Singapore · Payments & e-money
Hitpay Payment Solutions Pte. Ltd.
HitPay Payment Solutions Pte. Ltd. is a private company limited by shares with its head office in Singapore. The Monetary Authority of Singapore (MAS) licenses the firm as a Major Payment Institution under the Payment Services Act, licence PS20200643. The licence covers domestic money transfer, cross-border money transfer and merchant acquisition services. The firm is venture-backed and its LEI record reports no parent company. Under the HitPay brand it sells payment acceptance, point-of-sale, invoicing and payout tools to small and medium-sized businesses. It received the MAS licence in June 2024 and was formerly named Beacon Hustle Pte. Ltd.
Licences and registrations
Held by Hitpay Payment Solutions Pte. Ltd. (LEI 549300B5VEYO8OWBDZ32). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
|---|---|---|---|---|---|---|---|---|
| MAS Financial Institutions Directory - Major Payment InstitutionMonetary Authority of Singapore (MAS)Linked by LEI. Matched by Elucidate to GLEIF on name, country and address. | Major Payment InstitutionPayment Institution | Not published by the register | Singapore | Active | — | — |
|
Search the register ↗ |
- Licences belong to the legal entity, not to a BIC.
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
- The register entries and their trading names were not matched against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
Swift network
Swift’s ISO 9362 BIC directory
- BIC
- HITPSGS2XXX head office
- Connection to Swift
- Reverse billingThe institution is connected to Swift. Messages sent to it are billed to the institution, not to the sender. The “2” in the eighth character of HITPSGS2 marks reverse billing.
- Swift GPI
- Not on the member list
- Payment schemes and systems
- No entry in the EPC registers, the ECB T2 and TIPS lists or the SIX Bank Master cites this BIC
- Branch codes
- None: head-office BIC only
- BIC first registered
- 2022-08-06
- Last updated
- 2022-08-06
Overview
Researched 29 Sep 2026 · Sources
Employees
Not published
Ownership
Venture-backed
Firm type
Merchant acquiring and processing
Trades as HitPay
- Ownership
- The LEI record reports no parent company and gives natural persons as the reason, and the firm names Tiger Global, Global Founders Capital, HOF Capital and Y Combinator as investors.
- Head office
- 88 Market Street, Level #40-01, CapitaSpring, 048948 Singapore, Singapore (registered office: 1 Keong Saik Road, Singapore 089109)
- Company register
- ACRA UEN 201605883W
- Incorporated
- 8 Mar 2016
- Founders
- Aditya Haripurkar · Nitin Muthyala
- Former name
- BEACON HUSTLE PTE. LTD.
Online
- Websites & references
- hitpayapp.com ↗
docs.hitpayapp.com ↗ developer documentation
status.hitpayapp.com ↗ status page
dashboard.hit-pay.com ↗ merchant dashboard login
hitpayapp.com/sg ↗ Singapore country site (website listed on the MAS register) - Official social accounts
- None found
Sources · 13 pages consulted
- eservices.mas.gov.sg/fid/institution/detail/250313-HITPAY-PAYMENT-SOLUTIONS-PTE-LTD
- lei.bloomberg.com/leis/view/549300B5VEYO8OWBDZ32
- hitpayapp.com/license-registrations
- hitpayapp.com/
- hitpayapp.com/sg/
- hitpayapp.com/terms-of-service
- hitpayapp.com/blog/hitpay-series-a
- fintechnews.sg/96823/payments/hitpay-secures-payment-license-from-mas/
- thepaypers.com/payments/news/hitpay-obtains-mpi-licence-from-mas
- dealstreetasia.com/stories/hitpay-mpi-licence-mas-385041
- bworldonline.com/banking-finance/2026/09/17/777854/hitpay-launches-sme-solutions/
- technode.global/2026/09/18/hitpay-cfo-stack-b2b-virtual-accounts-singapore-philippines/
- hitpayapp.com/blog/statement-on-illegal-impersonation-of-hitpay
Authorisation
Researched 29 Sep 2026 · Sources
- Operates under
- Several models
- Licensed firm it operates under
- Stripe Payments Singapore Pte. Ltd., Singapore Singapore Payment Partner. The July 2024 terms of service describe HitPay as a gateway provider and state that the partners undertake payment processing.
MAS licenses the firm as a Major Payment Institution under the Payment Services Act, licence PS20200643. The firm states that it may also provide these services together with other MAS-licensed or exempt partners, such as Stripe, GrabPay, ShopeePay and Atome.
| Authority | Licence or registration | Number | Held | Status | Source |
|---|---|---|---|---|---|
| Monetary Authority of Singapore Singapore | Major Payment Institution (Domestic Money Transfer Service, Cross-border Money Transfer Service, Merchant Acquisition Service) | PS20200643 | In its own name | Active | eservices.mas.gov.sg ↗ |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
Partners and safeguarding
Researched 29 Sep 2026 · Sources
- Safeguarding
- Segregated safeguarding accountsThe firm states that customer funds are safeguarded in a trust account at its designated safeguarding institution. Funds in that account are commingled with other customers' funds.
