Lopay
Lopay is a UK-founded, mobile-first payment processing platform that offers low-cost, contract-free card acceptance, Tap to Pay, POS software, and an Expense & Rewards card to small businesses, sole proprietors, and mobile service providers in the UK and US.
- Company typePrivate
- Founded2022
- HeadquartersLondon, United Kingdom
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Lopay does
Lopay is a UK-founded, mobile-first payment processing platform that targets small businesses, sole proprietors, and mobile service providers with low-cost, contract-free card acceptance. Founded in 2022 by Richard Carter, the company offers three payment acceptance modalities — Tap to Pay (software-only on iOS and Android), the WisePad 3 Bluetooth card reader, and a touchscreen Business Terminal — alongside a bundled Point of Sale system with inventory, team management, loyalty, appointments, and QuickBooks integration. A proprietary Expense & Rewards Visa commercial credit card, issued via Stripe and Celtic Bank, provides merchants with instant access to funds and converts card spend into fee-free processing credits.
The platform is powered by Stripe (Connect for payment processing, Issuing for the Lopay Card, and identity verification) with TrueLayer providing PCI DSS-aligned tokenization. Lopay operates tiered take-rate pricing beginning at 1.99% + $0.10 per transaction on the Essential account, scaling up to 2.95% + $0.10 for instant 24/7 bank payouts, with a Cash Discounting model at 3.49%. The company is PCI DSS Level 1 and GLBA compliant, and serves merchants through self-serve onboarding via its iOS and Android apps and a UK/US web presence.
Commercially, Lopay generates revenue primarily from per-transaction processing fees, supplemented by hardware sales (card readers at $35–$49 and the Business Terminal at $299) and ancillary fees for Tap to Pay and Payment Links. Backed by approximately $7.4 million in seed funding (October 2023) from Portage Ventures, BACKED VC, Kinled Holding, Redbus Ventures, and The Venture Collective, the company has processed nearly 10 million customer payments cumulatively and expanded operations from the UK into the United States in 2024 through a Delaware-incorporated entity.
Lopay firmographics
Firmographics- Name
- Lopay
- Legal name
- Lopay Ltd. (UK) / Lopay Corp. (US)
- Website
- https://lopay.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Lopay is a UK-founded, mobile-first payment processing platform that offers low-cost, contract-free card acceptance, Tap to Pay, POS software, and an Expense & Rewards card to small businesses, sole proprietors, and mobile service providers in the UK and US.
- Ownership category
- akta.pro rank
Lopay industry classification
Industry- Product category
- Mobile Payment Processing
- NAICS
- Credit Card Issuing (522210)
- akta.pro primary industry
- Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)
Keywords
Where Lopay is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices2 records
Markets served
Lopay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Supply Chain, Infrastructure
Revenue model
- Transaction Processing Fees: Lopay charges a percentage plus fixed fee on each transaction processed. The Essential account charges 1.99% + $0.10 per transaction, Standard charges 2.45% + $0.10, and Instant to Bank charges 2.95% + $0.10. Additional fees apply for premium cards (American Express, international, corporate cards).
- Hardware Sales: Lopay sells card readers and business terminals. The WisePad 3 card reader costs $35 + P&P for the first reader ordered through the app, or $49 via online store for subsequent readers. Business Terminal costs $299 one-off + shipping.
- Tap to Pay Fee: An additional $0.05 per transaction for using the Tap to Pay feature.
- Subscription Links and Payment Links: Additional fee of 0.49% per transaction for Payment Links and Subscription Links.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Essential Account - 1.99% + $0.10 per transaction with weekly payouts every Thursday |
| Transaction based/ take rate | Pay-as-you-go | Standard Account - 2.45% + $0.10 per transaction with flexible daily/weekly/monthly payouts |
| Transaction based/ take rate | Pay-as-you-go | Instant to Bank Account - 2.95% + $0.10 per transaction with instant 24/7 payouts |
| Transaction based/ take rate | Pay-as-you-go | Cash Discounting - 3.49% per transaction |
| Transaction based/ take rate | Pay-as-you-go | Tap to Pay - +$0.05 per transaction |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels7 records
Lopay product offering
Product offeringCore offering
Lopay is a mobile payment processing platform for small businesses and sole proprietors that enables in-person card acceptance via Tap to Pay (smartphone), Bluetooth card readers (WisePad 3), and a Business Terminal, paired with a free Point-of-Sale app and an Expense & Rewards Visa commercial card. Merchants pay transaction-based fees starting at 1.99% + $0.10 with no monthly fees, no contracts, and flexible payout schedules including instant 24/7 settlement, while the rewards card offsets future processing fees based on spend.
