Late payments and manual billing errors cost Singapore SMBs time and cash flow. This guide covers what a compliant Singapore invoice must include, how to set up digital payment collection, and which invoicing tools fit different business sizes.

Quick Answer: Singapore SMBs can manage invoicing by using a digital invoicing tool that generates GST-compliant invoices, embeds a payment link (PayNow, card, or GrabPay), and settles funds to their bank account the next business day. HitPay's invoicing product supports all of this with no monthly fees and approval in 1–3 business days — making it a practical starting point for businesses in Tanjong Pagar, Bugis, or anywhere across Singapore.

Invoicing is where cash flow either works or breaks down. According to the Singapore Department of Statistics, there are over 280,000 SMEs operating in Singapore — and late payment remains one of the most cited operational challenges. A client who pays 30 days late on a $5,000 invoice is effectively giving the business a $5,000 interest-free loan. Getting invoicing right is not just administrative housekeeping; it determines how much working capital a business has at any given moment.

WHAT MUST A SINGAPORE INVOICE LEGALLY INCLUDE?

The Monetary Authority of Singapore (MAS) oversees payment regulation, but invoice content requirements come from the Inland Revenue Authority of Singapore (IRAS). For GST-registered businesses, a tax invoice must include:

The word "Tax Invoice" clearly displayed
Supplier's name and address
Supplier's GST registration number
A unique, sequential invoice number
Date of issue
Description of goods or services supplied, including quantity and unit price where applicable
Customer's name and address (required for invoices above S$1,000)
Total amount excluding GST, GST amount (currently 9%), and total amount including GST

For invoices at or below S$1,000 (including GST), a simplified tax invoice with fewer fields is permitted.

Businesses not yet GST-registered still need to issue invoices, but without the GST line items. Once taxable turnover exceeds S$1 million in a 12-month period, GST registration becomes mandatory.

Note on InvoiceNow: IRAS is extending the GST InvoiceNow requirement — which mandates structured e-invoice transmission via the Peppol network — to all GST-registered businesses by April 2031. This is being phased in by company size. Businesses above certain turnover thresholds are already subject to it. GST-registered businesses should verify their current obligations at iras.gov.sg/taxes/goods-services-tax-(gst)/gst-invoicenow-requirement.

HOW DO PAYMENT TERMS AFFECT CASH FLOW IN PRACTICE?

Payment terms set the tempo of a business's cash cycle. A Tiong Bahru interior design firm invoicing clients on net-30 terms with no follow-up system can easily find itself chasing three months of unpaid revenue simultaneously.

Practical steps to improve payment timing:

Set shorter default terms — net 7 or net 14 rather than net 30 where the client relationship allows
Send invoices immediately on job completion, not at the end of the month
Include a direct payment link in the invoice so clients pay in one tap rather than via bank transfer with a reference number
Set automated reminders at 3 days before due, on due date, and 3 days after
Offer early payment incentives for large clients (e.g. 1% discount for payment within 7 days)

The payment link embedded in a digital invoice is the single highest-impact change most SMBs can make. Businesses that enable digital payment collection reduce average payment cycles meaningfully compared to those relying on bank transfers alone.

WHAT PAYMENT METHODS SHOULD SINGAPORE INVOICES SUPPORT?

Singapore clients expect options. A B2B invoice sent to a corporate procurement team may be paid by card. A freelance client in Orchard Road may prefer PayNow. A small retailer may want to pay via GrabPay. The invoice system should support all three without manual reconciliation overhead.

For Singapore merchants, the relevant methods to embed in invoices are:

For businesses with international clients, invoices can also support cross-border wallet payments — including WeChat Pay (China), UPI (India), PromptPay (Thailand), and DuitNow (Malaysia). Check hitpayapp.com for current settlement timelines for cross-border transactions.

