TransferMate Global Payments
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.
- Company typePrivate
- Founded2012
- HeadquartersKilkenny, Ireland
- Headcount251–500
- GTM typeB2B
- OfferingSoftware
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.
TransferMate Global Payments firmographics
Firmographics- 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
TransferMate Global Payments industry classification
Industry- 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
Where TransferMate Global Payments is headquartered
LocationHeadquarters
- HQ city
- Kilkenny
- HQ country
- Ireland
- HQ region
- Europe
Offices3 records
Markets served
TransferMate Global Payments business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales
Revenue model
- 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.
- 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.
- 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
- Education Payments: Processing international student tuition and housing payments for educational institutions, with partnerships including 2,000+ partnered institutions
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | No B2B payment fees - companies save $60 per transaction on average |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels5 records
TransferMate Global Payments product offering
Product offeringCore 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
Companies that use TransferMate Global Payments
Customer profileNamed customers15 records
Segments6 records
Ideal customer profiles5 records
TransferMate Global Payments technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
Feature6 records
TransferMate Global Payments partnerships and signals
Strategic signalPartnerships
18 partnerships are on record, tiered strategic, minor, flagship and major.
- BVNKstrategicIntegration 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
- CadanastrategicPartnership to expand TransferMate's global payroll capabilities with statutory compliance infrastructure through Cadana's platform
- CerdivominorTransferMate named exclusive payroll payments partner of Cerdivo to accelerate global payroll infrastructure for Oracle customers
- Zone & CostrategicZone & 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
- SAPflagshipTransferMate 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 GroupflagshipStrategic 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 BankflagshipPartnership with Deutsche Bank to facilitate business cross-border payments, integrating TransferMate's infrastructure into one of the world's largest banks
- Haas F1 TeamminorPartnership for cross-border payments services with Formula 1 racing team, primarily a marketing and brand association partnership
- Wells FargoflagshipMajor 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'
- INGmajorPartnership with ING for international payment services integration
- BarclaysmajorPartnership with Barclays for cross-border payment processing capabilities
- AIBmajorPartnership with Allied Irish Bank for international payment services
- CoupamajorIntegration with Coupa's procurement software platform for automated payment processing
- CloudPaymajorPartnership with CloudPay for global payroll payment processing capabilities
- SAP ConcurflagshipIntegration 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 CampusmajorPartnership 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 StudentminorStudent housing payment collections partnership with 'frictionless journey for students across the world'
- apartments (aparto)minorPartnership since 2018 providing easy payment solutions for international students
Scale indicators11 records
Recent moves9 records
Expansion highlights6 records
TransferMate Global Payments competitors and assessment
Company assessmentDirect 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
TransferMate Global Payments social profiles
Digital presenceTransferMate Global Payments compliance and trust
Trust signalCompliance4 records
TransferMate Global Payments financial estimates
Financial estimateRevenue estimate
Valuation estimate
TransferMate Global Payments leadership team
Management profileNumber of profiles
Profiles3 records
TransferMate Global Payments funding detail
Funding detailFunding overview
Funding rounds3 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
TransferMate Global Payments M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about TransferMate Global Payments
What does TransferMate Global Payments do?
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.
Is TransferMate Global Payments a public or private company?
TransferMate Global Payments is a private company. It is classified as corporate owned and is currently operating.
When was TransferMate Global Payments founded?
TransferMate Global Payments was founded in 2012. It employs 251 to 500 people.
Where is TransferMate Global Payments based?
TransferMate Global Payments is headquartered in Kilkenny, Ireland, in the Europe region.
How does TransferMate Global Payments make money?
Four revenue lines are on record. B2B Cross-Border Payments are the primary driver. The others are FX Margin Revenue, API/Platform Licensing and education Payments.
Who are TransferMate Global Payments's main competitors?
Direct peers on record are PingPong, Airwallex, Currencycloud (Visa), OFX, Veem, WorldFirst (Ant Group) and Wise. Broad incumbents are Stripe and Adyen. Hyperwallet (PayPal) is listed as an emerging player.
Does TransferMate Global Payments have an API?
Yes. TransferMate offers a REST API that accepts standard HTTP commands (GET and POST), returns JSON-encoded responses, and uses standard HTTP response codes. The Payments API enables companies to obtain and book payments with currency rates, authorize or cancel payments, add payer and payee beneficiary bank accounts, and get updated payment status for payments or accounting software integration. Authentication uses OAuth2 framework. The API includes pre-defined domain-specific endpoints for banks and beneficiaries. Sandbox access is available for partner testing. Documentation is available at developer.transfermate.com and docs.transfermate.com. Developer documentation is at docs.transfermate.com.
What industry is TransferMate Global Payments in?
TransferMate Global Payments's product category is Cross-Border B2B Payment Infrastructure. Its primary akta.pro industry code is FSAMAIAB, SME & Business Cross-Border Payments (B2B), with a secondary code of FSAMAIAF, Cross-Border A2A & Bank Transfer Networks. Its NAICS code is 522320 and its SIC code is 6159.