- HitPay secures MAS license for merchant acquisition and money transfers.
- Platform serves over 15,000 businesses globally.
- Backed by Tiger Global, raises $15.8M Series A.
HitPay, a Singapore-based commerce platform for SMEs, has secured a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS).
This license enables HitPay to offer merchant acquisition and money transfer services, both domestic and cross-border, in addition to its core payment gateway offering.
15,000 businesses and counting
Founded in 2016, HitPay has assisted over 15,000 businesses across Southeast Asia and worldwide in processing payments. Its impressive client list includes Secret Lab, Reebelo, and GetGo.
HitPay’s payment gateway seamlessly integrates with platforms like WiX and Shopify, supporting payments via GrabPay, ShopeePay, Atome, Visa, Mastercard, and more.
HitPay’s Southeast Asian takeover: gotta catch ’em all!
HitPay’s headquarters may be in Singapore, but the company has a strong presence in the Philippines, Malaysia, Indonesia, and Thailand.
In the Philippines, HitPay holds an OPS license from the Bangko Sentral ng Pilipinas, and its fully-owned Malaysian offshoot Mobiedge E-Commerce is registered as a merchant acquirer at Bank Negara Malaysia.
HitPay has attracted investments from top-tier investors, including Tiger Global, Global Founders Capital, HOF Capital, and Y Combinator.
The company’s most recent funding round in May 2022 saw it raise an impressive US$15.8 million in series A funding, setting the stage for further growth and innovation.
To read the original article: https://www.techinasia.com/hitpay-attains-mpi-license-mas-broadens-services