For a broader overview of how digital wallets and payment gateways differ structurally, understanding the difference between digital wallets and payment gateways is useful context before choosing an invoicing stack: hitpayapp.com/blog/digital-wallet-vs-payment-gateways

HOW DOES HITPAY HANDLE INVOICING FOR SINGAPORE BUSINESSES?

HitPay's invoicing product lets merchants create and send professional invoices without setup fees or monthly charges. Merchants pay only per transaction, with rates listed at hitpayapp.com/pricing.

Key features relevant to Singapore SMBs:

Invoices include an embedded payment link supporting PayNow, cards, GrabPay, ShopeePay, Atome, Grab PayLater, SPayLater, and cross-border wallets
Automated payment reminders reduce manual follow-up
Payments settle to the merchant's SGD bank account the next business day for domestic transactions
No monthly subscription — suitable for businesses with variable invoice volumes
Approved in 1–3 business days; free to sign up

HitPay is licensed by MAS (licence PS20200643) and is PCI DSS compliant, which matters for businesses collecting card payments via invoice links.

Businesses handling multi-currency invoicing with overseas clients should also read about managing B2B multi-currency payments in Singapore for cross-border billing considerations: hitpayapp.com/blog/b2b-multi-currency-payments-singapore

WHICH INVOICING TOOL IS RIGHT FOR YOUR BUSINESS SIZE?

Business Type | Recommended Approach Freelancer / solopreneur | Lightweight tool with payment link — HitPay Invoicing or Wave SMB under S$1M revenue | HitPay Invoicing + basic accounting (Xero or QuickBooks) GST-registered SMB | Xero or QuickBooks for compliance; HitPay for payment collection High-volume B2B | ERP with integrated payment gateway (HitPay API)

For a detailed software-by-software breakdown, the best invoicing software for small businesses in Singapore covers QuickBooks, Zoho, and HitPay side by side: hitpayapp.com/blog/best-invoicing-software-singapore

WHAT ARE THE PRACTICAL TAKEAWAYS?

Effective invoicing in Singapore comes down to three operational decisions: issue immediately on job completion, embed a live payment link rather than bank transfer instructions, and automate reminders. A business that does all three consistently will reduce its average collection period — which is the single most direct lever on working capital available to an SMB without taking on debt.

The legal requirements are not complex, but they must be exact for GST-registered entities. And the payment infrastructure behind the invoice determines whether a client pays in two minutes or two weeks.

FREQUENTLY ASKED QUESTIONS

What must a Singapore tax invoice include to be GST-compliant?

A GST-compliant Singapore tax invoice must display the words "Tax Invoice", the supplier's name, address, and GST registration number, a unique sequential invoice number, the date of issue, a description of goods or services (including quantity and unit price where applicable), the customer's name and address (for invoices above S$1,000), and a clear breakdown of the amount before GST, the GST amount (9%), and the total including GST. IRAS provides the full requirements at iras.gov.sg. Separately, GST-registered businesses should check whether the InvoiceNow e-invoicing requirement applies to their business size and timeline.

How do I add a PayNow payment link to my invoice?

A payment gateway like HitPay generates a unique payment URL that can be embedded directly in an invoice email or PDF. When the client clicks the link, they can pay via PayNow, card, or supported wallet without logging into internet banking or entering a reference number manually. Funds from PayNow invoices settle to the merchant's Singapore bank account the next business day.

Is there a free invoicing tool for Singapore small businesses?

HitPay's invoicing feature has no monthly fees and no setup cost — merchants pay only a per-transaction fee when a client pays through the invoice link. Wave Accounting also offers free invoice creation but has limited local payment method support for Singapore. For businesses that need GST tracking alongside invoicing, Xero's entry-level Starter plan begins at around S$15/month but with limited transaction capacity; the Standard plan used by most growing businesses is S$70/month. QuickBooks pricing is in a similar range.

HitPay vs Stripe for invoicing in Singapore — which is better for SMBs?

