Spenmo Financial Technology Corporation, the first complete payables software in Southeast Asia is now in the Philippines. Spenmo has been given license by the Bangko Sentral ng Pilipinas (BSP) as a certified Operator of Payment System (OPS) to handle both bill payments and employee spend management in one platform, providing an easy and accessible payables system to fast-growing businesses in the country.
Over the course of the pandemic, use of digital payments have significantly increased among Filipinos. According to a recent report by the Bangko Sentral ng Pilipinas (BSP) on the State of Digital Payments in the Philippines, there has been noticeable growth in the volume of digital payments in the country primarily for business transactions.
“As Spenmo starts its operations in the Philippines, we are looking forward to launching this software to Filipino businesses and be able to aid them in managing and administering their payment networks. With the BSP’s push for tech-powered financial solutions, we are optimistic to see a fast-growing market in the country and expect hundreds more businesses to join this year which is very exciting.” says George Padin, Country Head for Spenmo Philippines.
With Spenmo, companies and finance teams are supported in four (4) key areas: (1) tracking and managing internal spending, (2) bill payments, (3) approval workflow and documenting sign-offs, and (4) accounting reconciliation, which is on data transfer into the accounting software of choice.
Spenmo revolutionizes payables management and operations through a single dashboard which records all payments, giving companies and finance teams the ability to track, categorize spending, and close their books in 90% less time. Across Southeast Asia, Spenmo has already processed more than PHP20 billion in business transactions and doubled their growth every month since entering the market.
Using Spenmo platform, institutions are able to subscribe to a more efficient payment processing system which allows them to enjoy seamless fund transfers regardless of source of destination as well as to initiate, approve, schedule, process, and reconcile every Peso or Dollar in real-time.
Aside from accessible payment solutions, Spenmo also provides unlimited physical and virtual corporate cards for its customers, offering local payments with a flat rate of only PHP 5.00 per transaction along with an international payment that is the most competitive rate in the market.
“Our goal is to empower these growing businesses through a more convenient payment solution network. By giving them better control over their expenses, we are able to help them manage costs more efficiently and develop their businesses even further.” added Padin.
For a complete list of Spenmo’s products and services in the Philippines, you may visit https://www.spenmo.ph/.
