Eligible businesses must be registered in Singapore (Pte Ltd, LLP, sole proprietor, or partnership under ACRA) or the Philippines (sole proprietor, partnership, or corporation under DTI/SEC). Accounts issued differ by country: Singapore entities get a local SGD account plus SWIFT reach to 13 currencies (local EUR, GBP, and AUD accounts coming soon); Philippine entities get the local PHP account only.

Singapore entities receive SGD instantly via FAST/PayNow, and USD, EUR, GBP, HKD, AUD, and others via SWIFT - 13 currencies total. Philippine entities receive PHP instantly via InstaPay or PESONet - 14 currencies combined across both markets. Dedicated local EUR, GBP, and AUD accounts are coming soon for Singapore entities, and will settle faster and cheaper than SWIFT, since the sender will be making what looks like a domestic transfer.

Yes - local receiving accounts in EUR, GBP, and AUD for Singapore entities are coming soon, each with its own account details. European clients would pay via SEPA, UK clients via Faster Payments/CHAPS, and Australian clients via NPP - like paying a local business, not sending an international wire. Until then, these currencies arrive via SWIFT into the core account.

Philippine entities get a persistent local PHP account. Any InstaPay- or PESONet-connected bank or e-wallet - GCash, Maya, BPI, BDO, UnionBank - can transfer to it, settling instantly. It carries a flat PHP 15 fee per receipt and a PHP 20 minimum, with no monthly or setup fees.

Yes - it’s the umbrella name for both markets’ products. Singapore entities access what was HitPay’s multi-currency virtual account, soon to be extended with local EUR, GBP and AUD accounts. Philippine entities access HitPay’s local PHP Virtual Account. Existing customers need do nothing - accounts work the same way.

HitPay runs on regulated banking and financial institution partners, not a pooled float - each account is held in the business’s own name with a licensed banking partner appropriate to that market and currency, not a shared e-money wallet. HitPay itself is MAS-licensed (PS20200643) and fully regulated in every market it operates in.

No monthly or setup fees in either market. Singapore: SGD via FAST/PayNow costs S$0.50 per receipt, AUD costs A$3.00, most other currencies are free inbound; FX to SGD is 1% over interbank mid-rate. Philippines: every PHP receipt costs a flat PHP 15. Full pricing at hitpayapp.com/pricing.

No. It’s available inside an existing HitPay account - activate from your dashboard with no new vendor and no second KYB. New businesses complete one onboarding (ACRA in Singapore, DTI/SEC in the Philippines) and get both customer payment tools and this account together.

Everything settles into one HitPay Wallet, so there’s nothing to reconcile across separate systems. HitPay’s dashboard lists customer payments - cards, PayNow, GCash, QR PH, GrabPay - alongside local-currency and SWIFT transfers in one ledger, tagged with sender, currency, amount, and fee. Businesses export one reconciliation report; Singapore entities also sync to Xero or QuickBooks (GST-ready).

Singapore entities provide their ACRA UEN and the director’s NRIC/passport (sole proprietors: NRIC and MyInfo). Philippine entities provide DTI or SEC registration and a valid government ID. Both need a local business bank account. Sign-up is fully online, no setup fees, approval in 1–3 business days.

Airwallex, Aspire, and Wise offer broader currency and country coverage, but none also collect from a merchant’s own customers via card, QR, or e-wallet. HitPay uniquely combines customer payments (C2B) with local and SWIFT business receivables (B2B) in one dashboard, built for SMEs that need storefront checkout, not just a receiving account.

HitPay is developing local EUR, GBP, and AUD receiving accounts for Singapore entities, plus local USD receiving (ACH/Fedwire), letting European, UK, Australian, and US clients send domestic transfers instead of SWIFT wires. Expanded coverage for Philippine entities is also being explored. No dates announced.