HitPay is generally better suited to Singapore SMBs for invoicing because it natively supports PayNow, GrabPay, ShopeePay, and local BNPL methods including Atome, Grab PayLater, and SPayLater without additional configuration. Stripe supports PayNow and cards in Singapore but has a narrower local wallet selection and is more developer-oriented. HitPay has no monthly fees and approves merchants in 1–3 business days, which makes it faster to deploy for businesses that need to start collecting payments quickly.

How quickly do invoice payments settle in Singapore with HitPay?

Domestic invoice payments — including PayNow, cards, GrabPay, and ShopeePay — settle to the merchant's SGD bank account the next business day. Cross-border payments from international wallets such as WeChat Pay, UPI, or PromptPay settle on a different schedule — check hitpayapp.com for current terms. There are no minimum payout thresholds that would delay settlement.

What happens if a client pays my invoice late in Singapore?

Singapore does not have a statutory late payment interest rate for general commercial invoices. Businesses should include their own late payment terms in the invoice — typically 1–2% per month on overdue amounts — and state these clearly in the payment terms section. Automated reminder emails sent at regular intervals before and after the due date are the most effective operational tool for reducing late payments without damaging client relationships.

How to Manage Invoicing for Your Business in Singapore

Invoicing

Singapore

Guides & Market Insights

June 8, 2026

Author:

The HitPay Team

Last Updated:

Jul 13, 2026

Late payments and manual billing errors cost Singapore SMBs time and cash flow. This guide covers what a compliant Singapore invoice must include, how to set up digital payment collection, and which invoicing tools fit different business sizes.

Quick Answer: Singapore SMBs can manage invoicing by using a digital invoicing tool that generates GST-compliant invoices, embeds a payment link (PayNow, card, or GrabPay), and settles funds to their bank account the next business day. HitPay's invoicing product supports all of this with no monthly fees and approval in 1–3 business days — making it a practical starting point for businesses in Tanjong Pagar, Bugis, or anywhere across Singapore.

Invoicing is where cash flow either works or breaks down. According to the Singapore Department of Statistics, there are over 280,000 SMEs operating in Singapore — and late payment remains one of the most cited operational challenges. A client who pays 30 days late on a $5,000 invoice is effectively giving the business a $5,000 interest-free loan. Getting invoicing right is not just administrative housekeeping; it determines how much working capital a business has at any given moment.

WHAT MUST A SINGAPORE INVOICE LEGALLY INCLUDE?

The Monetary Authority of Singapore (MAS) oversees payment regulation, but invoice content requirements come from the Inland Revenue Authority of Singapore (IRAS). For GST-registered businesses, a tax invoice must include:

The word "Tax Invoice" clearly displayed
Supplier's name and address
Supplier's GST registration number
A unique, sequential invoice number
Date of issue
Description of goods or services supplied, including quantity and unit price where applicable
Customer's name and address (required for invoices above S$1,000)
Total amount excluding GST, GST amount (currently 9%), and total amount including GST

For invoices at or below S$1,000 (including GST), a simplified tax invoice with fewer fields is permitted.

Businesses not yet GST-registered still need to issue invoices, but without the GST line items. Once taxable turnover exceeds S$1 million in a 12-month period, GST registration becomes mandatory.

Note on InvoiceNow: IRAS is extending the GST InvoiceNow requirement — which mandates structured e-invoice transmission via the Peppol network — to all GST-registered businesses by April 2031. This is being phased in by company size. Businesses above certain turnover thresholds are already subject to it. GST-registered businesses should verify their current obligations at iras.gov.sg/taxes/goods-services-tax-(gst)/gst-invoicenow-requirement.

HOW DO PAYMENT TERMS AFFECT CASH FLOW IN PRACTICE?

Payment terms set the tempo of a business's cash cycle. A Tiong Bahru interior design firm invoicing clients on net-30 terms with no follow-up system can easily find itself chasing three months of unpaid revenue simultaneously.

