KPay
KPay is a Hong Kong-based fintech providing integrated payment, POS, and finance solutions to over 95,000 SMB merchants across Hong Kong, Singapore, Japan, and Australia, generating revenue through transaction fees, subscriptions, and revenue-based financing.
- Company typePrivate
- Founded2021
- HeadquartersKwun Tong, Hong Kong SAR China
- Headcount501–1,000
- GTM typeB2B
- OfferingSoftware
What KPay does
KPay is a Hong Kong-headquartered fintech providing integrated payment and financial management infrastructure for small and medium-sized merchants across Asia-Pacific. The platform consolidates four core product surfaces — In-Person Payments, Online Payments, Finance, and Point of Sale — supported by add-on modules including the Android-based Terminal Pro hardware, Tap to Pay on iPhone, Static QR, Payment Links, WhatsApp Pay, a Payment Gateway with REST APIs and iOS/Android/Web SDKs, the multi-currency KPay Business Account (17 regions, 18 currencies, T+1 settlement), and KFund revenue-based financing. Underlying technology includes NFC contactless capability, 5G/Wi-Fi connectivity, built-in thermal printing, PCI DSS / PCI PIN / ISO 27001 / SOC 1-2 security certifications, and AI-driven AML and fraud monitoring delivered through a Flagright partnership.
The company generates revenue primarily through transaction-based take rates (e.g., 2.98% in Japan; rebates up to 0.1% in Hong Kong; one-time setup plus transaction rates in Singapore), supplemented by recurring SaaS subscriptions (Payment Gateway Pro from USD 29/month; KPay POS in Japan from ¥9,980/month), hardware and setup fees, FX/transfer margins from the Business Account, and interest income from KFund. Distribution is a hybrid of self-serve merchant onboarding via web and mobile app (5–10 minute application, approval within ~one week, device delivery in as fast as 3 days in Japan), dedicated enterprise sales consultants, financial-institution co-distribution (DBS Hong Kong), and embedded developer channels.
KPay serves over 95,000 merchants and has processed 260M+ group transactions across four markets (Hong Kong, Singapore, Japan, Australia), with primary customer concentration in F&B, retail, beauty, and service SMBs. Backed by USD 65M in total funding — including a USD 55M Series A in December 2024 led by Apis Partners, described as the largest Series A in the global payments sector that year — KPay targets one million merchants within five years across planned new markets including Indonesia, the Philippines, Malaysia, and Thailand.
KPay firmographics
Firmographics- Name
- KPay
- Legal name
- KPay Merchant Service Limited
- Website
- https://kpay-group.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- KPay is a Hong Kong-based fintech providing integrated payment, POS, and finance solutions to over 95,000 SMB merchants across Hong Kong, Singapore, Japan, and Australia, generating revenue through transaction fees, subscriptions, and revenue-based financing.
- Ownership category
- akta.pro rank
KPay industry classification
Industry- Product category
- Merchant Payment Processing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Sales Financing (52222), Other Nondepository Credit Intermediation (52229)
- SIC
- Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Integrated POS Payments (ISVs & Vertical POS Platforms) (FSAMADAD)
- akta.pro secondary industries
- Integrated Payment Processors (PSP/Acquirer) (FSAMABAA), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), POS Payment Software & Middleware (Terminal OS, Apps, Device Management) (FSAMADAC)
Keywords
Where KPay is headquartered
LocationHeadquarters
- HQ city
- Kwun Tong
- HQ country
- Hong Kong SAR China
- HQ region
- Asia
Offices4 records
Markets served
KPay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Transaction / Processing Fees: KPay charges merchants a percentage fee on each payment processed. In Japan, the transaction fee is 2.98%. In Hong Kong, transaction processing fees apply with rebates up to 0.1%. This is the primary revenue stream, generated on every card, QR code, digital wallet, and contactless payment processed through KPay terminals or online payment tools.
- Subscription / SaaS Fees: KPay generates recurring subscription revenue from SaaS products including Payment Gateway Pro (from $29/month for subscription billing plans) and KPay POS in Japan (from ¥9,980/month). These tiers offer additional features and capacity beyond basic transaction processing.
- Business Account & Financing Services: KPay Business Account (KBA) provides multi-currency account management and transfers, generating revenue through transfer fees and foreign exchange margins. KFund (revenue-based financing) provides working capital to merchants with flexible repayments, creating interest/fee income tied to financing volume.
