HitPay Unveils Single Switch for Cross-Border Payments, Providing Access to 10 Global Real-Time Payment Schemes With Unmatched Flexibility and Cost Savings for Businesses

The Challenge 

Cross-border payments are critical yet often costly and complex, especially for growing businesses expanding into Southeast Asia and South Asia. Geopolitical shifts have diversified supply chains, and real-time payments have become the preferred method for digital transactions in these regions. Traditional card payment schemes, with their high fees and slow settlement times, are inadequate for the fast-paced, dynamic markets of Southeast Asia and South Asia.

Card penetration in these regions is significantly lower than in Western markets, making real-time payment schemes essential for daily commerce. These methods are supported by customers, merchants, and regulators alike, and they play a key role in the regional digital economy. The rise of non-card payment methods — such as digital wallets, bank transfers, and QR-based payments — underscores the need for businesses to adopt flexible, low-cost solutions to stay competitive. 

HitPay’s Cross-Border Payment Solution 

HitPay is thrilled to announce the launch of its revolutionary single switch to 10 global real-time payment schemes. This innovation promotes interoperability, flexibility, and significant cost savings for businesses. With HitPay, domestic and cross-border merchants can save up to 50%

in payment processing fees compared to traditional card schemes, while accessing customers in Asia Pacific (APAC) markets, which make up 39% of the global GDP. 

As non-card payment methods gain rapid traction, over 50% of digital commerce volumes in APAC now come from non-card methods. This growth, at 40% year-over-year over the last five years, signals a clear shift away from card-based transactions. 

HitPay now provides access to 10 key real-time payment schemes for e-commerce and in-person transactions. Businesses can offer their customers payment options they prefer, across both domestic and international markets. 

• PayID (Australia)
• PayNow (Singapore)
• PromptPay (Thailand)
• QR Ph (Philippines)
• VietQR (Vietnam)
• WeChat Pay (China)
• DuitNow (Malaysia; launching soon)
• QRIS (Indonesia; launching soon)
• Pix (Brazil; launching soon)
• UPI (India; launching soon)

Since its beta launch in July 2024, HitPay’s cross-border payments solution has experienced rapid adoption, with beta users reporting 500% monthly growth in payment volumes. 

Key Benefits 

• Cost Savings for Merchants: Cross-border merchants accepting payments from APAC can save over 50% in payment processing costs compared to traditional international card schemes.
• Higher Conversion Rates: Customers from countries with low card penetration can now use familiar, local payment methods, driving higher conversions.
• Next-Day Payouts: With HitPay’s regional payment licenses and in-house treasury infrastructure, businesses benefit from next-day settlements, supporting healthier cash flow.
• Seamless Interoperability: HitPay’s single switch provides access to the top real-time payment schemes, offering customers their preferred local payment methods.
• Local E-Wallet Integration: HitPay offers integrations with local e-wallets such as GrabPay and DBS PayLah! in Singapore, GCash and Maya in the Philippines, ensuring smooth, localized payment experiences.
• Enhanced Flexibility: Businesses can manage payments efficiently across online and physical channels without the need for multiple providers or complex integrations.