Quick Answer: HitPay is the leading invoicing and payment platform for Philippine SMEs, supporting GCash, Maya, QR Ph, InstaPay, PESONet, cards, and over-the-counter options — with no monthly fees and next business day payouts in PHP for local wallet and QR methods. Businesses can send branded invoices with embedded payment links and automate late fees. For a full comparison of invoicing platforms in the Philippines, read on.

Invoicing is one of the most common cash flow problems for Philippine SMEs. A freelancer in BGC sends a project invoice by email. A Makati events supplier follows up three times before receiving payment. A Cebu-based wholesaler waits two weeks for a bank transfer that could have been an InstaPay transaction settled the same day.

The problem is rarely the invoice itself — it is the gap between sending an invoice and getting paid. The right invoicing platform closes that gap by embedding payment directly into the invoice. As the Bangko Sentral ng Pilipinas continues to push for digital payment adoption across the country, more SMEs are moving away from manual billing toward platforms that automate the entire payment collection cycle.

This guide compares the top options available to Philippine businesses in 2026.

What should Philippine SMEs look for in invoicing software?

Not all invoicing tools are built the same. A platform that works for a Manila SaaS startup may not suit a Quezon City service provider or a Davao-based supplier. The key criteria are:

1. Supported payment methods — Does the platform accept GCash, Maya, QR Ph, InstaPay, PESONet, and cards in a single invoice?

2. Payout speed — How quickly do funds land in the merchant’s bank account?

3. Fee structure — Are there monthly fees on top of transaction fees?

4. Automation — Can the platform send reminders and apply late fees without manual effort?

5. Compliance — Is the provider regulated and licensed to operate in the Philippines?

For context on how invoicing fits into a broader payment strategy, the invoice payment guide for SMEs in Southeast Asia covers the full collection cycle in detail.

How do the leading platforms compare on invoicing features?

HitPay — invoicing built for Philippine SMEs

HitPay’s invoicing tool lets merchants create itemised invoices, attach payment links that accept GCash, Maya, QR Ph, InstaPay, PESONet, Visa, Mastercard, and over-the-counter options (Bayad, ECPay, Palawan), and send them directly to clients. There are no monthly fees — merchants pay per transaction only.

The platform also supports automated late fees: a fixed amount or percentage applied after a custom grace period, added automatically as a line item on overdue invoices. This removes the manual follow-up burden that costs many SMEs hours each week.

Domestic transactions settle next business day in PHP for local wallet and QR methods. Online card settlements follow a separate schedule. For merchants serving international clients — such as a BGC agency with a Singapore-based client paying via PayNow — cross-border payments settle at T+2.

HitPay is approved by the Bangko Sentral ng Pilipinas and operates under an OPS (Other Payment System) licence. Approval for new merchants takes 1–3 business days, with no setup fee required. For a broader look at what the platform covers, the complete guide to HitPay for Southeast Asian SMEs is a useful reference.

Best for: SMEs across the Philippines that want zero monthly fees, invoicing with embedded multi-method payment collection, automated late fees, and next business day payouts.

PayMongo — payment links with a monthly fee tier

Xendit‘s published overview of Philippine payment infrastructure highlights how gateway selection affects conversion — a relevant lens when evaluating PayMongo, which supports payment links and a wide local wallet set (GCash, Maya, GrabPay, ShopeePay, SPayLater). The Storefront plan carries a ₱349/month fee. Card rates run at 3.125% + ₱13.39 for domestic and 4.02% + ₱13.39 for international transactions. Late fee automation is not a native feature — merchants track and apply these manually.

Best for: Businesses already on a PayMongo commercial plan that need payment links and are comfortable with the monthly fee structure.

Maya Business — strong for Maya ecosystem merchants

Maya Business suits merchants whose customer base predominantly uses the Maya wallet and digital bank. Its invoicing capabilities are limited compared to dedicated payment platforms, and late fee automation is not available. It is the #1 digital bank app in the Philippines by monthly active users, which gives it strong consumer reach within its own ecosystem.

Best for: Businesses with a primarily Maya-centric customer base and simple, single-method billing needs.

2C2P — enterprise-grade, not SME-ready

2C2P covers Visa and Mastercard across the Philippines and offers over 600,000 over-the-counter payment locations across Asia. Pricing is custom and enterprise-oriented. It does not publish a self-serve invoicing tool for SMEs. Fiuu‘s gateway evaluation framework for the Philippines notes that enterprise platforms often require minimum volumes and integration timelines that exclude early-stage and growth-stage SMEs.

Best for: Large businesses with dedicated technical teams, high transaction volumes, and a need for instalment payment processing.

Airwallex — global treasury, not local invoicing

Airwallex is built for businesses managing multi-currency treasury and cross-border transfers. Its subscription starts from $79/month (USD) and scales to $399/month. In the Philippines, local e-wallet support (GCash, Maya, QR Ph) is not listed among its core payment methods. Invoicing exists but is secondary to its global financial infrastructure product.

Best for: Philippines-based businesses with significant international revenue flows that need multi-currency accounts and FX management alongside payment collection.

What is the practical invoicing setup for a Philippine SME?

For a service business in Makati or a supplier in Cebu, the fastest path to getting paid on an invoice is:

1. Create an itemised invoice in HitPay with line items, tax, and payment terms.

2. Set an automated late fee (fixed or percentage) with a custom grace period.

3. Share the invoice link via email, Viber, or Messenger — clients pay via GCash, Maya, QR Ph, card, or OTC.

4. Funds settle to the merchant’s bank account the next business day in PHP.

For merchants who want to understand how QR-based payment collection fits into this flow, the guide on how to generate QR Ph for your business is a practical companion.

Frequently Asked Questions