HitPay, a unified payment platform serving SMEs, has formed a new partnership with Flagright to enhance payment security and regulatory compliance as HitPay scales across Southeast Asia.
This partnership comes in response to increasingly complex regulatory requirements in the region. By integrating Flagright’s compliance infrastructure, HitPay aims to ensure its payment services remain secure and aligned with these evolving standards.
Flagright provides a suite of tools focused on real-time fraud detection, transaction monitoring, and AML compliance. Its API-first platform enables FinTechs to build secure systems and meet global regulatory needs quickly and efficiently.
HitPay serves more than 15,000 businesses and combines online, point-of-sale, and B2B payments into one integrated system. The company recently secured a major payment institution (MPI) licence from the Monetary Authority of Singapore (MAS), allowing it to expand into merchant acquisition and money transfer services. This achievement signals HitPay’s growing role in delivering compliant, reliable services to SMEs.
By working with Flagright, HitPay will have access to advanced compliance tools that support their expansion strategy while keeping their payment ecosystem protected against fraud and financial crime.
Both companies share a background as Y Combinator alumni and a focus on technology-driven financial services. This collaboration reflects a broader industry trend where FinTechs combine strengths to overcome regulatory and operational challenges in emerging markets.
HitPay co-founder and CEO Aditya Haripurkar said, Partnering with Flagright is a crucial step in reinforcing our commitment to security and compliance. Flagright’s cutting-edge transaction monitoring and AML compliance solution will enhance our ability to protect our customers’ transactions and ensure compliance with stringent regulatory standards. As a fellow Y Combinator company, we share a common vision of leveraging technology to drive innovation and security in the financial sector. This collaboration ensures that HitPay continues to set the benchmark for secure and efficient payment processing.
Flagright co-founder and CEO Baran Ozkan said, We are thrilled to support HitPay, a leader in the payment processing industry and a fellow Y Combinator company. Our collaboration reflects our shared commitment to enhancing security and compliance in financial services. We look forward to supporting HitPay’s mission to provide secure and seamless payment solutions for SMEs across Southeast Asia and the globe.
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