AI-ID Generative AI Tracker February 2024 Banner

HitPay Unveils Mass Payouts for Businesses in Southeast Asia

business payments

Commerce infrastructure provider HitPay has debuted mass payouts in three new countries.

Business customers in Singapore — where HitPay is based — Malaysia and the Philippines can now “seamlessly pay workers, contractors, partners, and suppliers via HitPay,” the company said on its blog Monday (Dec. 11).

In addition, marketplace and platform-based businesses can manage mass payouts using HitPay’s Payout APIs, the release said.

The offering supports payments on networks that include FAST in Singapore, RTGS in Malaysia, as well as InstaPay and PESONet in the Philippines. The company will soon begin supporting PayNow payouts in Singapore and DuitNow payouts in Malaysia, and plans to launch other payment rails next year.

“With the introduction of its Payout APIs, HitPay expands its end-to-end payment solutions that streamline online payments, point of sale (POS), and B2B payments,” the release said.

HitPay says it also plans to introduce domestic payouts in Indonesia, Thailand, Vietnam and Australia next year, along with global cross-border payouts using mass payment networks, e-wallets and OTC channels.

The launch comes as a number of industries say they are hungry for faster payments, though the problem of lengthy days sales outstanding (DSO) varies from industry to industry, as PYMNTS wrote last week.

“For example, industries such as retail have relatively low, or good, DSO, while others, such as healthcare, exhibit much higher numbers,” that report said. “Sectors like construction, however, can have DSO figures that are nothing short of astronomical.”

Meanwhile, PYMNTS spoke last week with Alisa Ellis, VP, Operations Modernization at Discover Global Network, about the growing complexities of the B2B payment ecosystem.

“Payments are not a singular capability,” Ellis said. “It has a nested set of related things,” especially with digital efforts such as tokenization and as Discover Global Network clients need to transition their acceptance infrastructure to the cloud with the aid of APIs.

“You have to use measurement and data analytics just like we do in the consumer marketing business,” Ellis told PYMNTS CEO Karen Webster. “The qualitative feedback loops are very important — because they give you insights, while deploying the data analytics are the proof points to those insights” that ends up adding value for users.