Android App: Moneygment

You must be wondering… Roch? she’s writing an Android app review? Is this for real?  That was my reaction too when I found out that the event that I attended in doesn’t have their iOS app ready yet.  I was about to say that I’m doomed as I don’t even have an Android device.  How can I review it? But what do I know? Coincidentally, I got a Cloudfone as a gift!  So there is no excuse for me not to review Moneygment.  Their iOS app is in development and I hope they release that soon.

What is Moneygment anyway?

Moneygment is a finance app that provides payment solutions for self-employed individuals and small-to-medium enterprises.  It is a tool that can help those individuals take care of government contributions, tax filings and in the future, bills payment, loan & insurance applications and payments.  More like an all-in-one financial solutions for them.

I’m not self-employed and I do not earn anything from this website so all my government contributions are managed by the company I work for.  On the other hand, I know that there are a lot of self-employed people out there and Moneygment might be a good option for them if they’re looking for a solution to government filings and stuff.  So let me share what I learned by browsing through the app on my new Cloudfone, hehe!

Pay SSS, Philhealth & Pag-IBIG monthly contributions

With Moneygment, an individual or small/medium enterprise can pay their own and their employees’ SSS, Philhealth and Pag-IBIG fund contributions.  All they needed are their SSS, Philhealth & Pag-IBIG numbers.  There are a couple of payment options they can choose from:

• PayPal
• Dragonpay Online Banking
• 7/11
• ECPay Centers

After paying, they can track transactions through the Moneygment app.  The fee for this service is PHP 20 per payment per contribution. I guess the fee is more the convenience that the app is providing by helping clients not needing to line up in payment centres.  Thus, using the saved time for business matters.

Calculate, Pay and File your Taxes

Moneygment also pave the way to file and pay for your monthly, quarterly, and annual taxes.  Apart from this, with the app, you can see the computation of your taxes as well.  This service is not free though. Here is the list of fees that Moneygment is charging the client for tax filing.

Pay your Bills & other Utilities, Apply & Pay for Loan, Apply & Pay for Insurance and Send Money (Not Yet Available)

Lastly, Moneygment plans to roll out bills payments, personal/business loan and insurance applications and payments in the future (according to them, it’ll be available within 2018).

It is important to note though that Moneygment is still in the process of getting accredited by concerned government agencies.  However, of course those agencies are already aware of the service and the Moneygment app. Their processing partners are also recognised & accredited by Philippine government.

As for security, Moneygment prides itself for using SSL encryption to ensure that all data provided remains private and confidential.  They also do not store any financial information such as bank account numbers and credit card details.  All payments are through 3rd party service providers that has already a strong track record of professional service and security (PayPal, Dragonpay, 7/11, and ECPay).

Moneygment do accept inquiries on how to register for a TIN or how to apply for identification numbers, etc via their email (customercare@moneygment.ph).  I only tried out the application but haven’t made any transactions since I pay my government contributions through my employer.  Moneygment looks promising especially for the self-employed.  Hopefully, they get to develop their iOS app soon and get their accreditation completed.

In-app support is through Chat.

Moneygment is developed by TogeTech (TogeTech is an IT firm based in the Philippines that designs and develops mobile-based solutions for Filipinos).  TogeTech specializes in developing solutions that answer the needs and challenges faced by the average Filipino citizen.

P.S. The Cloudfone is now resting in my drawer, hahaha!  I’ll probably pull it up if I have another app I want to check out in Android.