Practical steps to improve payment timing:

Set shorter default terms — net 7 or net 14 rather than net 30 where the client relationship allows
Send invoices immediately on job completion, not at the end of the month
Include a direct payment link in the invoice so clients pay in one tap rather than via bank transfer with a reference number
Set automated reminders at 3 days before due, on due date, and 3 days after
Offer early payment incentives for large clients (e.g. 1% discount for payment within 7 days)

The payment link embedded in a digital invoice is the single highest-impact change most SMBs can make. Businesses that enable digital payment collection reduce average payment cycles meaningfully compared to those relying on bank transfers alone.

WHAT PAYMENT METHODS SHOULD SINGAPORE INVOICES SUPPORT?

Singapore clients expect options. A B2B invoice sent to a corporate procurement team may be paid by card. A freelance client in Orchard Road may prefer PayNow. A small retailer may want to pay via GrabPay. The invoice system should support all three without manual reconciliation overhead.

For Singapore merchants, the relevant methods to embed in invoices are:

For businesses with international clients, invoices can also support cross-border wallet payments — including WeChat Pay (China), UPI (India), PromptPay (Thailand), and DuitNow (Malaysia). Check hitpayapp.com for current settlement timelines for cross-border transactions.

For a broader overview of how digital wallets and payment gateways differ structurally, understanding the difference between digital wallets and payment gateways is useful context before choosing an invoicing stack: hitpayapp.com/blog/digital-wallet-vs-payment-gateways

HOW DOES HITPAY HANDLE INVOICING FOR SINGAPORE BUSINESSES?

HitPay's invoicing product lets merchants create and send professional invoices without setup fees or monthly charges. Merchants pay only per transaction, with rates listed at hitpayapp.com/pricing.

Key features relevant to Singapore SMBs:

Invoices include an embedded payment link supporting PayNow, cards, GrabPay, ShopeePay, Atome, Grab PayLater, SPayLater, and cross-border wallets
Automated payment reminders reduce manual follow-up
Payments settle to the merchant's SGD bank account the next business day for domestic transactions
No monthly subscription — suitable for businesses with variable invoice volumes
Approved in 1–3 business days; free to sign up

HitPay is licensed by MAS (licence PS20200643) and is PCI DSS compliant, which matters for businesses collecting card payments via invoice links.

Businesses handling multi-currency invoicing with overseas clients should also read about managing B2B multi-currency payments in Singapore for cross-border billing considerations: hitpayapp.com/blog/b2b-multi-currency-payments-singapore

WHICH INVOICING TOOL IS RIGHT FOR YOUR BUSINESS SIZE?

Business Type | Recommended Approach Freelancer / solopreneur | Lightweight tool with payment link — HitPay Invoicing or Wave SMB under S$1M revenue | HitPay Invoicing + basic accounting (Xero or QuickBooks) GST-registered SMB | Xero or QuickBooks for compliance; HitPay for payment collection High-volume B2B | ERP with integrated payment gateway (HitPay API)

For a detailed software-by-software breakdown, the best invoicing software for small businesses in Singapore covers QuickBooks, Zoho, and HitPay side by side: hitpayapp.com/blog/best-invoicing-software-singapore

WHAT ARE THE PRACTICAL TAKEAWAYS?

Effective invoicing in Singapore comes down to three operational decisions: issue immediately on job completion, embed a live payment link rather than bank transfer instructions, and automate reminders. A business that does all three consistently will reduce its average collection period — which is the single most direct lever on working capital available to an SMB without taking on debt.

The legal requirements are not complex, but they must be exact for GST-registered entities. And the payment infrastructure behind the invoice determines whether a client pays in two minutes or two weeks.

FREQUENTLY ASKED QUESTIONS

What must a Singapore tax invoice include to be GST-compliant?

