The HitPay balance comprises of net balance amounts (after HitPay fees deducted) for payments accepted through PayNow QR, GIRO, GrabPay, PayLater by Grab and Zip.
The HitPay Balance comprises of 4 balance buckets
1. Available to pay out
2. On the way to your bank
An explanation of each of the balance buckets is below:
Available to pay out
- Includes funds that are ready to be paid out now. You can choose to automatically payout as per the payout schedule here or manually payout. Manual payout allows you to keep your balance in HitPay without paying into your bank account.
On the way to your bank
- Includes funds that are in transit and not yet available to be paid out to your bank account.
- Includes funds that can be used to pay for refunds and chargebacks. Funds can be added to the Reserve fund from the Available to pay out funds.
- Funds that are reserved to cover a negative balance on a HitPay account. Deposits are applied by HitPay for merchant accounts from high-risk categories