Quick Answer: For Singapore SMBs that send invoices and need local payment acceptance — PayNow, GrabPay, ShopeePay, and BNPL — HitPay charges no monthly fee and settles in SGD next business day. Airwallex has invoicing functionality but starts at SGD 79/month and is built primarily for multi-currency treasury, not local retail checkout. If invoicing and local payment acceptance are the core need, HitPay is the purpose-built option.

Two of the most commonly compared platforms for Singapore SMBs serve fundamentally different purposes. HitPay is a Monetary Authority of Singapore (MAS)-licensed payment gateway (PS20200643) built around local commerce — in-store QR, online checkout, invoicing, and point-of-sale. Airwallex is a global financial platform whose core product is multi-currency accounts, international transfers, and corporate cards. The overlap between them is narrower than most comparison searches suggest.

Understanding which platform fits a given business requires a clear read of fees, invoicing tools, supported payment methods, and payout behaviour — not just brand recognition.

What Does Each Platform Actually Cost?

Fee structure is where HitPay and Airwallex diverge most sharply.

HitPay charges no monthly fee, no setup fee, and no minimum volume requirement. Merchants pay per transaction only. For current card rates, see hitpayapp.com/pricing. PayNow transactions carry a separate low per-transaction rate with no interchange component — making it one of the most cost-efficient payment methods for high-volume SGD commerce.

Airwallex operates on a subscription model. The entry-level Explore plan is free but limited. The Grow plan costs SGD 79/month, and the Accelerate plan starts from SGD 399/month. Per-transaction fees apply on top for payment processing, foreign exchange, and card spend. For businesses processing modest volumes, monthly plan costs can exceed the transaction savings.

For a Tiong Bahru café or a Bugis streetwear label processing a few hundred transactions monthly, fixed monthly fees compress margins without delivering proportional value — unless global treasury features are actively used.

How Do the Invoicing Capabilities Compare?

Invoicing is a critical workflow for service businesses, freelancers, and B2B sellers in Singapore. The two platforms take different approaches.

HitPay’s invoicing tool generates payment-enabled invoices that customers settle via a payment link. Invoices support PayNow, GrabPay, ShopeePay, Atome, ShopBack Pay, and card payments — the full local method stack. Merchants can send invoices that accept PayNow and card payments on WhatsApp and Instagram, which matters for social commerce operators common in Singapore’s F&B and retail sectors. Receipt and invoice customisation is available natively within the dashboard.

For businesses handling B2B billing across currencies, HitPay also supports multi-currency invoicing for Singapore businesses — useful for agencies and consultancies billing overseas clients.

Airwallex offers payment links and a checkout product, but its invoicing is oriented toward businesses that already hold Airwallex accounts and transact in multiple currencies. Local e-wallet acceptance on Airwallex invoices is not a primary feature; the platform’s strength is moving money across borders efficiently, not collecting SGD via GrabPay or ShopeePay.

What Payment Methods Does Each Platform Support in Singapore?

This is the most operationally significant difference for Singapore merchants.

HitPay supports 50+ payment methods in Singapore, including:

• QR / Instant: PayNow

• Wallets: GrabPay, ShopeePay

• BNPL: Atome, ShopBack Pay, GrabPay PayLater

• Cards: Visa, Mastercard, Amex, Apple Pay, Google Pay

• Cross-border wallets: WeChatPay (China), UPI (India), PromptPay and TrueMoney (Thailand), DuitNow (Malaysia), QRIS (Indonesia), QR Ph (Philippines), KakaoPay / PayCo / LINE Pay (South Korea), Rabbit LINE Pay (Thailand)

Cross-border wallet activation completes within 3–5 business days after submission — relevant for merchants in Orchard Road retail or Jurong East malls with significant tourist footfall.

Airwallex’s Singapore checkout supports card payments and bank transfers across 20+ currencies, with access to a broader global catalogue. However, PayNow integration and local e-wallet support — the payment methods Singaporean consumers reach for first — are not Airwallex’s primary offering for merchants.

For a deeper look at how local and cross-border payment methods interact at the checkout level, the guide to online payment methods in Singapore covers consumer behaviour and method selection in detail.

How Fast Do Payouts Settle?

For cash flow management, payout speed matters more than many merchants initially realise.

HitPay settles domestic SGD transactions next business day. Cross-border payment methods settle next business day in SGD. Merchants can top up their HitPay balance manually if refund float is needed — a feature available exclusively to Singapore-based businesses.

Airwallex payout timelines vary by transfer type and destination. For global treasury use cases, Airwallex offers competitive FX rates and interbank pricing. For a Singapore merchant simply wanting yesterday’s PayNow sales in their DBS account by morning, HitPay’s next business day domestic payout is the operationally simpler outcome.

HitPay vs Airwallex — Side-by-Side Comparison

When comparing payment infrastructure options more broadly, Airwallex‘s own comparison of enterprise gateways illustrates how global platforms differ in their approach to local market optimisation — a useful reference for businesses evaluating enterprise-tier options alongside SMB-focused tools.

Interchange economics also affect total cost of acceptance for card payments. Adyen‘s breakdown of interchange fees explains how card scheme costs flow through to merchant rates — context worth understanding before committing to any gateway contract.

Which Platform Is Right for Singapore SMBs?

HitPay — Best for: SMBs across Singapore that want zero monthly fees, 50+ payment methods including PayNow, GrabPay, ShopeePay, and BNPL, next business day SGD payouts, and built-in invoicing with local e-wallet support — without the complexity of a banking platform.

Airwallex — Best for: Businesses with established multi-currency treasury needs, regular international transfers, and teams requiring corporate expense cards — particularly those processing significant cross-border volumes where interbank FX rates deliver measurable savings.

For most Singapore SMBs — a Tanjong Pagar yoga studio, an Orchard Road gift retailer, or a Bugis-based creative agency billing local clients — HitPay’s zero-fee structure and full local payment stack will cover every operational requirement without a monthly subscription.

Frequently Asked Questions