HITPAY Payment Solutions, Inc. has partnered with financial technology company Ingenico to launch an all-in-one system that will allow small and medium enterprises (SMEs) to accept major types of payments like cards and e-wallets for transactions.
The payments system, available via an integrated smart terminal, lets merchants process transactions made via major credit and debit cards, e-wallet QRs, and even cross-border payments.
The smart terminal also allows SMEs to manage end-to-end operations from a single platform, including unifying online and offline payment methods, issuing invoices, and automating recurring billings.
HitPay said this would help improve small businesses’ cash flow and operations. The partnership also leverages Ingenico’s global payments network and HitPay’s network made up of 25 regional payment partners to allow SMEs to serve both domestic customers and tourists.
“As the Philippines accelerates its ‘cash-lite’ goal, SMEs need to provide choice, speed, and security at checkout without being overwhelmed by complex software, multiple reconciliation steps, and high integration costs,” HitPay Co-Founder and Chief Executive Officer Aditya Haripurkar said in a statement.
“Our collaboration with Ingenico goes beyond terminals and transactions; it is about democratizing access to enterprise-grade tools, giving SMEs the confidence to play their full part in the Philippines’ digital future,” Mr. Haripurkar said.
Hitpay has already rolled out the terminal to businesses in industries like retail, food & beverage, and travel. “The partnership aims to equip 10,000 SMEs in the Philippines in the next two years.”
“Ingenico’s mission has always been to simplify payments for businesses of every size. By working with HitPay and leveraging a comprehensive network of payment and banking partners, we’re giving Filipino SMEs access to secure and innovative tools that allow them to grow and stay relevant in a fast-changing market,” Ingenico Southeast Asia Channel Markets Head Xavier Michel said.
HitPay has an operator of payment system license from the Bangko Sentral ng Pilipinas. — Aaron Michael C. Sy