Multicurrency Collection
Virtual Accounts
Consolidate InstaPay/PESONet transfers from partners across Luzon, Visayas, and Mindanao. Card, PayNow, GCash, QR, local transfers, or SWIFT — everything lands in the same HitPay Wallet.
WHAT YOU CAN COLLECT
Here's what businesses use their HitPay Multi-Currency Virtual Accounts for:
Business collections & receivables
Collect what customers and clients owe you, all in one account - no separate bank account or spreadsheet to reconcile against your HitPay dashboard.
Invoice receivables
Put your account and SWIFT details on invoices and get paid by direct bank transfer. No payment link or checkout page required.
B2B collections
Receive high-value payments from partners, distributors, and marketplaces — settled locally where possible, via SWIFT everywhere else.
01. REMOVE THE HASSLE
Storefront-plus-B2B businesses typically run two systems: A payments platform for customers and a separate account for business transfers. These two systems are often reconciled by hand each cycle.
HitPay collapses both into one HitPay Wallet: the same dashboard accepting card, PayNow, GCash, or QR from customers also receives local-currency transfers from partners and SWIFT wires from overseas clients, for Singapore and Philippine entities alike.
Customer payments (C2B) - cards, GCash, QR PH, ShopeePay, GrabPay, SPayLater, BillEase, payment links
Inbound transfers - any InstaPay or PESONet-enabled bank or e-wallet
One dashboard, one ledger, one reconciliation export - no manual matching
Same account, same login - no second app for incoming transfers
02. AVOID CONVERSION & WIRE FEES
HitPay issues dedicated local accounts instead of routing everyone through SWIFT. SGD (FAST/PayNow) and PHP (InstaPay/PESONet) settle instantly; EUR, GBP, and AUD currently arrive via SWIFT alongside USD, HKD, and others. Whichever rail it travels on, every collection lands in the same HitPay Wallet. Local EUR, GBP, and AUD accounts are coming soon, so European, UK, and Australian clients will be able to pay in like a local business. Per-collection fees apply and vary by currency.
SGD & PHP - instant local settlement via FAST/PayNow and InstaPay/PESONet
EUR · GBP · AUD - dedicated local accounts for Singapore entities (SEPA, Faster Payments/CHAPS, NPP) - coming soon
Fees and eligibility vary by market and currency - see full pricing
03. SAFE & SECURE
Frozen balances, delayed access, and no one to call are the most-cited complaints about EMI-backed competitors. Your HitPay Wallet gives you one consolidated view across every currency, while each balance sits behind the scenes in its own regulated banking partner account, in your business’s own name — never pooled with other businesses’ funds.
Regulated banking and financial institution partners, not a single e-money pool
PHP 0 monthly account fees, PHP 0 setup fees
Predictable pricing regardless of sending bank or e-wallet
Operating within the Philippine regulatory framework
04. SAVE ON UNNECESSARY CHARGES
No account-opening fee, monthly charge, or new vendor to set up. Existing HitPay merchants activate the HitPay Multi-Currency Virtual Account from their dashboard, no second KYB. Complete one onboarding and get customer payment tools plus your market's accounts together.
Already using HitPay? Activate your Multicurrency Virtual Account from the dashboard, with auto approval
New businesses require just one sign-up to unlock multiple market-appropriate accounts
Zero hardware. Share your account details digitally with payers
0 monthly fees. Pay only when you collect
ONE PRODUCT, TWO MARKETS
Here's what each market includes:
Singapore
SGD Accounts
Local SGD account plus SWIFT reach 10+ currencies - unified with customer payments. Local EUR, GBP & AUD accounts coming soon.
Learn More →
THE Philippines
PHP Accounts
A persistent local PHP account reachable by any InstaPay or PESONet bank or e-wallet - unified with customer payments.
Learn More →
0
Monthly account fees, either market
13
Currencies receivable across both markets
2
Local currency accounts today - SGD, PHP (EUR, GBP, AUD coming soon)
1-3
Business days to approval
What is HitPay’s Collection Account (Virtual Account)?
A Collection Account is a dedicated receiving account in your business’s registered name for inbound business payments: invoices, receivables and B2B transfers. It is a collection method, not a bank account. Receipts settle into the same HitPay Wallet as your card, PayNow and POS sales, so customer payments and receivables share one ledger. It is available to businesses registered in Singapore (ACRA-registered private limited company, LLP, sole proprietorship or partnership) or the Philippines. See the Virtual Accounts docs.
What currencies can a business receive, and which settle locally versus via SWIFT?
Singapore-registered entities receive SGD in real time via FAST/PayNow, plus SWIFT reach to 12 currencies total (SGD, USD, EUR, GBP, AUD, HKD, CNH, CAD, NZD, NOK, SEK, CHF). Philippines-registered entities receive PHP in real time via InstaPay or PESONet; SWIFT reach is not currently supported for Philippines-registered entities. Combined, that’s 13 currencies across both markets.
Will local EUR, GBP, AUD, and PHP receiving accounts be available for Singapore-registered entities?
Yes - local receiving accounts in EUR, GBP, AUD, and PHP for Singapore-registered entities are coming soon. Until EUR, GBP, and AUD are available, these currencies are received via SWIFT into the SGD account structure; PHP is not yet available for Singapore-registered entities.
How much does the Singapore Collection Account cost?
There is no setup fee and no monthly fee. SGD receipts via FAST/PayNow are S$0.50 per collection and AUD is A$3.00. Other listed inbound currencies (USD, EUR, GBP, HKD, CNH, CAD, NZD, NOK, SEK and CHF) are free. Converting to SGD uses 1% over the interbank mid-rate. Confirm live figures on the Singapore pricing page and the Virtual Accounts docs.
Does a business need to open a new account to use this?
No. Existing HitPay merchants can activate a Virtual Account straight from the dashboard, with no new sign-up and no extra business verification. New businesses complete a single onboarding - ACRA in Singapore, DTI/SEC in the Philippines - and get both customer payment tools and the Virtual Account together.
How are funds safeguarded, and is HitPay MAS-licensed?
Each account is held in your business’s own name with a regulated banking partner, never pooled with other merchants’ money. HitPay Payment Solutions Pte. Ltd. is a MAS Major Payment Institution, licence PS20200643. Details on the licences and registrations page.
How is this different from Airwallex or Stripe?
Airwallex is often the fit when multi-currency treasury and FX cash management is the primary purchase; see HitPay vs Airwallex Singapore and verify Airwallex fees on their own site. Stripe is commonly compared for card and checkout stacks; see HitPay vs Stripe. A HitPay Collection Account is for receivables landing in the same HitPay Wallet as PayNow checkout, POS and payment links, rather than a separate treasury stack.
Is a Virtual Account a bank account I can hold funds in?
No. A Virtual Account does not hold or store funds. It’s a collection method, not a bank account - you can’t hold money in it or send money out. Every transfer received is swept immediately into your Available HitPay Wallet and paid out on your normal payout schedule, just like the rest of your HitPay sales. See How funds flow.
What documents are required to open a Virtual Account?
Singapore entities provide their ACRA UEN and the director’s NRIC or passport (sole proprietors: NRIC and Myinfo). Philippines entities provide DTI or SEC registration and a valid government ID. Both markets require a local business bank account. Sign-up is fully online with no setup fee; approval takes 1–3 business days.
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