- Acquirer / processor
- Stripe Payments Singapore Pte. Ltd. Singapore
- Payment schemes and card networks
- Visa Through a partner hitpayapp.com ↗
Mastercard Through a partner hitpayapp.com ↗
PayNow Access not stated hitpayapp.com ↗
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
Products and markets
Researched 29 Sep 2026 · Sources
The firm offers online checkout, payment links, point-of-sale apps and card terminals, invoicing, recurring billing, cross-border QR acceptance, FX payouts and B2B virtual accounts for collections.
The MAS licence covers the firm's services in Singapore. Sister companies serve merchants in the Philippines, Malaysia, Indonesia, Australia and New Zealand under their own registrations.
- Sells to
- Small businesses · Enterprises · Platforms and marketplaces
- Serves customers in
- Singapore
- Latest funding round
- Series A · USD 15.8m May 2022Led by Tiger Global
Leadership
Researched 29 Sep 2026 · Sources
- Chief executive
- Aditya Haripurkar Co-Founder and Chief Executive Officer
Recent events
Researched 29 Sep 2026 · Sources
-
Other
The firm launched the first phase of its CFO Stack, starting with Virtual Accounts for B2B collections in Singapore and the Philippines.
technode.global ↗ -
Licence
MAS granted the firm a Major Payment Institution licence for merchant acquisition and domestic and cross-border money transfer services.
fintechnews.sg ↗ -
Licence
MAS gave the firm in-principle approval for a Major Payment Institution licence.
dealstreetasia.com ↗
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
Identifiers
Head-office record
- BIC
- HITPSGS2XXX
- How the BIC breaks down
- HITPBank
- SGCountry · Singapore
- S2Location · reverse billing
- XXXBranch · head office
- Branch description
- Not recorded in the directory
- LEI
- 549300B5VEYO8OWBDZ32
- LEI record
- View on GLEIF ↗
- How the LEI was matched
- BIC: Mapped to this BIC in the Swift and GLEIF BIC-to-LEI relationship file.Register entry: Matched by Elucidate to GLEIF on name, country and address.
- Register-entry ID
- a7c51c016235
Profile
- Type
- Payments & e-moneyPayment institutions, e-money and stored-value issuers, and account-information providers. Licensed under payment-services law (e.g. PSD2 in the EU and UK, the Payment Services Act in Singapore). Taken from the licences on the tracked registers.
- Regulation
- Prudential licenceAuthorised with capital, safeguarding and conduct requirements, e.g. an authorised payment or e-money institution in the EU or UK, a major payment institution in Singapore, or a MiCA crypto-asset service provider.
- Register licences
- 1 entry on 1 register
- Activities
- Money remittance
- Payment services
- Card acquiring
- Licensed in
- Singapore
- Website (register)
- hitpayapp.com/sg ↗
- Country · region
- Singapore · East Asia & Pacific
- Trading venues (MIC)
- No MIC registered under this LEI list of 2026-09-17
- OFAC sanctions
- No listing cites this BIC
- EU sanctions
- No listing matched this BIC or its LEI
- Country sanctions
- No country programme
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
Ownership and group
GLEIF relationship records
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
Addresses
- Registered address
- 1 KEONG SAIK ROAD SINGAPORE 089109 SINGAPORE
- Operational address
- 1 KEONG SAIK ROAD SINGAPORE SINGAPORE 089109 SINGAPORE
ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
A CBPR+ message identifies this institution by its BIC, and may add its LEI or a clearing code. CBPR+ does not allow a name and postal address next to a BIC.
- Identified by
- BIC, with its LEI
- Roles in CBPR+
- Any agent, including the instructing and instructed agents
CBPR+
For cross-border payments on Swift: the BIC, with the LEI and clearing code where known
<FinInstnId>
<BICFI>HITPSGS2XXX</BICFI>
<LEI>549300B5VEYO8OWBDZ32</LEI>
</FinInstnId>Full record
Every ISO 20022 element the directory holds. Base ISO 20022 allows them together. CBPR+ does not allow a name and address next to a BIC
<FinInstnId>
<BICFI>HITPSGS2XXX</BICFI>
<LEI>549300B5VEYO8OWBDZ32</LEI>
<Nm>HITPAY PAYMENT SOLUTIONS PTE. LTD.</Nm>
<PstlAdr>
<TwnNm>SINGAPORE</TwnNm>
<Ctry>SG</Ctry>
<AdrLine>1 KEONG SAIK ROAD SINGAPORE 089109</AdrLine>
</PstlAdr>
</FinInstnId>The BIC, name and address are as published in Swift’s BIC directory. The LEI comes from the Swift and GLEIF BIC-to-LEI file. Check them against your own records before use.
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Sources & method
Every value comes from a public source, such as Swift’s ISO 9362 BIC directory, GLEIF or the OFAC and EU sanctions lists. Most sources are matched on a BIC or an LEI, not on a name.
Swift GPI membership is matched on names and is indicative. A missing sanctions match does not mean that no listing applies. Always screen against the official lists.
Register entries are not screened against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
Read the methodology →Credits for this page
- MAS Financial Institutions Directory - Major Payment Institution—Monetary Authority of Singapore (MAS) · register ↗ as at 25 September 2026
- Overview, authorisation, partners, products, leadership and events—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
- Images—logos and photos from Wikimedia Commons (credited with their author and licence) or from the institution's own website, where Wikimedia has none. Elucidate keeps a copy of each; the links lead to the source and the original image. Logo: hitpayapp.com (official website) · original.
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