TransferMate Global Payments

What TransferMate Global Payments does

TransferMate Global Payments is an Ireland-based B2B payments infrastructure company, founded in 2012 and operating as a subsidiary of the CluneTech group. The company provides an API-first embedded payments platform that enables banks, financial institutions, software providers, payroll platforms, and large enterprises to integrate cross-border payment capabilities directly into their own products. Its core offering rests on what the company describes as the largest non-bank fintech licensing infrastructure in the world, covering 200+ countries and territories, 140+ currencies, and 100+ payment licenses, with virtual account functionality in 35+ currencies and ISO 27001/9001 certifications.

The product portfolio is built around four platform solutions: Embedded Payments (API integration for partners), International Receivables (API-powered invoicing and collections in local currencies), Global Accounts (multi-currency virtual accounts), and FX Forwards (currency risk management). Vertical solutions target education institutions (2,000+ partnered institutions, $750M+ annual collections, 40,000+ payments per year), global payroll providers, and enterprise accounts payable automation. Technology is delivered as a REST API with OAuth2 authentication, sandbox testing, and pre-built integrations into major ERP and procurement systems (SAP, SAP Concur, Coupa, Oracle via Cerdivo, Zone & Co, QuickBooks), with white-label and embedded deployment models.

TransferMate monetizes primarily through FX margins on cross-border transactions rather than explicit B2B payment fees, supplemented by API/platform licensing and white-label arrangements with bank and software partners. Named channel and end-customer relationships include Wells Fargo, Deutsche Bank, QNB Group, ING, Barclays, AIB, SAP, Coupa, CloudPay, Harvard, and Transact Campus. The company reached unicorn status in May 2022 at a $1B valuation following a $70M Series A led by Railpen, after earlier rounds with AIB (2017) and ING (2018), and reports processing $75B+ in annualised funds across 3M+ transactions.

Name

TransferMate Global Payments

Legal name

TransferMate Global Payments

Website

https://transfermate.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

251–500 employees

Short description

TransferMate Global Payments is an Ireland-based B2B payments infrastructure company that provides an API-first embedded payments platform, backed by 100+ licenses across 200+ countries, enabling banks, software providers, payroll platforms, and enterprises to integrate cross-border payment and FX capabilities directly into their own products.

Ownership category

akta.pro rank

Product category

Cross-Border B2B Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

SME & Business Cross-Border Payments (B2B) (FSAMAIAB)

akta.pro secondary industries

Cross-Border A2A & Bank Transfer Networks (FSAMAIAF), Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity) (FSAGAKAH), Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

Keywords

• Cross-border payments
• B2B payment infrastructure
• Embedded payment solutions
• FX risk management
• International money transfers

Headquarters

HQ city

Kilkenny

HQ country

Ireland

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. B2B Cross-Border Payments: TransferMate generates revenue through transaction fees on cross-border B2B payments. The company offers no B2B payment fees according to marketing materials, suggesting revenue may come from foreign exchange margins or premium services.
2. FX Margin Revenue: Revenue generated through foreign exchange margins when converting currencies across the 140+ supported currencies. Companies save $60 on average per transaction compared to traditional banks.
3. API/Platform Licensing: Revenue from embedding TransferMate's technology into partner platforms including banks, software providers, and fintechs through API integrations and white-label arrangements
4. Education Payments: Processing international student tuition and housing payments for educational institutions, with partnerships including 2,000+ partnered institutions

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

TransferMate operates a B2B cross-border payments infrastructure platform that enables banks, financial institutions, software providers, fintechs, and enterprises to embed international payment capabilities directly into their systems via REST APIs. The platform spans 200+ countries and territories and 140+ currencies, leveraging 100+ payment licenses and virtual accounts in 35+ currencies to deliver fee-free B2B payments with revenue generated through FX margins and white-label licensing.

Product overview

TransferMate Global Payments operates as a B2B payments infrastructure company offering a platform-plus-modules architecture. The core platform provides embedded payment solutions for partners and their clients, built on the world's largest fintech licensing infrastructure spanning 200+ countries, 140+ currencies, and 100+ licenses. The product portfolio centers on four main solutions: Embedded Payments (API integration for banks and software providers), International Receivables (invoicing and collections in local currencies), Global Accounts (virtual multi-currency accounts across 35+ currencies), and FX Forwards (currency risk management). Additionally, TransferMate offers vertical-specific solutions for education institutions and students, global payroll capabilities, and enterprise accounts payable automation. The platform processes over 3 million transactions annually with $75 billion in annualised funds processed.