A GST-compliant Singapore tax invoice must display the words "Tax Invoice", the supplier's name, address, and GST registration number, a unique sequential invoice number, the date of issue, a description of goods or services (including quantity and unit price where applicable), the customer's name and address (for invoices above S$1,000), and a clear breakdown of the amount before GST, the GST amount (9%), and the total including GST. IRAS provides the full requirements at iras.gov.sg. Separately, GST-registered businesses should check whether the InvoiceNow e-invoicing requirement applies to their business size and timeline.

How do I add a PayNow payment link to my invoice?

A payment gateway like HitPay generates a unique payment URL that can be embedded directly in an invoice email or PDF. When the client clicks the link, they can pay via PayNow, card, or supported wallet without logging into internet banking or entering a reference number manually. Funds from PayNow invoices settle to the merchant's Singapore bank account the next business day.

Is there a free invoicing tool for Singapore small businesses?

HitPay's invoicing feature has no monthly fees and no setup cost — merchants pay only a per-transaction fee when a client pays through the invoice link. Wave Accounting also offers free invoice creation but has limited local payment method support for Singapore. For businesses that need GST tracking alongside invoicing, Xero's entry-level Starter plan begins at around S$15/month but with limited transaction capacity; the Standard plan used by most growing businesses is S$70/month. QuickBooks pricing is in a similar range.

HitPay vs Stripe for invoicing in Singapore — which is better for SMBs?

HitPay is generally better suited to Singapore SMBs for invoicing because it natively supports PayNow, GrabPay, ShopeePay, and local BNPL methods including Atome, Grab PayLater, and SPayLater without additional configuration. Stripe supports PayNow and cards in Singapore but has a narrower local wallet selection and is more developer-oriented. HitPay has no monthly fees and approves merchants in 1–3 business days, which makes it faster to deploy for businesses that need to start collecting payments quickly.

How quickly do invoice payments settle in Singapore with HitPay?

Domestic invoice payments — including PayNow, cards, GrabPay, and ShopeePay — settle to the merchant's SGD bank account the next business day. Cross-border payments from international wallets such as WeChat Pay, UPI, or PromptPay settle on a different schedule — check hitpayapp.com for current terms. There are no minimum payout thresholds that would delay settlement.

What happens if a client pays my invoice late in Singapore?

Singapore does not have a statutory late payment interest rate for general commercial invoices. Businesses should include their own late payment terms in the invoice — typically 1–2% per month on overdue amounts — and state these clearly in the payment terms section. Automated reminder emails sent at regular intervals before and after the due date are the most effective operational tool for reducing late payments without damaging client relationships.

How to Manage Invoicing for Your Business in Singapore

Invoicing

Singapore

Guides & Market Insights

June 8, 2026

Author:

The HitPay Team

Last Updated:

Jul 13, 2026

Late payments and manual billing errors cost Singapore SMBs time and cash flow. This guide covers what a compliant Singapore invoice must include, how to set up digital payment collection, and which invoicing tools fit different business sizes.

Quick Answer: Singapore SMBs can manage invoicing by using a digital invoicing tool that generates GST-compliant invoices, embeds a payment link (PayNow, card, or GrabPay), and settles funds to their bank account the next business day. HitPay's invoicing product supports all of this with no monthly fees and approval in 1–3 business days — making it a practical starting point for businesses in Tanjong Pagar, Bugis, or anywhere across Singapore.

Invoicing is where cash flow either works or breaks down. According to the Singapore Department of Statistics, there are over 280,000 SMEs operating in Singapore — and late payment remains one of the most cited operational challenges. A client who pays 30 days late on a $5,000 invoice is effectively giving the business a $5,000 interest-free loan. Getting invoicing right is not just administrative housekeeping; it determines how much working capital a business has at any given moment.

WHAT MUST A SINGAPORE INVOICE LEGALLY INCLUDE?

