NextPay is a digital banking platform that enables small businesses and entrepreneurs in the Philippines to execute hassle-free payouts to over 70 banks and e-wallets without requiring a corporate bank account. The platform streamlines payment processes by allowing bulk disbursements and automated tracking, eliminating the need for time-consuming manual transactions.
Funding
$1.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+2Founders
Product
Problem
Small businesses in the Philippines often face challenges in efficiently disbursing payments to numerous recipients due to the complexities of dealing with multiple banks and e-wallets. Traditional methods involve manual transactions and reconciliation, which are time-consuming and prone to errors, especially without a corporate bank account.
Solution
NextPay offers a digital banking platform designed to streamline payouts for Philippine SMEs and entrepreneurs, enabling them to send money to over 70 banks and e-wallets. The platform simplifies the payment process by facilitating bulk disbursements and automated tracking, thereby reducing the need for manual intervention. Users can schedule payouts, manage recipient details, and generate reports, all within a secure and BSP-regulated environment. NextPay eliminates the requirement for a corporate bank account and average daily balance, making it accessible to a wider range of businesses.
Target Audience
The primary target audience includes small to medium-sized enterprises (SMEs) and entrepreneurs in the Philippines who need a streamlined solution for managing and executing payouts to employees, suppliers, and other recipients.
Features
- Bulk payout functionality to send payments to multiple recipients in a single transaction.
- Automated payment scheduling for recurring payouts.
- Supports payouts to over 70 banks and e-wallets in the Philippines.
- Business directory to store and manage payout details for future reference.
- Real-time payout tracking and reporting.
- BSP-regulated platform ensuring secure transactions.
- No requirement for a corporate bank account or maintaining an average daily balance.