- POS Hardware & Terminal Sales: While KPay promotes zero terminal cost in some markets (Japan: ¥0 terminal cost, monthly fee, and bank transfer fee), there may be hardware costs or setup fees in other regions. Singapore mentions a one-time setup fee for Terminal Pro.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Japan: Zero cost terminal, 2.98% transaction fee |
| Transaction based/ take rate | Pay-as-you-go | Singapore: One-time setup fee + transaction rates |
| Transaction based/ take rate | Monthly | Hong Kong: $0 annual fee, everyday settlement, up to 0.1% rebates |
| Subscription | Monthly | Payment Gateway Pro: $29/month subscription + per-transaction fees |
| Subscription | Monthly | Japan KPay POS: From ¥9,980/month |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels10 records
KPay product offering
Product offeringCore offering
KPay provides an integrated merchant payments platform for small and medium-sized businesses, combining in-person payment acceptance (Android-based Terminal Pro, Tap to Pay on iPhone, QR codes), online payment gateway and Payment Link, a multi-currency business account, a POS system with inventory and analytics, and revenue-based financing (KFund). Its products support more than 20 payment methods across Hong Kong, Singapore, Japan, and Australia, and are designed to replace fragmented POS, gateway, and banking stacks for SMEs in retail, F&B, and beauty services.
Product overview
KPay is an integrated payments platform offering a unified suite of products for merchants across 4 regions (Australia, Hong Kong, Japan, Singapore). The platform architecture consists of core products (In-Person Payments, Online Payments, Finance, Point of Sale) supported by add-on modules (Terminal Pro, Tap to Pay, Payment Gateway, Payment Link, WhatsApp Pay, KPay Business Account, KFund, POS, Marketplace). The flagship KPay Terminal Pro serves as the primary hardware product, while the software stack includes payment processing APIs/SDKs, business account management, revenue-based financing, and POS systems. The products work together as an ecosystem: Terminal Pro and POS handle physical transactions; Payment Gateway, Payment Link, and WhatsApp Pay manage online/remote payments; KPay Business Account and KFund provide financial management and funding. The platform serves over 95,000 merchants with 260M+ transactions processed.
Differentiator
Problem solved
Functional benefit
Products and services
- Terminal Pro (Smart POS Terminal) Android-based Smart POS terminal for SMEs that accepts cards, NFC/contactless wallets, and QR payments, with built-in receipt printing and POS application support.
- Tap to Pay on iPhone Software-based contactless payment acceptance on iPhone (XS and newer), allowing merchants to accept payments using just an iPhone without extra hardware.
- Static QR Code Merchant-presented static QR code payment acceptance for SME storefronts, supporting a broad set of consumer wallets and FPS.
- Online Payment Gateway API/SDK-based online payment gateway enabling merchants and platforms to accept card and local payment methods on websites and in apps.
- Payment Link No-code online payment link that lets merchants send a payment URL to customers for remote card and wallet payments.
- WhatsApp Pay Payment acceptance over WhatsApp, letting merchants collect payment from customers inside WhatsApp conversations.
- KPay Business Account Multi-currency merchant banking account with same-day settlement and real-time FX, bundled with KPay's payment acceptance products for SMEs.
- KFund (Revenue-Based Financing) Revenue-based financing product that provides working capital advances to KPay merchants, with repayment tied to a percentage of daily card sales.
- KPay POS Cloud-based POS system with multi-location inventory auto-replenishment, sales analytics, and integrations to KPay's payments stack and ecosystem partners.
Quantifiable outcome
- 2.2x payment flexibility improvement for retail merchants (Nail it! Tokyo case study)
- +6 more outcomes
Companies that use KPay
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles2 records
KPay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability2 records
Feature14 records
KPay partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core.
- MastercardcoreMastercard is described as KPay's strategic partner for the Tap to Pay on iPhone initiative in Hong Kong. Mastercard voiced support for the initiative aimed at advancing digital inclusion for SMEs in Hong Kong. As a global payment network, Mastercard's certification and support validates KPay's contactless payment capabilities.
- Global PaymentscoreGlobal Payments and KPay jointly launched the 'Tap to Pay on iPhone' service in Hong Kong, enabling merchants to accept contactless payments using compatible iPhones. Global Payments is one of the four initial payment platforms (alongside Adyen, KPay, and SoéPay) certified by Apple for Tap to Pay on iPhone in Hong Kong.
- ApplecoreApple selected KPay as one of four initial launch partners for Tap to Pay on iPhone in Hong Kong, alongside Adyen, Global Payments, and SoéPay. KPay merchants with iPhone 11 or later can now accept contactless credit/debit cards, Apple Pay, and digital wallets using only their iPhone and the KPay iOS app.
- DBS Hong KongcoreKPay partnered with DBS Hong Kong to enhance the DBS MAX Merchant Solutions ecosystem with a new collection management solution supporting 29 collection methods including major mobile wallets in Hong Kong. The partnership targets SMEs with digital collection capabilities and is backed by survey data showing rapid adoption of digital payment methods among local SMEs.
- FlagrightcoreKPay partnered with Flagright to enhance its transaction monitoring and anti-money laundering (AML) compliance using Flagright's AI-driven solutions. The partnership enables real-time transaction risk assessment, streamlines fraud and compliance investigations, and tightens financial crime controls across KPay's entire platform.
- JCBcoreKPay Japan supports JCB card payments through its terminals, expanding accepted card brands to 6 (Visa, Mastercard, JCB, UnionPay, Diners Club, Discover). JCB is a major Japanese credit card brand, and this partnership is essential for serving Japanese merchants and tourists.
