Payments infrastructure company Xendit has integrated Philippine payments provider Dragonpay into its regional platform, giving Dragonpay merchants access to more than 100 payment methods, payouts, cross-border payments and financing.
The announcement does not involve a new acquisition or share transaction, a Dragonpay spokesman told Crowdfund Insider.
Xendit acquired Dragonpay in 2021, and the latest move formally brings he Philippine company into the platform, the spokesman added.
“No shareholders exited as part of this announcement,” he said, adding that there was no change involving earlier investors, including UBX and GMO Global Payment Fund.
The companies did not disclose the financial terms of the 2021 acquisition.
Dragonpay founder Robertson Chiang remains a director and president of Dragonpay Corporation. The spokesman did not confirm whether Chiang still holds an equity stake.
Dragonpay serves 905 merchants and works with 44 partners, including banks, non-bank financial institutions, e-wallets and over-the-counter payment providers.
Founded in 2010, Dragonpay enables consumers, including those without bank accounts or credit cards, to make online payments through online banking, e-wallets and over-the-counter channels at banks, convenience stores and remittance outlets.
Xendit said the integration would allow Philippine merchants to accept more payment methods, send payouts and serve customers outside the country through its regional infrastructure.
The company operates in Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Singapore and Hong Kong. It fully acquired Malaysian payments provider Payex in 2025 and expanded into Thailand in 2024.
Xendit and Dragonpay are registered Payment System Operators regulated by the Bangko Sentral ng Pilipinas.
