NextPay, a homegrown financial technology startup backed by the Sy family and the Ayala Group, said Tuesday said it is targeting medical professionals for its end-to-end digital financial solutions to help them collect and send money and manage their finances.
“We see a huge potential in tapping the independent medical professionals market, as the budding sector continues to grow along with the accelerated digital transformation of the Philippines,” NextPay chief executive and co-founder Don Pansacola said.
“Medical professionals that engage in telemedicine and onsite consultations can leverage NextPay’s platform to run their daily operations effectively, allowing them to focus on serving their patients instead of managing their business finances,” he said.
NextPay enables doctors and other healthcare professionals to accept payments from different channels—QR codes, eWallet, debit, credit and direct bank transfers—providing them and their patients flexibility and greater convenience.
NextPay users in the medical field can also keep track of their business activities using a digital ledger that integrates all of their transactions, enabling them to manage their finances more efficiently and accurately.
Several medical professionals have signed up with NextPay to avail of the different benefits it offers, including increased transparency and security, constant growth, and customer-centric solutions.
A spike of 170 percent in teleconsultations was recorded in 2020, brought about by the implementation of a remote setup due to the pandemic. However, even with the lifting of health protocols, telemedicine is still a common practice among hospitals and clinics.
“By providing them with the right tools and services, we are able to empower independent medical professionals to integrate digital finance into their daily operations. Our drive to provide them with digital financial solutions is aligned with our goal of putting the power of big banks to growing businesses,” NextPay chief experience officer and co-founder Aldrich Tan said.
NextPay is backed by Silicon Valley-based startup accelerator Y Combinator, Singapore-based venture capitalist Golden Gate Ventures, the Ayala Group’s Kickstart and Gentree Fund, the private investment vehicle of the Sy family of the SM Group conglomerate and other investors.