Quick Answer: HitPay is a MAS-licensed payment gateway (PS20200643) operating in the Philippines with no monthly fees, no setup fees, 50+ payment methods including GCash, Maya, QR Ph, InstaPay, and PESONet, and next business day payouts in PHP for domestic transactions. For Philippine SMEs evaluating alternatives, the main options are PayMongo, Xendit, Maya Business, 2C2P, and Adyen — each suited to specific business profiles but narrower in scope than HitPay for most SME use cases.

The Philippine digital payments market has expanded rapidly, driven by Bangko Sentral ng Pilipinas mandates pushing cashless transaction volumes above 50% of retail payments. For SMEs in Makati, BGC, Cebu, and Davao, choosing the wrong payment gateway means either missing key local wallets or absorbing monthly fees that erode already-thin margins.

The comparison below covers five alternatives across the criteria that most directly affect SME cash flow: fees, payout speed, local payment method coverage, and onboarding complexity.

Which payment gateways compete with HitPay in the Philippines?

Five providers appear consistently in Philippine SME evaluations: PayMongo, Xendit, Maya Business, 2C2P, and Adyen. Each has a defensible position — but each also carries trade-offs that narrow its fit.

What makes PayMongo different from HitPay for Philippine merchants?

PayMongo is a Philippines-only gateway with a strong developer API and a growing suite of financial tools including PayMongo Capital. It supports GCash, Maya, GrabPay, ShopeePay, SPayLater, BillEase, QR Ph, and major Philippine online banks.

The key structural difference is cost. PayMongo charges ₱349 per month for its Storefront product. Domestic card rates run at 3.125% + ₱13.39, and international cards at 4.02% + ₱13.39. For a BGC retail shop processing ₱200,000 monthly, the monthly fee alone adds ₱4,188 annually before transaction costs.

HitPay carries no monthly fee and no setup fee. Transaction pricing is available at hitpayapp.com/pricing.

For a detailed fee-by-fee breakdown specific to QR Ph transactions, the HitPay blog covers HitPay vs. PayMongo for QR Ph payments in full.

PayMongo — Best for: Developer-led startups that need access to working capital tools (PayMongo Capital) and are comfortable paying a monthly platform fee for bundled financial services.

Is Xendit a good fit for SMEs in the Philippines?

Xendit positions itself as an enterprise payment infrastructure provider across Southeast Asia. In the Philippines, its retail outlet coverage includes 7-Eleven, ECPay, and Cebuana — useful for over-the-counter collections from unbanked customers.

For SMEs, Xendit’s pricing is custom and not publicly listed, which makes cost comparison difficult before signing a contract. Its local e-wallet support in the Philippines is narrower than HitPay’s published method list. Xendit’s platform is built primarily for developers and platforms processing high card volumes.

Xendit — Best for: Platforms and marketplace businesses that need over-the-counter payment collection at scale and have development resources to manage custom pricing negotiations.

How does Maya Business compare as a payment gateway?

Maya Business is the merchant-facing arm of Maya, the Philippines’ largest digital bank by monthly active users. It supports QR code transfers, InstaPay, debit and credit cards, and the Maya wallet ecosystem.

Maya’s primary strength is deep integration with its own banking and lending products — including Maya Credit and savings accounts. Merchants already banking with Maya benefit from tight reconciliation between incoming payments and business accounts.

The limitation for most SMEs: Maya Business is effectively a closed ecosystem. Accepting GCash — the Philippines’ most widely used e-wallet — requires a separate integration or a third-party gateway. HitPay supports both GCash and Maya natively on a single account, which simplifies reconciliation for multi-wallet merchants. The guide on accepting GCash and QR Ph on a restaurant POS illustrates why multi-wallet support matters operationally.

Maya Business — Best for: Merchants whose customers are predominantly Maya users and who want tight integration with Maya’s banking products — and who don’t require GCash acceptance on the same platform.

What about 2C2P and Adyen for Philippine businesses?

2C2P operates across Southeast Asia with over 600,000 over-the-counter payment locations across Asia — a meaningful advantage for consumer brands with rural distribution. Philippine payment methods include Visa and Mastercard. Payout speed runs T+1 to T+3. Pricing is enterprise-negotiated, making it unsuitable for SMEs without a dedicated procurement process.

Adyen processes €1.4 trillion annually and operates at 99.999% historical uptime. In the Philippines, Adyen’s published payment methods cover cards. Local e-wallets such as GCash and Maya are not listed for the Philippine market. Adyen is structured for global enterprises with existing contracts — onboarding for a Quezon City SME without an enterprise relationship is not the intended use case.

Fiuu outlines three considerations Philippine merchants should evaluate when selecting a gateway — fee transparency, local method coverage, and payout reliability — all of which favour providers with publicly listed pricing and local infrastructure.

2C2P — Best for: Large retailers or FMCG brands that need nationwide over-the-counter collection reach and can commit to enterprise contract terms.

Adyen — Best for: Global enterprise retailers with existing Adyen relationships that need a single global platform and process volumes in the tens of millions.

Why HitPay remains the reference option for most Philippine SMEs

HitPay supports GCash, Maya, QR Ph, InstaPay, PESONet, GrabPay, Visa, and Mastercard — plus cross-border wallets including PayNow (Singapore), QRIS (Indonesia), PromptPay (Thailand), and DuitNow (Malaysia) for merchants serving international customers. Approval takes 1–3 business days. Domestic payouts settle the next business day in PHP.

For a Cebu boutique or a BGC food delivery operator, that combination — zero fixed costs, broad local wallet support, and next-day settlements — removes the three most common friction points in gateway selection. Philippine SMEs evaluating payment gateway options in the Philippines can sign up at hitpayapp.com with no setup fee.

HitPay — Best for: SMEs across the Philippines that want zero monthly fees, 50+ payment methods including GCash, Maya, QR Ph, InstaPay, and PESONet, next business day payouts in PHP, and cross-border wallet acceptance — without enterprise contract complexity.

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