HitPay introduces Payout APIs. Source: Shutterstock.com

HitPay, the commerce infrastructure for businesses, has introduced mass payouts starting in Singapore, Malaysia and the Philippines. Businesses can now seamlessly pay workers, contractors, partners, and suppliers via HitPay. Marketplace and platform-based businesses can also securely manage mass payouts with HitPay’s Payout APIs.

Supported payment networks include FAST in Singapore, RTGS in Malaysia, as well as InstaPay and PESONet in the Philippines. HitPay will soon be supporting PayNow payouts in Singapore and DuitNow payouts in Malaysia and will launch additional payment rails in 2024.

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With the introduction of its Payout APIs, HitPay expands its end-to-end payment solutions that streamline online payments, point of sale and B2B payments.

HitPay’s Payout APIs’ features

HitPay’s Payout APIs help businesses streamline operations and improve cash flow efficiency. Its features include a single API integration with mass payout capabilities.With a single Payout API call, businesses can send payouts to one or multiple recipients, without the need for intermediaries.

It also includes built-in compliance with fraud protection. HitPay’s Payout APIs have built-in compliance features, including transaction monitoring and fraud protection. HitPay is a registered operator of a payment system regulated under the Bangko Sentral Ng Pilipinas (BSP) and is regulated by the Monetary Authority of Singapore.

Further features include flexibility and automation, businesses can set up flexible payout instructions and reconciliation based on their payment preferences. Detailed reporting, businesses receive comprehensive insights on their transactions, enabling better tracking and management of payouts all on one account. It also includes 24/7 payouts Singapore and the Philippines. Businesses can send funds with no cut-off times or restrictions. This ensures timely payments, increases loyalty with partners and platform users, and speeds up access to funds.

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HitPay will support additional payment rails in the coming year, expanding its mass payout capabilities to more countries. Upcoming releases in 2024 include domestic payouts in Indonesia, Thailand, Vietnam, and Australia. HitPay will also introduce global cross-border payouts using payment networks, e-wallets, and OTC channels. This will provide businesses with a comprehensive solution for managing payouts in different countries and currencies, with just one integration.