Netbank has entered a strategic partnership with PayLoro, combining Netbank’s Banking-as-a-Service (BaaS) infrastructure with PayLoro’s digital payment solutions, according to a LinkedIn post from Netbank.
The companies said the partnership aims to make financial services faster, safer and more accessible for everyday users and businesses.
PayLoro is the fintech platform of eMandarin Ventures, Inc., a Philippine company founded in 2019 and regulated by the Bangko Sentral ng Pilipinas, holding both an Electronic Money Issuer license and an Operator of Payment System designation since 2021.
Its ecosystem supports digital payment acceptance, merchant collections, disbursements, QR and point-of-sale solutions, and enterprise integrations, serving more than 1,300 partnered merchants.
Netbank operates the Philippines’ first fully regulated Banking-as-a-Service platform, built on a rural bank license, offering account opening, payments, disbursements, cards and lending through APIs for fintechs, corporates and other partners.
The company raised a US$344 million Series A round in May 2023, the largest funding round in Southeast Asia outside Singapore that year.
The partnership adds to PayLoro’s recent run of tie-ups.
PayLoro partnered with Ayus, an AI-powered shop-management platform, just days earlier to bring buy-now-pay-later financing to Filipino auto repair shops and their customers.
Featured image: Edited by Fintech News Philippines based on an image by PayLoro via Facebook.
