemic.
Looking forward, Dragonpay says it aims to continue helping both the private businesses and government agencies by continuing to be the leader in providing a secure payment system for a seamless flow of transaction, whether for financial or social services.
There are also continuous plans to develop more ways to be able to help the micro and small businesses to procure payments from various entities even without credit cards, such as their escrow service that allows buyers and sellers to secure the payment until all their conditions are met.
Despite their success in being the country’s industry leader in one of the fastest-growing niches in the fintech world, Dragonpay says its focus will remain in servicing in the Philippine market, before expanding its reach globally. Because in doing so, they also help the country leap forward to be at par with the rest of its neighboring countries.
This year, Dragonpay has decided to forego a lavish Christmas celebration and will instead use their funds to help World Vision for their “Ituloy Natin Ang Pasko” campaign in which Noche Buena will be provided for selected families in Malabon and Baseco on Christmas eve.
Furthermore, Dragonpay is also committed to continue to provide a secure platform for e-commerce and online banking transactions, so people can pay for basic necessities, transfer and receive funds from their banks and e-wallets while staying safely at home.
