Quick Answer: For Singapore SMEs, HitPay is the stronger default choice — it supports PayNow, GrabPay, ShopeePay, Atome, Grab PayLater, SPayLater, and 50+ payment methods with no monthly fees, next business day SGD payouts, and approval in 1–3 business days. Adyen is a global enterprise platform licensed by the Monetary Authority of Singapore but built primarily for large-volume businesses, with a cost and complexity structure that typically disadvantages small merchants.

Singapore has one of the highest digital payment adoption rates in Southeast Asia. PayNow continues to grow year-on-year as a dominant payment rail for both consumers and businesses, and wallet usage via GrabPay and ShopeePay continues to expand across retail, F&B, and services. For a small business in Tanjong Pagar or Bugis, the payment gateway choice is not just a technical decision — it directly affects cash flow, checkout conversion, and operating cost.

The comparison below focuses on what Singapore SMEs actually need: local payment coverage, transparent pricing, fast onboarding, and reliable payouts. For a broader look at online payment methods in Singapore, the full landscape is worth reviewing before committing to any platform: hitpayapp.com/blog/online-payment-singapore

WHAT PAYMENT METHODS DOES EACH PLATFORM SUPPORT IN SINGAPORE?

Both HitPay and Adyen support Singapore's major payment methods — PayNow, GrabPay, and card networks — but they differ in the depth of local wallet and cross-border coverage.

HitPay supports the full stack of Singapore payment methods: PayNow QR, GrabPay, ShopeePay, Atome, Grab PayLater, SPayLater, Visa, Mastercard, Amex, Apple Pay, and Google Pay. It also accepts cross-border wallets from tourists and regional visitors — including WeChat Pay (China), UPI (India), QRIS (Indonesia), DuitNow (Malaysia), and PromptPay (Thailand).

Adyen supports PayNow and GrabPay in Singapore alongside card networks (Visa, Mastercard), Apple Pay, Google Pay, WeChat Pay, and Atome. Where HitPay has a stronger coverage advantage is in local wallets like ShopeePay, cross-border QR methods for regional tourists (QRIS, UPI, DuitNow), and BNPL breadth (Grab PayLater, SPayLater). Adyen's integration also involves more technical setup than HitPay's out-of-the-box merchant tools.

Feature | HitPay | Adyen PayNow | Yes | Yes GrabPay | Yes | Yes ShopeePay | Yes | Not confirmed Atome | Yes | Yes Grab PayLater / SPayLater | Yes | Not confirmed Visa / Mastercard / Amex | Yes | Yes (Amex varies) Apple Pay / Google Pay | Yes | Yes WeChat Pay (cross-border) | Yes | Yes UPI / QRIS / DuitNow (cross-border) | Yes | Limited Monthly fee | None | None Setup fee | None | None Minimum volume requirement | None | Yes (enterprise thresholds apply) Onboarding time | 1–3 business days | Enterprise process (weeks) SGD payout speed | Next business day | Not publicly specified for SMEs MAS licensed | Yes — PS20200643 | Yes Target segment | SMEs | Enterprise

HOW DO THE FEE STRUCTURES COMPARE?

Both platforms charge on a per-transaction basis with no setup fee. The difference is in what that model looks like in practice for a small business.

HitPay's pricing is transparent and publicly listed at hitpayapp.com/pricing. There are no monthly fees, no minimum volume requirements, and no hidden platform charges. PayNow transactions carry some of the lowest rates available for Singapore merchants.

Adyen's model is also per-transaction, but the platform is designed for enterprise volumes. Processing fees, interchange, and scheme fees are typically itemised separately — a structure better suited to finance teams at large retailers than to a café owner reconciling end-of-day sales. Adyen also applies minimum processing volume thresholds for merchant acceptance, which can exclude early-stage businesses before they even reach the pricing conversation. Adyen processes over €1 trillion annually, which signals the scale at which it is optimised.

For cost transparency at the SME level, the breakdown of payment gateway costs in Singapore provides a useful reference point: hitpayapp.com/blog/affordable-payment-gateway-cost-singapore

WHICH PLATFORM IS EASIER TO SET UP AND USE?

HitPay is built for merchants without dedicated technical or finance teams. Sign-up is free, applications are reviewed in 1–3 business days, and the platform requires no custom integration to go live. Payment links, QR codes, a hosted checkout, and a POS app are all available out of the box. Plugins for Shopify, WooCommerce, and Xero are pre-built.

Adyen requires a more involved onboarding process. The platform offers powerful tools — reconciliation, fraud management, issuing, capital products — but these are enterprise-grade features that add complexity rather than simplify operations for a small team. Adyen's case studies tend to feature scaling platforms and established retailers, not early-stage or solo-operator businesses.

For SMEs that want to understand the full range of gateway options before deciding, the best payment gateway Singapore 2026 comparison covers HitPay, Stripe, Airwallex, and others side by side: hitpayapp.com/blog/payment-gateway-singapore

WHAT ARE THE PAYOUT AND COMPLIANCE DIFFERENCES?

HitPay settles domestic SGD transactions on the next business day. This payout speed is relevant for cash-flow-sensitive businesses — a Jurong East food operator, for example, cannot afford to wait several days for settlement. Cross-border payment methods (WeChat Pay, UPI, QRIS, etc.) settle on a different schedule; check hitpayapp.com for current terms.

Both platforms operate under Singapore's payment services regulatory framework. HitPay holds a Major Payment Institution licence issued by the Monetary Authority of Singapore (MAS) under licence number PS20200643 and is PCI DSS compliant. Adyen is also MAS-licensed and PCI DSS compliant.

For reconciliation, HitPay's dashboard consolidates all payment methods into a single transaction view — useful for small teams managing sales across online, in-store, and social channels. Adyen's reconciliation tools are more sophisticated but are designed for high-volume, multi-market operations.

WHICH PLATFORM SHOULD SINGAPORE SMES CHOOSE?

HitPay Best for: SMBs across Singapore that want zero monthly fees, 50+ payment methods including PayNow, GrabPay, and ShopeePay, next business day SGD payouts, and fast self-serve onboarding — without enterprise complexity.

Adyen Best for: Established businesses or platforms with high transaction volumes, existing enterprise infrastructure, and the internal resources to manage a complex integration and fee structure. Not optimised for early-stage or solo-operator Singapore SMEs.

For a Tiong Bahru boutique or a Bugis pop-up that needs PayNow, GrabPay, and card payments live within days — with transparent pricing and next-day payouts — HitPay is the operationally simpler and more cost-effective choice. Adyen's strengths become relevant at a scale and complexity that most Singapore SMEs will not reach for several years, if at all.

The practical starting point for most merchants: review HitPay's full Singapore feature set and compare it directly against current operational needs before adding enterprise infrastructure that may never be used: hitpayapp.com/blog/hitpay-singapore

FREQUENTLY ASKED QUESTIONS