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March 05, 2024

BSP grants OPS license to Singapore’s Hitpay

Bangko Sentral ng Pilipinas (BSP) has granted HitPay, a Singapore-based payment platform for SMEs, a license to be a registered Operator of Payment System (OPS).

“We’re thrilled to launch HitPay in the Philippines and aid businesses in managing their payments with ease. Securing our OPS license marks a milestone in our goal of building strategic collaborations with local payment partners, and empowering Filipino businesses with an accessible, all-in-one payment solution,” said Aditya Haripurkar, HitPay’s Co-founder and CEO.

HitPay will allow SMEs to integrate a full suite of payment options on a single platform as well as set up no-code business tools to accept payments.

HitPay’s gateway is compatible with readily available payment methods including InstaPay QR PH, PESONet, GrabPay, Billease, over-the-counter payments, cards, e-wallets, and online bank transfers.

The firm also has a pending application to become a licensed major payment institution with the Monetary Authority of Singapore (MAS).