Singapore · MAS licensing
At a glance
| Question | Answer |
|---|---|
| Is HitPay MAS licensed? | Yes |
| Is HitPay a bank? | No, a licensed payment institution |
| Where can I check? | MAS Financial Institutions Directory |
Check any provider on the MAS Financial Institutions Directory.
QUICK ANSWER
Yes. HitPay is MAS licensed. You can check any provider, including HitPay and Airwallex, on the MAS Financial Institutions Directory. A licence covers payment services; it doesn’t make a provider a bank.
The basics
In Singapore, the Monetary Authority of Singapore (MAS) licenses payment service providers under the Payment Services Act. A licence covers the payment services a provider is licensed for, such as accepting payments for merchants. It doesn’t make the provider a bank.
How to check
Three steps, for any provider, including HitPay and Airwallex. Start at the MAS Financial Institutions Directory.
| Step | What to do |
|---|---|
| 1 | Open the MAS Financial Institutions Directory at eservices.mas.gov.sg/fid |
| 2 | Search the provider's legal entity name, for example HitPay Payment Solutions Pte Ltd |
| 3 | Check the licence type and the licensed activities listed for that entity |
Compare
Each of these lists a Singapore entity on the MAS Financial Institutions Directory. Check the entry for its licence type.
| Provider | On the MAS directory | Compare |
|---|---|---|
| HitPay | Yes, MAS licensed | Singapore pricing |
| Airwallex | Its Singapore entity is listed | HitPay vs Airwallex |
| Stripe | Its Singapore entity is listed | HitPay vs Stripe |
After the licence
What to compare after the licence:
The payment methods you need, such as PayNow, cards and terminals
How fast payouts arrive
Whether per-transaction pricing is published
What HitPay gives Singapore businesses:
MAS licensed
One dashboard and one payout for online and terminal sales
Card payouts in T+1 business days, online and in person
Per-transaction pricing published on /sg/pricing
Comparing providers? See HitPay vs Airwallex, the Airwallex alternative guide, HitPay vs Stripe and Singapore pricing.
frequently asked questions
Is HitPay regulated in Singapore?
Yes. HitPay is MAS licensed.
Is HitPay a bank?
No. HitPay is a licensed payment institution, not a bank. Collection (virtual) accounts are a way to collect payments, not a bank account, and don't store value.
How do I check if a payment gateway is licensed by MAS?
Search its legal entity name on the MAS Financial Institutions Directory and check the licence type and licensed activities.
Is Airwallex approved by MAS?
Airwallex's Singapore entity is listed on the MAS Financial Institutions Directory; check the entry for its licence type.
Can I use HitPay for in-store and online payments?
Yes. HitPay gives Singapore businesses one dashboard and one payout for terminal and online sales.
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