JazzyPay

JazzyPay, Inc. is a Philippine-based financial technology company that provides a unified payment gateway for businesses. The company was founded in 2018 by Joshua Marindo and Kathleen Acosta. The inspiration behind JazzyPay stemmed from the co-founders' personal experience with the challenges of inefficient payment methods during a medical emergency, which fueled their mission to ensure essential services have accessible cashless payment options. Based in Makati, Metro Manila, the company primarily targets underserved businesses in the Philippines, with a focus on essential service providers like hospitals, schools, clinics, and medical suppliers.

JazzyPay's business model is centered on providing a low-cost, accessible digital payment system without setup fees, subscription costs, or minimum sales volume requirements. Revenue is generated on a per-transaction basis. The platform enables merchants to accept a wide array of payment methods, including credit and debit cards, online banking, e-wallets, and over-the-counter cash deposits from a global customer base. This approach addresses a critical market need, as a significant percentage of essential service providers in the Philippines traditionally relied on cash or checks. The system is designed for rapid onboarding, allowing merchants to adopt cashless payments within a day, a significant improvement over the months-long process required by traditional players.

A key milestone for the company was securing a $500,000 seed financing round in September 2020, led by Cocoon Capital, with participation from other investors like Techstars and RISE. This funding was aimed at expanding its merchant network and further developing the product. The company holds an Operator of Payment System (OPS) license from the Bangko Sentral ng Pilipinas (BSP) and is PCI DSS Level 1 certified, ensuring high security standards. In a significant development, JazzyPay was acquired by Singapore's ASEAN Fintech Group (AFG) in January 2022 in a deal valued at $1.8 million, with the founding team continuing to lead the Philippine operations.

Keywords: payment gateway, fintech Philippines, cashless payments, online payments, merchant services, digital payments, e-wallet aggregator, payment processing, small business payments, healthcare payments, education payments, secure payments, cross-border payments, mobile payments, Joshua Marindo, Kathleen Acosta, ASEAN Fintech Group, Cocoon Capital, BSP registered, PCI DSS certified