CICC partners with PayMongo to boost SMEs’ online payment security

By Raymond Carl Dela Cruz, Philippine News Agency

PayMongo is planning to educate its merchants about financial literacy, including cybercrime awareness. (Pixabay photo)

MANILA – The Cybercrime Investigation and Coordinating Center (CICC) has linked with payment gateway PayMongo Philippines Inc. (PayMongo) to protect small and medium enterprises (SMEs) for the five-year duration of the agreement.

In a statement Friday, CICC Executive Director Alexander Ramos said the memorandum of agreement (MOA) signed with PayMongo requires collaboration and support in addressing cybercrimes involving the payment gateway’s stakeholders including clients, executives and employees.

“CICC partners, including both in the government and private sectors, have important roles in the successful prosecution and conviction of cybercrime suspects,” Ramos said.

PayMongo is planning to educate its merchants about financial literacy, including cybercrime awareness.

Under the MOA, the CICC and PayMongo will work on anti-cybercrime programs and campaigns, investigate cybercrimes and improve linkage with other agencies.

Both parties have also agreed to respect confidentiality and data privacy in the implementation of the partnership.

As of July, PayMongo has 15,000 merchants with a total transaction volume of 2.4 million valued at PHP2.5 billion and has been receiving an average of 20 complaints related to scams per month.