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Unlock more Features as you upgrade your Account
Upgrading your Business Type allows you to unlock more features and powerful tools designed to fuel your growth. Review our Account Capabilities guide to learn how to upgrade.

	Individual (Unregistered)	Registered Account (Sole Proprietorship, Partnership, OPC, Corporation)
Available Features	Dashboard Access Wallet & Ledgers API Keys Storefront QRPH In-Store Accept QRPH Payments	Additional Features: Bank & E-wallet disbursements InstaPay & PESONet Transfers Accept payments online (Cards, GCash, Maya, GrabPay, ShopeePay, GooglePay, Direct Online Banking, and BNPL (Billease) Payment Method Eligibility PayMongo Protect Capital
Wallets	Closed-loop Wallet - Manage and send funds to other PayMongo wallets. Enabled Wallet - Manage and send funds to external banks and e-wallets	Send funds to external banks and e-wallets via InstaPay and PESONet. Higher wallet limits & Faster Settlements
Transaction Limits	Wallet limit = ₱50k Cash in = ₱10k monthly	Unlock different Wallet Types and Transaction Limits

Upgrading your business type

Upgrading is its own request. You submit it once, from
Settings > Business Information, and it unlocks every payment method your new
business type is eligible for — you do not upgrade inside a payment method
request.

Go to Settings > Business Information, or click Upgrade now on the
banner at the top of Settings > Payment Methods
Pick your business type
Upload the documents that type requires — see
Account setup — Verification requirements by entity type
Review and submit

You can track the request on the Business Information page. While it is under
review, the Payment Methods page shows its status in a banner. If we need
anything else, the request moves to Action Required and shows a short form
containing only what we asked for.

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Your business type can only be set once. Moving from Individual to a
registered type is an upgrade and is always available. Changing an
already-registered type (for example Sole Proprietor → Corporation) has to be
done by our team — contact [email protected].

Supported Business Types

PayMongo supports a wide range of business types, including:

Individuals

A freelancer or social seller who owns the business. In the Philippine context, these are businesses not registered with DTI

Sole Proprietorships

Registered businesses owned and run by one individual. In the Philippine context, these are businesses owned by a single person and registered with the Department of Trade and Industry (DTI), requiring a DTI Certificate for verification.

Partnerships

Registered businesses owned by two or more individuals. In the Philippine context, these are businesses formed by two or more persons registered with the Securities and Exchange Commission (SEC), requiring Articles of Partnership and a corporate bank account.

One Person Corporations (OPC)

Registered businesses owned by a single individual but with a separate legal personality. In the Philippine context, these are corporations registered with the Securities and Exchange Commission (SEC) under the One Person Corporation framework, requiring Articles of Incorporation and a corporate bank account for payouts.

Corporations

Legally separate entities from their owners. In Philippine context, these are your entities registered with the SEC (separate from its owners/shareholders), requiring Articles of Incorporation and a corporate bank account for payouts.