Leading Singapore FinTech firm Moolahgo, now offers a Philippine Peso (PHP) Virtual Bank Account (VA) service, marking an expansion of its innovative digital finance service platform that complements Moolahgo’s existing multicurrency VA offering. The new offering delivers transformative capabilities to businesses and other financial institutions aiming to enter or scale within the fast-growing Philippines market. 

With this launch, Small and Medium-sized Enterprises (SMEs), as well as large corporations and financial institutions, can now invoice and receive payments from clients in the Philippines in the local PHP currency, thus reducing the complexity, cost and time traditionally associated with cross-border transactions. 

“The speed and simplicity of receiving funds in real time through our PHP VA gives companies the financial agility they need in today’s fast-moving market,” opined John Hakim, founder and CEO of Moolahgo. “It’s an important enabler of regional inclusion and economic growth — a means to tear down obstacles and barriers to trade between Singapore and the Philippines.” 

A Game-Changer for Regional Trade and Digital Commerce

Moolahgo’s PHP VA allows Filipino clients to pay in local currencies using popular local payment networks such as Pesonet and Instapay, while sellers receive the payment directly, instantly and securely into their accounts. This breakthrough removes the need for buyers to convert PHP into United States Dollars (USD) or other currencies, reducing the time and cost involved, as well as minimizing foreign exchange uncertainty. 

By streamlining the payment flow, Moolahgo empowers: 

• E-commerce sellers to serve Filipino buyers without additional platform fees, or currency obstacles 
• Service providers (freelancers, designers, consultants and developers) to invoice and get paid by clients in PHP  
• Large corporations to manage Philippine-based operations more efficiently with local currency accounts for collections and treasury operations 
• Financial institutions to provide their clients with PHP Virtual Account services on a white label basis 

Leveling the Playing Field for SMEs 

For many SMEs, the complexity of cross-border payments has historically made expansion into neighboring countries unfeasible. Moolahgo’s PHP VA service removes these barriers by: 

• Reducing transaction costs and risk exposure 
• Simplifying business operations and allowing invoicing in local currency 
• Accelerating cash flow cycles and expediting the sale process 

Now, even small businesses can reach the over 100 million-strong Philippine market with the same efficiency once only available to multinational corporations. 

Leveling Up Services for Financial Institutions 

Trusted by leading global financial institutions to manage high-volume, high-frequency bulk payments, Moolahgo, a MAS-licensed Major Payment Institution, empowers partners with its secure and reliable PHP Virtual Account service. Designed for seamless white-label integration, the solution enables financial institutions to enhance their service offerings under their own brand, while leveraging Moolahgo’s robust and proven award-winning payment infrastructure. 

Supporting Growth in Asia Through Fintech Innovation 

Moolahgo’s PHP VA is part of the company’s ongoing commitment to financial inclusion, regional economic integration, and the empowerment of businesses across Asia, and in particular within ASEAN. 

In a world increasingly disrupted by tariffs, inflation, and geopolitical tensions, seamless access to new markets is critical. Moolahgo’s suite of digital financial services including multicurrency accounts, real-time competitive FX and cross-border payments offers businesses the tools they need to thrive. 

For more on Moolahgo and the Philippine Peso Virtual Account service, please connect with us at marketing@moolahgo.com