OCTOBERASIA BUSINESS OUTLOOK8NEWSROOMHitPay, a Singapore-based payments platform serving over 20,000 small and medium-sized businesses, has partnered with Triple-A, a regulated cryptocurrency payment provider, to enable stablecoin payments for merchants across Singapore.Both firms are licensed as Major Payment Institutions by the Monetary Authority of Singapore (MAS), ensuring regulatory compliance and trust in crypto-enabled financial services. The collaboration allows businesses to accept stablecoins for e-Commerce and in-store transactions, with instant conversion to fiat currency, thereby eliminating exposure to crypto price volatility.According to the companies, merchants can activate the new payment feature within minutes through HitPay's dashboard, enabling faster adoption and minimal technical setup.This initiative aligns with Singapore's growing role as a regional leader in digital payments and crypto innovation, while maintaining regulatory safeguards.Industry data cited by HitPay highlights surging demand for cryptocurrency transactions in Singapore. Chainalysis reported that local merchant services received nearly $1 billion in cryptocurrency payments during Q2 2024, reflecting the accelerating integration of blockchain-based payments into mainstream business operations.The partnership aims to support businesses in enhancing transaction efficiency, expanding payment options, and embracing financial innovation under Singapore's robust fintech framework. Referring to Tech Mahindra's they reported (EBIT) at 1,699 crores ($192 million) for Q2 2025, an annualized growth of +32.7 percent with their revenues at 13,995 crores (US$1.6 billion) demonstrating an increase of +5.1 percent versus Q2 FY24.The India-based IT services company announced new deal wins totaling $816 million in total contract value, a substantial increase of +35 percent year-on-year growth.Profit after tax stood at 1,195 crores ($135 million), reflected a -4.7 percent decline from last quarter and Tech Mahindra's EBIT margin at 12.1 percent was a positive change of +254 basis points versus Q2 FY24.Free cash flow position for the quarter stood at $237 million and Tech Mahindra also announced the launch of their new AI platforms TechM Orion, and their partnership with Nvidia, AMD and JP Morgan Payments. HITPAY, TRIPLE-A ENABLE STABLECOIN PAYMENTS IN SINGAPORE TECH MAHINDRA Q2 PROFIT SOARS 33 PERCENT ON STRONG DEAL WINS & AI PUSH· HitPay partners with Triple-A to enable stablecoin payments in Singapore· Merchants can convert crypto to fiat instantly, minimizing volatility risk· Partnership regulated by MAS supports growing crypto payment adoption· Tech Mahindra Q2 EBIT surges 32.7 percent YoY to 1,699 crore, driven by strong operational performance.· New deal wins hit $816 million, marking a robust 35 percent year-on-year growth in total contract value.· Tech Mahindra launches AI platform TechM Orion and partners with Nvidia, AMD, & JP Morgan Payments to boost innovation.
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