Hitpay Launches CFO Stack to Simplify SME Finance Operations

Phase One introduces Virtual Accounts, helping businesses collect B2B bank transfers with real-time confirmation and simpler reconciliation, with BillPay and Payroll planned as the next phases.

CFO Stack Phase One introduces HitPay Virtual Accounts, allowing businesses to receive bank transfers from corporate customers within the same HitPay account they already use to accept customer payments.
Virtual Accounts bring B2B collections into HitPay, with real-time payment confirmation and reconciliation alongside other payment methods, including cards, PayNow/QR and payment links.
BillPay, Payroll and Spend Management will follow as the next phases of the CFO Stack, extending HitPay into supplier payments and broader finance workflows.

HitPay, a payment platform for small and medium-sized enterprises across Southeast Asia, today launched the first phase of its CFO Stack, a suite of finance tools designed to help businesses manage more payment operations in one place. Phase One introduces HitPay Virtual Accounts, allowing businesses to manage both customer payments and B2B collections within one HitPay account. Businesses can continue accepting payments through existing HitPay payment methods while receiving bank transfers from corporate customers through Virtual Accounts.

Supporting more than 15,000 finance teams across Singapore, the Philippines and Malaysia, HitPay is adding Virtual Accounts to help businesses reduce manual work and improve payment operations as they scale.

As B2B payments become increasingly digital across Southeast Asia, finance teams are managing more collections, payables and reconciliation flows across disconnected systems. McKinsey notes that AI-powered agentic workflows are enabling the next level of automation in both payable and receivable processes, as CFOs look to monitor working capital in real time and reduce manual finance work. In Singapore, around four in five businesses surveyed by Atradius reported overdue B2B invoices, with delays often linked to internal processes, approval cycles and invoicing issues.

“Growing businesses manage more than customer payments. They also collect from other businesses, track incoming funds and keep financial records accurate,” said Aditya Haripurkar, Co-Founder and CEO of HitPay. “But SMEs have traditionally had to stitch these workflows together across different tools. CFO Stack is being built to bring more of these financial operations into one platform, starting with B2B collections through Virtual Accounts.”

Virtual Accounts: bringing B2B collections into HitPay

Corporate customers often rely on bank transfers because they fit existing accounting and approval processes. For businesses receiving those payments, this can create additional manual work, from confirming incoming funds to reconciling transactions against invoices.

HitPay Virtual Accounts give businesses dedicated account details that corporate customers can transfer to. When a transfer arrives, businesses receive real-time confirmation in the HitPay Dashboard, and the payment is recorded as a charge alongside other HitPay transactions, bringing B2B collections into the same reporting and reconciliation workflow.

Virtual Accounts are designed for businesses collecting higher-value B2B transfers. Instead of percentage-based collection fees, businesses pay a fixed cost per transfer, helping them manage larger payment amounts more efficiently.

Live in Singapore and the Philippines, Virtual Accounts operate under HitPay’s regulatory licences as a Monetary Authority of Singapore (MAS) Major Payment Institution and a Bangko Sentral ng Pilipinas (BSP)-registered payment system operator.

Virtual Accounts are a collection method, not a bank account. Funds received flow into the merchant’s available HitPay Wallet and are paid out to its linked external bank account according to its normal HitPay payout schedule.

The CFO Stack roadmap

The CFO Stack expands HitPay’s platform with tools designed to help growing businesses manage more financial workflows in one place.

BillPay will follow as Phase Two, helping businesses manage supplier invoices, approvals and payments within the same platform. Payroll and Spend Management will form Phase Three, extending the CFO Stack further across more finance workflows growing businesses manage every day.

“With Virtual Accounts, we are helping businesses bring B2B collections into the same environment as the rest of their payment activity,” Haripurkar added. “The next phases of CFO Stack will continue building towards a more connected finance platform, where businesses can manage more of their financial operations in one place.”