Differentiator

Problem solved

Functional benefit

Products and services

• Embedded Payments API integration solution allowing banks, financial institutions, software providers, and fintechs to incorporate TransferMate's global payments network directly into their platforms for faster international B2B transfers.
• International Receivables API-powered solution that streamlines invoicing and international fund collection in local currencies, reducing manual work and accelerating collections with lower fees and FX rates.
• Global Accounts Virtual multi-currency account solution allowing businesses to open addressable accounts in 35+ currencies to transact globally like a local, with white-label and API integration options.
• FX Forwards Currency risk management tool that enables businesses to lock in exchange rates aligned to invoice dates, payroll runs, supplier payments, or capital expenditures to mitigate FX risk.
• Student Payments International student payment solution for paying tuition and housing fees with fee-free transfers, best rate assurance, payment tracking, and visa application support documents.
• Education Institutions Platform Platform powering global payables and receivables for education institutions, processing $750M+ in collections annually across 40K+ education payments per year for 2,000+ partnered institutions.
• Education Platforms Integration Embedded collection and payables solutions for education software providers, enabling faster, transparent, and cost-effective payments with full API integration.
• Global Payroll International payroll payment solution enabling businesses to pay employees globally with statutory compliance infrastructure and multi-currency support, expanded through the Cadana partnership.
• TransferMate Platform (Enterprise AP Automation) Enterprise-level payment platform providing end-to-end accounts payable automation, enabling businesses to move money instantly to over 200 countries and 140 currencies.
• Stablecoin Payment Capabilities Stablecoin payment capability integrated via BVNK partnership offering on-ramps and off-ramps for USDC and EUROC across global payroll, e-commerce, and international education use cases.

Quantifiable outcome

• Companies save $60 on average for every transaction completed with TransferMate
• +4 more outcomes

Named customers15 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature6 records

Partnerships

18 partnerships are on record, tiered strategic, minor, flagship and major.

• BVNKstrategicTechnology or Integration · 4 June 2026Integration of stablecoin payment capabilities into TransferMate's global payment rails, leveraging BVNK's embedded wallet and payment infrastructure to offer on-ramps and off-ramps for USDC and EUROC stablecoins, targeting global payroll, e-commerce, and international education sectors
• CadanastrategicTechnology or Integration · 13 April 2026Partnership to expand TransferMate's global payroll capabilities with statutory compliance infrastructure through Cadana's platform
• CerdivominorChannel Partner/ Reseller/ Distributor · 30 March 2026TransferMate named exclusive payroll payments partner of Cerdivo to accelerate global payroll infrastructure for Oracle customers
• Zone & CostrategicTechnology or Integration · 20 November 2025Zone & Co launched Zone AP Payments, the first ERP-native global payment solution powered by TransferMate, enabling instant money movement to over 200 countries and 140 currencies with competitive FX rates and compliance
• SAPflagshipTechnology or Integration · 10 November 2025TransferMate partnered with SAP as a non-bank payments provider for SAP Multi-Bank Connectivity, enabling SAP customers to execute international payments directly through SAP Cloud ERP and SAP S/4HANA Cloud solutions. This is a flagship partnership integrating TransferMate's cross-border payment capabilities into SAP's enterprise software ecosystem
• QNB GroupflagshipChannel Partner/ Reseller/ Distributor · 5 November 2025Strategic partnership with Qatar National Bank to expand cross-border payment services for QNB's corporate clients across 28 countries in Asia, Europe, and Africa. Integration enables multi-currency international collections and local account functionality, representing TransferMate's first banking partnership in the Middle East
• Deutsche BankflagshipChannel Partner/ Reseller/ Distributor · 2 June 2025Partnership with Deutsche Bank to facilitate business cross-border payments, integrating TransferMate's infrastructure into one of the world's largest banks
• Haas F1 TeamminorGTM or Marketing Partner · 23 May 2022Partnership for cross-border payments services with Formula 1 racing team, primarily a marketing and brand association partnership
• Wells FargoflagshipChannel Partner/ Reseller/ DistributorMajor banking partnership where Wells Fargo integrates TransferMate's cross-border payment infrastructure. Wells Fargo has stated 'the collaboration results in real value for Wells Fargo customers'
• INGmajorChannel Partner/ Reseller/ DistributorPartnership with ING for international payment services integration
• BarclaysmajorChannel Partner/ Reseller/ DistributorPartnership with Barclays for cross-border payment processing capabilities
• AIBmajorChannel Partner/ Reseller/ DistributorPartnership with Allied Irish Bank for international payment services
• CoupamajorTechnology or IntegrationIntegration with Coupa's procurement software platform for automated payment processing
• CloudPaymajorTechnology or IntegrationPartnership with CloudPay for global payroll payment processing capabilities
• SAP ConcurflagshipTechnology or IntegrationIntegration with SAP Concur for expense management and cross-border payment capabilities within SAP's enterprise ecosystem. SAP states 'We always tell our customers to consider TransferMate'
• Transact CampusmajorChannel Partner/ Reseller/ DistributorPartnership with Transact Campus for campus payment solutions. Transact states 'Collaborating with a leading fintech like TransferMate is a powerful demonstration of how partnership and collaborative design can result in real value for customers'. Queries dropped from 8,299 to 211 after implementation
• Vita StudentminorChannel Partner/ Reseller/ DistributorStudent housing payment collections partnership with 'frictionless journey for students across the world'
• apartments (aparto)minorChannel Partner/ Reseller/ DistributorPartnership since 2018 providing easy payment solutions for international students

