HitPay launches CFO Stack with Virtual Accounts for SME B2B collections
Payment infrastructure provider HitPay has launched CFO Stack, a suite of financial tools for SMEs, starting with B2B collections via Virtual Accounts. The feature is now live in Singapore and the Philippines, with BillPay, Payroll and Spend Management to follow in later phases.
Payment infrastructure provider HitPay has launched CFO Stack, a range of financial tools designed to simplify payment management for small and medium enterprises (SMEs). The suite will be rolled out in phases, beginning with business-to-business (B2B) collections featuring real-time payment confirmation and reconciliation, alongside other payment methods such as cards, PayNow/QR and payment links.
HitPay's Virtual Accounts give businesses dedicated account details that corporate customers can transfer to, with real-time confirmation via the HitPay Dashboard while payments are recorded as a charge alongside other HitPay transactions. Funds received go into the merchant's HitPay Wallet and are paid out to its linked external bank account based on its payout schedule.
“Growing businesses manage more than customer payments. They also collect from other businesses, track incoming funds and keep financial records accurate,” said HitPay Co-Founder and Chief Executive Officer Aditya Haripurkar. “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 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, the company said.
Citing a study by McKinsey, HitPay said B2B payments are becoming increasingly digital across Southeast Asia, with AI-powered agentic workflows enabling automation in both payable and receivable processes. The Virtual Accounts feature is already live in the Philippines and Singapore, and HitPay supports more than 15,000 finance teams across Singapore, the Philippines and Malaysia.
The company will launch BillPay under the second phase of CFO Stack, followed by Payroll and Spend Management under the third phase. “With Virtual Accounts, we are helping businesses bring B2B collections into the same environment as the rest of their payment activity,” Mr. 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.”
