Business

PayMongo vs Dragonpay: Which payment gateway is best?

Karthik Rajakumar

26.06.26

Read time 5 minutes

If you’re looking for a payment gateway to manage on and offline transactions for your business, you might have heard of PayMongo¹ and Dragonpay⁶. Both are local Filipino specialists which support the types of payment your customers prefer to make, including digital and in-person transactions.

Choosing between PayMongo vs Dragonpay for your Filipino business? This guide is here to help.

We’ll walk through the features which make each provider stand out, as well as a quick look at how you may also choose to use Wise Business to streamline your international transactions.

Table of Contents
What is PayMongo? What is Dragonpay? Feature comparison Supported payment methods Integration and set up Settlement and payout timelines Pricing and fee comparison Wise Business: Going global beyond local payment gateways

What is PayMongo?

PayMongo is a business financing and payment provider, which offers a full suite of products to take customer payments, access loans, send money to others, and even produce and distribute branded payment cards.

The core services available from PayMongo sit around taking digital payments, allowing customers to pay with local and overseas cards, ewallets, QR, and Buy Now, Pay Later (BNPL) services. PayMongo is a startup-friendly platform with a developer- first API, and has low and no code solutions for digital businesses taking customer payments. PayMongo can also offer instant payment settlement to keep cash flow moving.

What is Dragonpay?

Dragonpay has been serving Filipino businesses for over 15 years already, offering ways to take customer payments via e-wallets, credit cards, online banking, and over-the-counter payment centers.

Where Dragonpay stands out is in the availability of cash transaction options for customers who prefer to manage their payments in person. This gives Dragonpay extensive reach into underbanked communities. Dragonpay partners with banks like BDO, BPI, and Metrobank, as well as stores like 7-Eleven and payment centers like Bayad Center and Cebuana Lhuillier. This may make it easier for digital businesses to reach customers who prefer cash payments.

Feature comparison: PayMongo vs Dragonpay

Either PayMongo vs Dragonpay may be a good fit for your Filipino business, allowing you to take a range of customer payments on and offline. However, they have slightly different feature selections which makes it worth comparing the availability and costs for the services you’ll need the most when deciding on the best fit for your business.

Here’s a comparison of some of the key PayMongo vs Dragonpay features covering customer payment types and other handy features for local businesses:

Feature	PayMongo⁴	Dragonpay⁸
Account fees	No setup or maintenance fee - optional fees for premium services²	No setup or maintenance fee
Digital payment methods	14+ Payment methods including card, bank transfer, QR, e-wallet, Buy Now, Pay Later	Card, bank transfer, ewallet, Installment plan
In-person payment methods	QR PH only	Cash transactions accepted in partner banks and stores
Crypto payments	Not accepted	Accepted
Instant settlement option	Available for a fee of up to 2-3%²	Not available
Other features	Financing, transfers, wallet services²	Recurring payments, API integration, 85+ payment methods

Supported payment methods

PayMongo payment methods focus on digital transactions with the additional option for in-person payments managed through QR code. Here are the most popular PayMongo accepted payment methods:

QR PH online and in stores
Local and international Visa and Mastercard payments
E-wallet payments such as GrabPay, GCash, and Maya
Direct bank payments from BDO, UnionBank, BPI, Landbank, and Metrobank
Payment links and plugins

Dragonpay has a broad range of payment methods, which include taking customer cash payments through its network of partners. Options include:

Online banking transactions from all major banks in the Philippines
Over-the-counter payments through partner banks and stores like 7-Eleven
E-wallet payments such as GrabPay, GCash, and Maya
Credit card payments
Installment plans with Billease
Crypto payments in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT)

For global payments: If you’re managing international transactions for your business, you might find that having an account with Wise Business offers a useful addition to your preferred payment gateway. Wise Business accounts support 40+ currencies all in one place.

Integration and set up

It’s free to sign up for an account with either PayMongo or Dragonpay. Services are offered on a pay as you go basis in most cases, although PayMongo does also offer premium support plans which have monthly charges, calculated as a percentage of your monthly transaction value.

Once you have an account, both providers offer a selection of ways to integrate their payment methods into your on or offline business. You can use the provider’s API, or a third-party integration with Dragonpay, or you can use their no-code solution if you manage your billing by email⁹.

