HitPay has partnered with Ingenico to launch an all-in-one payment system aimed at improving the adoption of digital payments among small and medium-sized enterprises (SMEs) in the Philippines.

The collaboration aims to give SMEs faster access to their cash flow and simplify their operations.

The new system embeds HitPay’s software platform into Ingenico’s smart terminals. By doing so, it enables merchants to accept a wide range of payment methods.

These include major credit and debit cards, popular e-wallets like GCash and Maya, and global cross-border payments. The companies state that this will allow for faster payment settlement compared to traditional methods.

In addition to payment acceptance, the smart terminal provides a single platform for managing other business operations.

Merchants can unify their online and offline payment methods, issue invoices, automate recurring billings, and access business insights to aid in decision-making.

By combining Ingenico’s global payments network with HitPay’s network of 25 regional payment partners, the collaboration aims to help SMEs serve both domestic customers and international tourists more efficiently.

For the initial deployment, the two companies are focusing on businesses in the retail, food and beverage, and travel sectors, where the shift to digital payments has been significant.

HitPay, which operates as a BSP-regulated payment platform in the Philippines, and Ingenico have set a goal to support over 10,000 SMEs in the country within the next two years through this partnership.

Featured image by EyeEm via Freepik.