The Monetary Authority of Singapore (MAS) oversees payment regulation, but invoice content requirements come from the Inland Revenue Authority of Singapore (IRAS). For GST-registered businesses, a tax invoice must include:

The word "Tax Invoice" clearly displayed
Supplier's name and address
Supplier's GST registration number
A unique, sequential invoice number
Date of issue
Description of goods or services supplied, including quantity and unit price where applicable
Customer's name and address (required for invoices above S$1,000)
Total amount excluding GST, GST amount (currently 9%), and total amount including GST

For invoices at or below S$1,000 (including GST), a simplified tax invoice with fewer fields is permitted.

Businesses not yet GST-registered still need to issue invoices, but without the GST line items. Once taxable turnover exceeds S$1 million in a 12-month period, GST registration becomes mandatory.

Note on InvoiceNow: IRAS is extending the GST InvoiceNow requirement — which mandates structured e-invoice transmission via the Peppol network — to all GST-registered businesses by April 2031. This is being phased in by company size. Businesses above certain turnover thresholds are already subject to it. GST-registered businesses should verify their current obligations at iras.gov.sg/taxes/goods-services-tax-(gst)/gst-invoicenow-requirement.

HOW DO PAYMENT TERMS AFFECT CASH FLOW IN PRACTICE?

Payment terms set the tempo of a business's cash cycle. A Tiong Bahru interior design firm invoicing clients on net-30 terms with no follow-up system can easily find itself chasing three months of unpaid revenue simultaneously.

Practical steps to improve payment timing:

Set shorter default terms — net 7 or net 14 rather than net 30 where the client relationship allows
Send invoices immediately on job completion, not at the end of the month
Include a direct payment link in the invoice so clients pay in one tap rather than via bank transfer with a reference number
Set automated reminders at 3 days before due, on due date, and 3 days after
Offer early payment incentives for large clients (e.g. 1% discount for payment within 7 days)

The payment link embedded in a digital invoice is the single highest-impact change most SMBs can make. Businesses that enable digital payment collection reduce average payment cycles meaningfully compared to those relying on bank transfers alone.

WHAT PAYMENT METHODS SHOULD SINGAPORE INVOICES SUPPORT?

Singapore clients expect options. A B2B invoice sent to a corporate procurement team may be paid by card. A freelance client in Orchard Road may prefer PayNow. A small retailer may want to pay via GrabPay. The invoice system should support all three without manual reconciliation overhead.

For Singapore merchants, the relevant methods to embed in invoices are:

For businesses with international clients, invoices can also support cross-border wallet payments — including WeChat Pay (China), UPI (India), PromptPay (Thailand), and DuitNow (Malaysia). Check hitpayapp.com for current settlement timelines for cross-border transactions.

For a broader overview of how digital wallets and payment gateways differ structurally, understanding the difference between digital wallets and payment gateways is useful context before choosing an invoicing stack: hitpayapp.com/blog/digital-wallet-vs-payment-gateways

HOW DOES HITPAY HANDLE INVOICING FOR SINGAPORE BUSINESSES?

HitPay's invoicing product lets merchants create and send professional invoices without setup fees or monthly charges. Merchants pay only per transaction, with rates listed at hitpayapp.com/pricing.

Key features relevant to Singapore SMBs:

Invoices include an embedded payment link supporting PayNow, cards, GrabPay, ShopeePay, Atome, Grab PayLater, SPayLater, and cross-border wallets
Automated payment reminders reduce manual follow-up
Payments settle to the merchant's SGD bank account the next business day for domestic transactions
No monthly subscription — suitable for businesses with variable invoice volumes
Approved in 1–3 business days; free to sign up

HitPay is licensed by MAS (licence PS20200643) and is PCI DSS compliant, which matters for businesses collecting card payments via invoice links.

Businesses handling multi-currency invoicing with overseas clients should also read about managing B2B multi-currency payments in Singapore for cross-border billing considerations: hitpayapp.com/blog/b2b-multi-currency-payments-singapore

WHICH INVOICING TOOL IS RIGHT FOR YOUR BUSINESS SIZE?

