Quick Answer: HitPay and Airwallex are not direct competitors — they serve different business models. HitPay is built for local payment acceptance: PayNow, GrabPay, ShopeePay, Atome, and cards, with no monthly fee and next business day SGD payouts. Airwallex is built for global treasury: multi-currency accounts, FX transfers, and corporate spend management. A Singapore café or online retailer needs HitPay. A Singapore company paying overseas contractors or managing multi-currency cash flow needs Airwallex. Both hold MAS licences; the decision comes down to what your business actually does.

Singapore’s digital payments market is one of the most competitive in Southeast Asia, with consumers regularly switching between PayNow, GrabPay, and card payments at checkout. For a merchant in Tiong Bahru or an online seller based in Bugis, choosing the wrong payment platform means missing transactions — not just paying higher fees.

HitPay and Airwallex are both well-known names in Singapore fintech, but they solve different problems. Understanding that distinction is the first step to making the right choice.

What does each platform actually do?

HitPay is a payment gateway and POS platform built for SMBs across Singapore and Southeast Asia. It handles payment acceptance — online, in-person, and via payment links — with 50+ payment methods including all major local options.

Airwallex positions itself as an intelligent financial platform for global businesses. Its core products are multi-currency business accounts, global FX transfers, corporate cards, and expense management. Payment acceptance (checkout, payment links) is available but secondary to its treasury and spend management offering.

The distinction matters. A café in Orchard Road needs PayNow QR, GrabPay, and a card terminal. A software company paying overseas contractors needs multi-currency accounts and low FX rates. These are different tools.

What payment methods does each platform support in Singapore?

This is where the gap is most visible.

HitPay — Singapore payment methods:
- PayNow QR
- GrabPay
- ShopeePay
- Atome (BNPL)
- ShopBack Pay (BNPL)
- GrabPay PayLater (BNPL)
- Visa, Mastercard, Amex, Apple Pay, Google Pay
- Cross-border: WeChatPay (China), UPI (India), QRIS (Indonesia), DuitNow (Malaysia), PromptPay & TrueMoney & Rabbit LINE Pay (Thailand), QR Ph (Philippines), KakaoPay/PayCo/LINE Pay (South Korea)

Airwallex — Singapore payment methods:
- Cards (Visa, Mastercard)
- 160+ local payment methods globally, but local SGD wallet coverage (GrabPay, ShopeePay, PayNow) is not confirmed as a core product offering

For merchants whose customers pay with GrabPay or PayNow — which covers the majority of retail transactions in Singapore — HitPay’s breadth is a clear operational advantage. As covered in our guide to online payment methods in Singapore, local e-wallets and instant bank transfers now account for a significant share of consumer spend.

How do fees and pricing compare?

For a merchant processing $30,000 SGD per month with no need for corporate cards or FX accounts, HitPay’s zero monthly fee structure results in lower fixed costs. Airwallex’s subscription tiers make more sense for businesses that actively use the FX and spend management features to offset the monthly cost.

How fast do payouts arrive?

HitPay settles domestic SGD transactions on the next business day. Cross-border payments (e.g., a Chinese tourist paying via WeChatPay) settle next business day in SGD. This is a predictable cash flow cycle for retailers and online sellers.

Airwallex’s payout speed depends on the product being used. For payment acceptance, settlement timelines are not uniformly published for SGD domestic transactions at the SMB level.

For a retail operator managing payroll or inventory reorders, next business day SGD payouts from HitPay reduce working capital pressure.

Which platform is right for which business?

HitPay
Best for: Singapore SMBs — retailers, F&B operators, online sellers, service providers — that need to accept PayNow, GrabPay, ShopeePay, BNPL, and cards with zero monthly fees and next business day SGD payouts, without the complexity of a financial platform.

Airwallex
Best for: Singapore businesses that need multi-currency global accounts, interbank-rate FX transfers, and corporate expense management — particularly those paying international suppliers or managing treasury across multiple currencies.

Both platforms operate in a regulated environment. Payment service providers in Singapore are licensed by the Monetary Authority of Singapore (MAS) under the Payment Services Act. HitPay holds licence PS20200643. Merchants should verify any provider’s MAS licence status before onboarding.

For businesses evaluating cross-border payment acceptance specifically — accepting wallets from Thai, Indonesian, Indian, or Chinese visitors — HitPay’s cross-border method coverage is worth reviewing in detail. A boutique in Orchard Road accepting QRIS from Indonesian tourists or UPI from Indian visitors gains incremental revenue without any currency exchange friction at the point of sale. Our breakdown of B2B multi-currency payments in Singapore covers how cross-border acceptance and cross-border payments serve different operational needs.

Practical takeaway

The HitPay vs Airwallex decision is less about which platform is better and more about which problem a business is actually solving. Airwallex is a financial infrastructure platform; HitPay is a payment acceptance platform. Most Singapore retailers, F&B operators, and online sellers need the latter — with local e-wallet coverage, no monthly fees, and reliable next business day payouts. Businesses that have significant international treasury needs or multi-currency expense management requirements will find Airwallex’s product set more relevant.

HitPay is free to sign up and approvals take 1–3 business days. Visit hitpayapp.com/pricing for current transaction rates.

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