Payment platform for SMEs HitPay has announced the integration of Flagright’s security technologies, aiming to ensure the safety and compliance of its payment solutions.
As part of the collaboration, HitPay is set to utilise Flagright’s security technologies to ensure that its payment solutions maintain security as the company expands its services across Southeast Asia and globally. HitPay merges online, point-of-sale, and B2B payments into a single, integrated payment processing system. Currently, according to its data, the company serves more than 15,000 businesses, supporting them in processing payments more effectively.
After obtaining an MPI licence from the Monetary Authority of Singapore (MAS) in June 2024, the company has further broadened its services to include merchant acquisition and money transfers. This advancement underlines HitPay’s commitment to offering secure and efficient payment solutions for SMEs.
How will Flagright support HitPay?
Through Flagright’s AI technology and user-friendly, no-code platform, HitPay is set to be able to implement comprehensive compliance and fraud prevention measures. By working together, the two companies seek to advance their shared objectives by offering optimal and secure financial solutions that meet the needs, demands, and preferences of SMEs.
Furthermore, commenting on the news, representatives from HitPay emphasised that collaborating with Flagright and using its transaction monitoring and AML compliance solution will enable their company to safeguard its customers’ transactions and ensure compliance with regulatory requirements. Additionally, the partnership focuses on ensuring that HitPay continues to deliver secure and efficient payment processing.
Latest news from Flagright
Just over a month before this announcement, Flagright joined forces with Integrated Finance, aiming to address the complexities faced by fintech companies, specifically the long time it took for them to build their infrastructure and compliance before they could start product development. Integrated Finance was set to offer the required infrastructure, including accounts, cards, and payment processing, while Flagright handled real-time AML compliance, risk scoring, and transaction monitoring.
