Singapore-based payments firm HitPay has integrated payment security technologies from Flagright to enhance compliance.
Serving over 15,000 businesses, HitPay consolidates various payment methods into a single, integrated payment processing system.
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HitPay will leverage Flagright’s AI-powered technology and no-code platform to enhance its compliance and fraud prevention efforts.
Flagright co-founder and CEO Baran Ozkan said: “We are thrilled to support HitPay, a leader in the payment processing industry and a fellow Y Combinator company. Our collaboration reflects our shared commitment to enhancing security and compliance in financial services.
“We look forward to supporting HitPay’s mission to provide secure and seamless payment solutions for SMEs across Southeast Asia and the globe.”
HitPay co-founder and CEO Aditya Haripurkar stated: “Flagright’s cutting-edge transaction monitoring and AML compliance solution will enhance our ability to protect our customers’ transactions and ensure compliance with stringent regulatory standards.
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By GlobalData“As a fellow Y Combinator company, we share a common vision of leveraging technology to drive innovation and security in the financial sector.”
In March this year, HitPay collaborated with NPCI International Payments Limited (NIPL) to increase Unified Payments Interface (UPI) acceptance in Singapore.
This partnership aims to facilitate QR code-based payments for Indian travellers at various locations in Singapore.
In 2024, HitPay secured a major payment institution (MPI) licence from the Monetary Authority of Singapore (MAS), enabling it to offer services such as merchant acquisition and money transfers.