PayMongo also has similar solutions, with the addition of payment links⁵ and a customisable payment page you can use to take different payment types all in one place.

Settlement and payout timelines

PayMongo has a standard 2 to 7 day payment settlement cycle, but also offers an instant settlement feature if you would prefer to be paid more quickly. This feature costs 2% - 3% of the settlement value, depending on the transaction type.

Dragonpay doesn’t state a fixed settlement timescale online. Settlement and payouts may vary depending on the payment type and your specific Dragonpay account plan.

Pricing and fee comparison: PayMongo vs Dragonpay

The way that PayMongo vs Dragonpay manage their fees varies slightly, with a mix of fixed charges, percentage costs, and negotiable fees depending on your relationship with the provider.

We've summarised some of the key costs below, but it’s important to review the provider’s specific fee quotes carefully before signing up for either service:

Fee type	PayMongo²	Dragonpay⁸
Set up fee	No fee	No fee
Online banking payment	0.71% or 13.39 PHP	10 PHP
In-person payment	1.34% through QR Ph	15 PHP for over-the-counter banking and 20 PHP for payment centers
Card payment	Local Visa and Mastercard: 3.125% + 13.39 PHP International Visa and Mastercard: 4.02% + 13.39 PHP	Variable fees
Installment/BNPL	1.34%	2%
7-Eleven payment	Not available	Starts at 15–20 PHP + category-based percentage charges
Mass payout	10 PHP per transaction (through InstaPay or PesoNET)	20 PHP for BDO, BPI, and BPI Family Savings, and 15PHP for other banks and mobile wallets

*Details correct at time of research - 3rd June 2026

The services that PayMongo vs. Dragonpay offer overlap but aren’t the same, and the charging structure adopted by each provider also varies. Dragonpay has more features to support customers who need to pay for services in cash, while PayMongo focuses on digital transactions with a huge range of accepted payment methods.

The right provider for your business will depend on the type of transactions your customers prefer, as well as the overall costs of the transactions. Compare both, looking at costs, convenience, and feature availability to decide which is the right one for you.

Conclusion: PayMongo vs Dragonpay

Both PayMongo and Dragonpay have handy features which will appeal to Filipino business owners. The key to deciding which is the best fit for your company lies in the type of transactions your customers prefer.

If you’re a fully digital business with little need for cash or in-person payment solutions, PayMongo may be a good choice, with simple transparent pricing and a very broad range of digital services including working capital financing.

On the other hand, businesses targeting customers who may prefer cash and in-person payments may benefit from the bank and over-the-counter payment solutions offered by Dragonpay.

Wise Business: Going global beyond local payment gateways

While local payment gateways like PayMongo and Dragonpay are excellent for managing your day-to-day transactions within the Philippines, growing a business often means looking beyond borders.

If your operations involve dealing with international clients, paying overseas suppliers, or managing a global remote team, a Wise Business account helps solve the friction of multi-currency management.

With a Wise Business multi-currency account, you can access over 8+ local account details — far more currency options than the handful most banks offer. Plus, Wise makes it easy to hold, send, receive, and exchange 40+ currencies from a single account.

With the freedom to send and receive payments in more currencies globally, you can focus on what matters most: growing a local business that knows no borders. Here's what you get with a Wise Business account:

Obtain account details to receive payments in USD, EUR, GBP, SGD, HKD and more for a one-time fee of 1,400 PHP.
Zero fees when you get paid via ACH, FAST, InstaPay/PESONet, & other local transfers.
Send money to pay invoices, suppliers & contractors fast, with less fees
Always get the mid-market rate with transparent conversion fees starting from 0.57%.
Pay your bills and ad-hoc overseas expenses using the Wise Business card without hefty foreign transaction fees.
Seamless integrations with popular accounting software.

➡️Get started with Wise Business today

Wise Pilipinas Inc. is regulated by the Bangko Sentral ng Pilipinas. You may visit the BSP website for more information about its regulatory framework and consumer protection policies. To reach Wise, visit help center here.

Sources:

*Details correct at time of research - 3rd June 2026

*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.