HitPay, a prominent payment platform for small-to-medium enterprises, has launched Borderless QR, a new software solution designed to streamline international payments for merchants across Southeast Asia. This innovation allows merchants to generate dynamic QR codes for international visitors, enabling payments through preferred home wallets like WeChat Pay and PromptPay, with next-day settlement in local currency.
The introduction of Borderless QR is significant as it addresses the complexities faced by Micro, Small, and Medium Enterprises (MSMEs) in navigating diverse international payment standards. By consolidating these into a single, user-friendly interface, HitPay empowers its network of over 20,000 merchants to offer a seamless shopping experience to tourists, who can pay in their home currency without additional fees.
Aditya Haripurkar, CEO of HitPay, stated, “Borderless QR is about supporting the region’s spirit of collaboration by providing a streamlined checkout flow. Merchants can simply select a customer’s home country to generate a specific QR with a real-time converted amount.”
The rollout is initially focused on Singapore, Malaysia, and the Philippines, with plans for rapid scalability. Early adopters, such as lifestyle retailer The Paper Bunny, have already embraced the solution, enhancing their ability to cater to the growing number of regional tourists.
As the Southeast Asian tourist economy is projected to reach $39.52b by 2026, HitPay’s Borderless QR positions local merchants to capture this burgeoning market effectively, ensuring they remain competitive in a connected digital economy.
