HitPay expands payment network in Singapore, Malaysia, and the Philippines
By Gloria Mathias
HitPay, the commerce infrastructure for businesses, has introduced mass payouts starting in Singapore, Malaysia, and the Philippines.
Businesses can now seamlessly pay workers, contractors, partners, and suppliers via HitPay. Marketplaces and platform-based businesses can also securely manage mass payouts with HitPay’s payout APIs. The supported payment networks include FAST in Singapore, RTGS in Malaysia, and InstaPay and PESONet in the Philippines.
HitPay will soon be supporting PayNow payouts in Singapore and DuitNow payouts in Malaysia, and it will launch additional payment rails in 2024. With the introduction of its Payout APIs, HitPay expands its end-to-end payment solutions that streamline online payments, point of sale (POS), and B2B payments.
HitPay’s Payout APIs features include:
- Single API integration with mass payout capabilities: With a single Payout API call, businesses can send payouts to one or multiple recipients without the need for intermediaries.
- Built-in compliance with fraud protection: HitPay’s payout APIs have built-in compliance features, including transaction monitoring and fraud protection.
- Flexibility and Automation: Businesses can set up flexible payout instructions and reconciliation based on their payment preferences.
- Detailed reporting: Businesses receive comprehensive insights on their transactions, enabling better tracking and management of payouts—all on one account.
- 24/7 payouts (available in Singapore and the Philippines): Businesses can send funds with no cut-off times or restrictions. This ensures timely payments, increasing loyalty with partners and platform users, and speeding up access to funds.
HitPay will support additional payment rails in the coming year, expanding its mass payout capabilities to more countries. Upcoming releases in 2024 include domestic payouts in Indonesia, Thailand, Vietnam, and Australia, as well as global cross-border payouts using mass payment networks, e-wallets, and OTC channels.
Alongside the expansion of its domestic payout rails, HitPay will also introduce global cross-border payouts using payment networks, e-wallets, and OTC channels. This will provide businesses with a comprehensive solution for managing payouts in different countries and currencies, with just one integration.
IBSi Daily News Analysis
February 22, 2024
and InstaPay and PESONet in the Philippines.
What makes Bahraini Islamic Finance industry so robustRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage