Singapore-based payments company HitPay has launched the first phase of its CFO Stack, starting with Virtual Accounts for business-to-business collections in Singapore and the Philippines.
The company said the new feature lets businesses receive bank transfers from corporate customers within the same HitPay account used for other payment methods. Transfers are confirmed in real time in the HitPay dashboard and recorded alongside card, PayNow or QR, and payment-link transactions for reconciliation.
HitPay is positioning CFO Stack as a broader set of finance tools for small and medium-sized enterprises. The company plans to add BillPay for supplier invoices, approvals and payments in a second phase, followed by payroll and spend-management functions.
B2B collections move into the payments dashboard
Virtual Accounts give a merchant dedicated account details that can be shared with corporate customers. HitPay said the product is aimed at higher-value transfers and uses a fixed fee per collection rather than a percentage-based charge.
The company said Virtual Accounts are a collection method rather than a bank account. Funds received flow into the merchant’s HitPay Wallet before being paid out to its linked external bank account under the merchant’s normal payout schedule.
HitPay’s product information says the service is available to Singapore- and Philippines-registered businesses. HitPay Payment Solutions Pte. Ltd. holds a Major Payment Institution license from the Monetary Authority of Singapore, while its Philippine entity is registered as an operator of a payment system with the Bangko Sentral ng Pilipinas.
HitPay said the addition is intended to reduce the manual work involved in matching incoming corporate transfers with invoices and other records. The company told TNGlobal that it supports more than 15,000 finance teams across Singapore, the Philippines and Malaysia.
Expanding beyond payment acceptance
The roadmap would extend HitPay beyond accepting customer payments into collections, payables and other day-to-day finance workflows. That puts the company closer to accounting and finance-operations software as payment providers across Southeast Asia look for additional services around transaction processing.
HitPay’s public CFO Stack materials already describe customer payments, B2B collections and supplier payments as parts of the same account environment. Payroll and spend management remain planned rather than live features.
The launch also gives HitPay a broader regional angle because Virtual Accounts are available in both Singapore and the Philippines. Product availability, supported currencies and pricing differ by market.
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