HitPay, the commerce infrastructure for businesses, introduces mass payouts starting in Singapore, Malaysia, and the Philippines.
Businesses can now seamlessly pay workers, contractors, partners, and suppliers via HitPay. Marketplace and platform-based businesses can also securely manage mass payouts with HitPay’s Payout APIs.
Supported payment networks include FAST in Singapore, RTGS in Malaysia, as well as InstaPay and PESONet in the Philippines.
HitPay will soon be supporting PayNow payouts in Singapore and DuitNow payouts in Malaysia, and 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.
One Payout API for Mass Disbursements
HitPay’s Payout APIs help businesses streamline operations and improve cash flow efficiency, with features including:
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. HitPay is a registered operator of a payment system (OPS) regulated under the Bangko Sentral Ng Pilipinas (BSP), and is regulated by the Monetary Authority of Singapore (MAS).
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 currently enables domestic mass payouts in the following countries:
Singapore, via FAST. Support for PayNow payouts is coming soon
Malaysia, via RTGS. Support for DuitNow payouts is coming soon
Philippines, via InstaPay and PESONet
Additional Payout Networks Coming in 2024
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.
Domestic Payouts in Indonesia, Thailand, Vietnam, and Australia
HitPay will introduce domestic payouts in additional countries, including:
Indonesia (via BI-FAST)
Thailand (via PromptPay)
Vietnam (via NAPAS)
Australia (via PayID)
Additional payment networks will be announced in the coming year.
Global Cross-Border Payouts
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.