Our commitment

At HitPay, fair dealing is part of how we run our business, not an add-on. We want every merchant and every one of their customers to trust that they will be treated honestly, fairly and with respect when they use our payment services.

This statement explains what you can expect from us. It applies to all merchants who use HitPay's platforms and services, and to the HitPay group entities that provide them, including HitPay Payment Solutions Pte. Ltd., which is licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution (licence no. PS20200643) under the Payment Services Act, and our affiliates in Malaysia, the Philippines and other markets.

Our five fair dealing commitments

Our approach follows the five fair dealing outcomes in MAS's Guidelines on Fair Dealing – Board and Senior Management Responsibilities for Delivering Fair Dealing Outcomes to Customers (updated 30 May 2024), which apply to all financial institutions and all the products and services they offer. Our Board and senior management are responsible for delivering these outcomes.

1. You can be confident that fair dealing is central to our culture. Fair dealing is built into our strategy, policies, staff training and the way we reward our people, and we regularly check that it is working.

2. We offer services suited to the businesses we serve. We design and test our products for small and medium-sized businesses, check that each service is appropriate before we offer it, and do not push features or plans a merchant does not need.

3. You are served by competent representatives. Our onboarding, sales and support teams are trained on our products, fees and policies, so the guidance you receive is accurate and relevant to your business.

4. You receive clear, relevant and timely information that accurately represents our services. We explain our fees, terms and any changes in plain language, without jargon, and highlight key terms and risks rather than hide them. We never overstate what our services can do.

5. We handle complaints in an independent, effective and prompt manner. Every complaint is recorded, reviewed by someone not involved in the original issue where appropriate, and answered within set timelines.

Fair and consistent decisions

We assess merchant applications and make account decisions using objective, documented criteria, applied consistently. Where we treat a merchant or group of merchants differently, for example in pricing, limits or settlement terms, we do so based on relevant and reliable information, such as transaction volumes, business type or risk profile, and we can explain why.

We take extra care with merchants who may need more support, such as first-time business owners or those less familiar with digital payments. Our team will explain our services and terms in more detail on request.

Clear fees and transparent terms

Our standard fees are published on our pricing page, and any custom rate we agree with you is confirmed in writing. There are no hidden charges.

• We show you the fees that apply to each payment method before you start accepting payments.

• Your dashboard shows the fees deducted from each transaction, so you can reconcile every payout.

• Our Merchant Services Agreement, Terms of Service, Acceptable Use Policy and Privacy Policy are available on our website at all times.

• Before you sign up, we point out the terms that allow us to change your fees, terms or services, which are explained below.

When we may change your fees or terms

Our Merchant Services Agreement allows us to revise our fees, terms and services. We use this right only for legitimate reasons, such as:

• changes in law, regulation or the requirements of card schemes and banking partners;

• changes in the costs charged to us by our payment partners;

• changes to the risk profile of a merchant's business; and

• improvements or changes to our products.

If you have a custom rate, it depends on maintaining the minimum average monthly transaction volume agreed with you. If volumes fall below that threshold for three consecutive months, we may move you to our standard published rates.

Unless the law, a regulator or an urgent risk requires us to act sooner, we will give you at least [30] days' notice by email or through your dashboard. The notice will explain what is changing, why, and when it takes effect. If you do not accept a change, you may end your agreement with us before it takes effect, and we will settle any funds owed to you.

Before we change a merchant's fees or terms, the change is reviewed by a team independent of the business line involved and approved by senior management, who consider how it will affect the merchants concerned.

Protecting your funds and data

We safeguard the money we collect on your behalf in line with our regulatory obligations, and we settle it to your designated bank account according to your payout schedule.

We protect your data and your customers' data with industry-standard security controls. We collect, use and share personal data only as described in our Privacy Policy and as permitted by applicable data protection laws.

Account reviews, holds and closures

As a regulated payment institution, we must sometimes review accounts, hold payouts or restrict services to prevent fraud and meet anti-money laundering and sanctions requirements. When we do, we act proportionately and treat you fairly.

• We tell you promptly when a review or hold affects your account, unless the law prevents us from doing so.

• We tell you what information or documents we need and how to provide them.

• We aim to complete reviews as quickly as possible and keep you updated if they take longer than expected.

• If we close an account, we settle any funds owed to you, less permitted deductions, as set out in our Merchant Services Agreement.

Feedback

If you are unhappy with our service, please tell us. Raising a feedback will never affect how we treat you.

1. Contact us through the website.

2. We acknowledge your feedback within 2 business days and give you a reference number.

3. We investigate fairly, and where appropriate the complaint is reviewed by someone not involved in the original matter.

4. We respond in writing within 14 business days with our findings and any remedy. If we need more time, we tell you why and when to expect our reply.

5. If you are not satisfied with our response, you may ask for it to be escalated to our senior management.

Review of this statement

We review this statement at least once a year and whenever our services or regulatory requirements change. The latest version is always on our website.