Scale indicators11 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• PingPong: Cross-border B2B payments platform focused on SMBs and marketplaces with multi-currency accounts and FX. Comparable to TransferMate on the B2B cross-border payments and FX-margin-led business model.
• Airwallex: Direct B2B cross-border payments competitor offering multi-currency accounts, global payments, and embedded finance APIs across 100+ countries. Closest like-for-like peer to TransferMate in scale, target customer (SMEs and mid-market), and API-first bank-embed strategy.
• Currencycloud (Visa): Visa-owned cross-border payments platform providing API-based FX and multi-currency accounts to banks and fintechs. Directly comparable as a white-label/embedded cross-border rail powering bank and platform integrations, similar to TransferMate's bank partnership model.
• OFX: Specialist cross-border payments and FX provider serving SMEs and enterprise with international payments and FX risk management. Comparable to TransferMate on B2B cross-border, multi-currency, and FX forwards offerings, though more direct sales-led.
• Veem: B2B cross-border payments network with multi-currency wallets and accounting/ERP integrations. Direct peer to TransferMate in cross-border B2B and ERP-embedded payments for SMBs and mid-market.
• WorldFirst (Ant Group): Ant Group-owned cross-border payments platform serving SMEs and platforms with multi-currency accounts and FX. Direct competitor in B2B cross-border corridors, particularly for marketplace and e-commerce sellers.
• Wise: Publicly listed cross-border payments company serving both consumers and businesses (Wise Business) with multi-currency accounts and mid-market FX pricing. Competes directly with TransferMate in B2B cross-border corridors and is a key reference point on FX margin economics.

Broad incumbents

• Stripe: Global payments platform with cross-border payouts, multi-currency accounts (Stripe Treasury, Connect), and FX for platforms. Comparable to TransferMate on embedded B2B payments and platform integrations, though Stripe is significantly broader in scope.
• Adyen: Global payments incumbent offering acquiring, processing, and cross-border capabilities to large enterprises via unified API. Overlaps with TransferMate on multi-currency, enterprise API, and global settlement, though Adyen is broader (card-acquiring-led).

Emerging players

• Hyperwallet (PayPal): PayPal-owned mass payouts platform for marketplaces, gig platforms, and global payroll. Comparable to TransferMate's global payroll and B2B2C payout use cases (CloudPay, Cadana), though owned by a much larger incumbent.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/transfermate
• Facebookfacebook.com/transfermate
• LinkedInlinkedin.com/company/transfermate

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about TransferMate Global Payments