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.
The partnership is driven by the evolving regulatory landscape in the region. With compliance standards becoming more stringent, the integration of Flagright’s technology will help HitPay ensure its customers meet the necessary requirements while maintaining secure transaction processing.
Flagright delivers real-time fraud detection, transaction monitoring, and anti-money laundering (AML) compliance solutions. The company supports FinTechs with fast, API-first infrastructure to meet regulatory obligations and protect their customers’ data.
HitPay, meanwhile, is trusted by over 15,000 businesses and provides an integrated platform for online, point-of-sale, and B2B payment solutions. The firm recently obtained a major payment institution (MPI) licence from the Monetary Authority of Singapore (MAS), enabling it to offer expanded services such as merchant acquisition and money transfers. This milestone reinforces HitPay’s commitment to secure, scalable, and compliant financial services for SMEs.
The partnership is expected to empower HitPay with the ability to maintain high security standards while navigating the complexities of regulatory compliance. By embedding Flagright’s tools, HitPay will be able to scale confidently across Southeast Asia and other regions with robust fraud prevention and AML capabilities.
Both companies are alumni of the Y Combinator accelerator, sharing a common foundation in tech-driven innovation. Their collaboration highlights the growing trend of FinTechs joining forces to address critical challenges in the payments ecosystem, particularly in high-growth regions like Southeast Asia.
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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