HitPay has launched Virtual Accounts in the Philippinesas the first phase of CFO Stack, a set of financial tools designed to bring more small-business payment operations into one platform. BusinessWorld reported that the feature supports business-to-business collections with dedicated account details, real-time payment confirmation, and reconciliation alongside other payment methods. HitPay said CFO Stack will roll out in phases, giving SMEs a way to manage incoming corporate transfers without stitching together separate tools for every step of the process.
**The Virtual Accounts feature is built around faster confirmation and simpler reconciliation.**Corporate customers can transfer funds using dedicated account details, while the merchant sees real-time confirmation in the HitPay Dashboard. The transaction is recorded alongside other HitPay activity, helping businesses match incoming money to invoices with less manual checking. HitPay says businesses pay a fixed cost per transfer rather than a percentage-based collection fee, a structure that may be more predictable for larger B2B payments, although businesses should review the provider’s current terms before using the service.
Money received through Virtual Accounts flows into the merchant’s HitPay Walletand is then paid to a linked external bank account according to the merchant’s normal payout schedule. The feature is already live in the Philippines and Singapore, and HitPay said it supports more than 15,000 finance teams across Singapore, the Philippines, and Malaysia. For Philippine SMEs, the rollout is relevant because it combines collection details, payment status, and payout handling in a single workflow instead of requiring separate reconciliation steps across multiple systems.
**HitPay plans to add more finance functions after the initial collections launch.**The company said the second phase of CFO Stack will introduce BillPay for supplier invoices, approvals, and payments, while the third phase will cover Payroll and Spend Management. The Business Manual also reported that HitPay’s Virtual Accounts feature is registered with the Bangko Sentral ng Pilipinas as a payment system operator. SMEs considering the service should still check eligibility, fees, payout timing, and regulatory disclosures directly with HitPay before onboarding.