Business Type | Recommended Approach Freelancer / solopreneur | Lightweight tool with payment link — HitPay Invoicing or Wave SMB under S$1M revenue | HitPay Invoicing + basic accounting (Xero or QuickBooks) GST-registered SMB | Xero or QuickBooks for compliance; HitPay for payment collection High-volume B2B | ERP with integrated payment gateway (HitPay API)

For a detailed software-by-software breakdown, the best invoicing software for small businesses in Singapore covers QuickBooks, Zoho, and HitPay side by side: hitpayapp.com/blog/best-invoicing-software-singapore

WHAT ARE THE PRACTICAL TAKEAWAYS?

Effective invoicing in Singapore comes down to three operational decisions: issue immediately on job completion, embed a live payment link rather than bank transfer instructions, and automate reminders. A business that does all three consistently will reduce its average collection period — which is the single most direct lever on working capital available to an SMB without taking on debt.

The legal requirements are not complex, but they must be exact for GST-registered entities. And the payment infrastructure behind the invoice determines whether a client pays in two minutes or two weeks.

FREQUENTLY ASKED QUESTIONS

What must a Singapore tax invoice include to be GST-compliant?

A GST-compliant Singapore tax invoice must display the words "Tax Invoice", the supplier's name, address, and GST registration number, a unique sequential invoice number, the date of issue, a description of goods or services (including quantity and unit price where applicable), the customer's name and address (for invoices above S$1,000), and a clear breakdown of the amount before GST, the GST amount (9%), and the total including GST. IRAS provides the full requirements at iras.gov.sg. Separately, GST-registered businesses should check whether the InvoiceNow e-invoicing requirement applies to their business size and timeline.

How do I add a PayNow payment link to my invoice?

A payment gateway like HitPay generates a unique payment URL that can be embedded directly in an invoice email or PDF. When the client clicks the link, they can pay via PayNow, card, or supported wallet without logging into internet banking or entering a reference number manually. Funds from PayNow invoices settle to the merchant's Singapore bank account the next business day.

Is there a free invoicing tool for Singapore small businesses?

HitPay's invoicing feature has no monthly fees and no setup cost — merchants pay only a per-transaction fee when a client pays through the invoice link. Wave Accounting also offers free invoice creation but has limited local payment method support for Singapore. For businesses that need GST tracking alongside invoicing, Xero's entry-level Starter plan begins at around S$15/month but with limited transaction capacity; the Standard plan used by most growing businesses is S$70/month. QuickBooks pricing is in a similar range.

HitPay vs Stripe for invoicing in Singapore — which is better for SMBs?

HitPay is generally better suited to Singapore SMBs for invoicing because it natively supports PayNow, GrabPay, ShopeePay, and local BNPL methods including Atome, Grab PayLater, and SPayLater without additional configuration. Stripe supports PayNow and cards in Singapore but has a narrower local wallet selection and is more developer-oriented. HitPay has no monthly fees and approves merchants in 1–3 business days, which makes it faster to deploy for businesses that need to start collecting payments quickly.

How quickly do invoice payments settle in Singapore with HitPay?

Domestic invoice payments — including PayNow, cards, GrabPay, and ShopeePay — settle to the merchant's SGD bank account the next business day. Cross-border payments from international wallets such as WeChat Pay, UPI, or PromptPay settle on a different schedule — check hitpayapp.com for current terms. There are no minimum payout thresholds that would delay settlement.

What happens if a client pays my invoice late in Singapore?

Singapore does not have a statutory late payment interest rate for general commercial invoices. Businesses should include their own late payment terms in the invoice — typically 1–2% per month on overdue amounts — and state these clearly in the payment terms section. Automated reminder emails sent at regular intervals before and after the due date are the most effective operational tool for reducing late payments without damaging client relationships.

How to Manage Invoicing for Your Business in Singapore

How to Manage Invoicing for Your Business in Singapore

How to Manage Invoicing for Your Business in Singapore

Ready to apply what you just read?

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Ready to apply what you just read?

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