HitPay Achieves $25 Billion Annualized Payment Volume in 18 Months, Revolutionizing Southeast Asia Fintech

HitPay, a leading Southeast Asian payment gateway, has skyrocketed to an impressive $25 billion in annualized payment volumes within just 18 months.

This explosive growth underscores the surging demand for efficient digital payment solutions among SMEs in the region.

From Startup to Fintech Powerhouse: HitPay's Rapid Rise

Founded in 2020, HitPay emerged from Y Combinator's Summer 2021 batch with initial total payment volume reaching $5.4 million.

In 2022, the company secured a $15.8 million Series A funding round led by Tiger Global, fueling product development and merchant expansion to over 10,000 users.

Transaction volumes grew 8x that year, setting the stage for hyper-scaled adoption across Singapore, Malaysia, Philippines, and beyond.

Impact on SMEs and the SEA Payments Landscape

HitPay's platform empowers small businesses with low-cost POS, e-wallets, and real-time payments, delivering over $10 million in merchant savings in 2025 alone.

The shift to non-card payments has seen 124x growth since 2020, doubling overall TPV year-over-year and capturing a larger share of Southeast Asia's booming e-commerce market.

By integrating local methods like GrabPay and PayNow, HitPay addresses key pain points for merchants competing with giants like Stripe and Airwallex.

Future Expansions and Global Ambitions

Recent partnerships with Primer and Visa enable cross-border access to EU and US markets, positioning HitPay for international scaling.

With 2x YoY growth and 15 new integrations in 2025, the company eyes continued dominance in alternative payment methods across Asia Pacific.

Industry experts predict HitPay will play a pivotal role in Southeast Asia's digital economy, projected to process trillions in payments by 2030.