- DGFT (Digital Garage Financial Technology)coreKPay Japan partnered with DGFT to implement DGFT's Cloud Pay on KPay terminals, enabling QR code payment services nationwide in Japan. This partnership supports 9 QR code platforms (PayPay, Rakuten Pay, d-barai, au Pay, mer Pay, Aeon Pay, WeChat Pay, Alipay, J-Coin Pay), making KPay's terminals relevant for both local Japanese consumers and Chinese tourists.
Scale indicators10 records
Recent moves10 records
Expansion highlights6 records
KPay competitors and assessment
Company assessmentBroad incumbents
- Stripe: Global payments infrastructure giant offering payment gateway, Tap to Pay, POS, and embedded finance APIs. Comparable as a direct competitor in KPay's Payment Gateway and online payments products, though Stripe operates at much larger scale and serves enterprise rather than focusing primarily on APAC SMEs.
- Adyen: Global enterprise-grade payment processor with Tap to Pay on iPhone certification and POS capabilities. Adyen is co-competitor in Hong Kong Tap to Pay launch and a broad incumbent serving enterprise and SMB merchants across APAC and globally; less specialized in micro/SME segment than KPay.
Direct peers
- SumUp: European-founded POS and payment acceptance provider targeting micro-merchants and SMEs globally. Comparable as a direct peer in integrated POS hardware, payment processing, and merchant onboarding for small businesses — SumUp's product set (terminal, Tap to Pay, payment gateway, business account) mirrors KPay's.
- Block (Square): Square, the SME payments and POS business of Block, offers integrated card readers, POS software, Tap to Pay, business loans, and banking. Highly comparable to KPay across the full stack — payments, POS, financing, and business account — though Square has stronger US/Europe presence while KPay focuses on APAC.
- Airwallex: APAC-headquartered cross-border payments and business account platform serving SMEs with multi-currency accounts, FX, and payment acceptance. Direct comparable to KPay Business Account and cross-border settlement value proposition, though Airwallex is more online/e-commerce-focused while KPay is more in-person/POS-focused.
- Pine Labs: Asia-headquartered POS and integrated payments provider for retail and enterprise merchants, with strong India/Southeast Asia footprint. Comparable as a peer in POS hardware, integrated payments, and merchant financing, though Pine Labs focuses more on enterprise/chain retail than KPay's micro-SME segment.
- Toast: US-based all-in-one POS and payments platform purpose-built for F&B/restaurant merchants. Comparable in KPay's KPay POS vertical specialization for F&B (OKLM Cafe, Deer Alley case studies), integrated ordering, payment processing, and financing, though Toast operates primarily in North America.
Peers
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
KPay social profiles
Digital presenceKPay compliance and trust
Trust signalCompliance5 records
KPay financial estimates
Financial estimateRevenue estimate
Valuation estimate
KPay leadership team
Management profileNumber of profiles
Profiles5 records
KPay funding detail
Funding detailFunding overview
Funding rounds3 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
KPay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about KPay
What does KPay do?
KPay provides an integrated merchant payments platform for small and medium-sized businesses, combining in-person payment acceptance (Android-based Terminal Pro, Tap to Pay on iPhone, QR codes), online payment gateway and Payment Link, a multi-currency business account, a POS system with inventory and analytics, and revenue-based financing (KFund). Its products support more than 20 payment methods across Hong Kong, Singapore, Japan, and Australia, and are designed to replace fragmented POS, gateway, and banking stacks for SMEs in retail, F&B, and beauty services.
Is KPay a public or private company?
KPay is a private company. It is classified as venture growth investor backed and is currently operating.
When was KPay founded?
KPay was founded in 2021. It employs 501 to 1,000 people.
Where is KPay based?
KPay is headquartered in Kwun Tong, Hong Kong SAR China, in the Asia region.
How does KPay make money?
Four revenue lines are on record. Transaction / Processing Fees are the primary driver. The others are subscription / SaaS Fees, business Account & Financing Services and POS Hardware & Terminal Sales.
Who are KPay's main competitors?
Broad incumbents on record are Stripe and Adyen. Direct peers are SumUp, Block (Square), Airwallex, Pine Labs and Toast. PayPay (Z Holdings / SoftBank) is listed as a peer.
Does KPay have an API?
Yes. KPay offers APIs for payment integration with full control over payment processing. Supports 3 integration modes: Full API control (REST API with payment_intent JSON structure), SDK integration (iOS SDK, Android SDK, Web SDK with TypeScript), and hosted checkout redirect. The API enables custom payment flows, subscription billing management, and supports various payment methods including credit cards and digital wallets. Developer documentation is at go.kpay-group.com/hk/en/online-payments/payment-gateway.
What industry is KPay in?
KPay's product category is Merchant Payment Processing. Its primary akta.pro industry code is FSAMADAD, Integrated POS Payments (ISVs & Vertical POS Platforms), with a secondary code of FSAMABAA, Integrated Payment Processors (PSP/Acquirer). Its NAICS code is 522320 and its SIC code is 6153.