Company Overview
About HitPay
HitPay is a Singapore-based all-in-one payment infrastructure company serving small and medium businesses across Asia-Pacific — enabling merchants to accept payments via QR code (PayNow, DuitNow, PromptPay), card (Visa, Mastercard), digital wallets (GrabPay, ShopeePay, Apple Pay, Google Pay), online checkout, and recurring billing through a single platform with no setup fees and simple pricing. Founded in 2017 and backed by $21.3 million including a $15.75 million Series A led by Tiger Global and Sequoia Capital India, HitPay serves 10,000+ merchants across Singapore, Hong Kong, and broader APAC markets.
Business Model & Competitive Advantage
HitPay's multi-rail payment acceptance is particularly valuable in Southeast Asia where payment fragmentation is extreme — each country has dominant local payment methods (PayNow QR for Singapore, DuitNow for Malaysia, PromptPay for Thailand, QRIS for Indonesia) alongside global card schemes and a rapidly growing roster of super-app wallets (GrabPay, ShopeePay, Lazada Wallet). Supporting all of these through a single integration saves SMBs from managing separate payment provider relationships and allows them to serve any customer regardless of payment preference.
Competitive Landscape 2025–2026
In 2025, HitPay competes in the APAC SMB payments market with Stripe (global but less APAC-specialized), Xendit (Indonesian payment infrastructure), Adyen (enterprise-focused), and local payment aggregators in each APAC market for merchant payment acceptance. Tiger Global and Sequoia India's backing reflects the large APAC SMB payment opportunity — Southeast Asia has hundreds of millions of consumers with high mobile payment adoption and millions of SMB merchants that need modern payment infrastructure. The 2025 strategy focuses on deepening market penetration in existing APAC markets, adding the financial services layer (lending based on payment data, business bank accounts, payroll) that expands revenue per merchant, and growing the e-commerce checkout integration for online merchants.
Recent Activity
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Emerging Innovator
HitPay is an emerging player bringing innovative solutions to the Finance market.
Frequently Asked Questions
Estimated Visibility Trend (Beta)
Simulated 8-week rolling score
Based on estimated brand signals. Historical tracking coming soon.
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