Product overview
Lopay is a payment app and POS system for small businesses offering multiple hardware and software products. The core offering includes three payment acceptance methods: Tap to Pay (smartphone-based software), the Lopay Card Reader (WisePad 3 Bluetooth hardware), and the Business Terminal (touchscreen countertop device). These integrate with a full Point of Sale system providing inventory management, team management, customer loyalty, and appointment booking features. The platform includes a proprietary Expense & Rewards Card (Visa commercial credit card powered by Stripe/Celtic Bank) that provides instant access to funds and earns fee-free processing credits on spend. Financial services include Capital on Tap and Cash Advance partnerships. The service operates on tiered pricing models (Essential at 1.99%, Standard at 2.45%, Instant to Bank at 2.95%, plus Cash Discounting at 3.49%) with flexible payout schedules. Lopay is partnered with Stripe as its payment processor and TrueLayer for tokenization services, with QuickBooks integration for accounting. The platform supports Apple Pay and Google Pay digital wallets and is PCI DSS compliant.
Differentiator
Problem solved
Functional benefit
Brands
- Lopay Expense & Rewards Card: A debit card that provides instant access to earnings and rewards that reduce transaction fees
- Lopay Business Terminal
- Tap to Pay
- Lopay Point of Sale
Products and services
- Tap to Pay Software feature that converts a merchant's iOS or Android smartphone into a contactless card reader, enabling in-person Tap to Pay acceptance without any additional hardware. Sold to small businesses and sole proprietors needing to take quick card payments on the go.
- Lopay Card Reader (WisePad 3) A compact Bluetooth card reader device (WisePad 3) sold by Lopay that supports chip and PIN, contactless, and swipe payments for merchants who need portable hardware.
- Business Terminal A WiFi-enabled touchscreen countertop payment and POS terminal sold by Lopay for retail and fixed-premise environments that need a fuller in-store checkout experience.
- Lopay Point of Sale (POS) A free point-of-sale software application included with every Lopay account that provides inventory management, customizable receipts, and smart tipping features for merchants.
- Expense & Rewards Card A Visa commercial credit card issued in partnership with Stripe/Celtic Bank that gives Lopay merchants instant access to their earned funds and earns fee-free processing credits on card spend, available digitally in Apple Wallet or as a physical card.
Companies that use Lopay
Customer profileSegments5 records
Ideal customer profiles1 record
Lopay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature4 records
Lopay partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- StripecoreStripe is Lopay's core technology partner providing the underlying payment processing infrastructure, e-money issuance for the Lopay Card, card reader hardware, and identity verification services. Lopay's services are powered by Stripe's Connect platform, and the Lopay Visa Card is issued by Stripe (Celtic Bank in the US, Stripe Payments UK Limited in the UK). The partnership is essential to Lopay's entire product offering.
- Apple PaycoreApple Pay integration allows Lopay merchants to accept contactless payments from customers using Apple devices. This is part of Lopay's digital wallet support alongside Google Pay.
- Google PaycoreGoogle Pay integration allows Lopay merchants to accept contactless payments from customers using Android devices. This is part of Lopay's digital wallet support alongside Apple Pay.
- Celtic BankcoreCeltic Bank is the issuing bank for the Lopay Visa Commercial Credit Card in the United States, partnering with Stripe for card issuance and program management.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
Lopay competitors and assessment
Company assessmentDirect peers
- SumUp: London-headquartered global SMB payment processor offering card readers, Tap to Pay on smartphone, and POS solutions targeting sole traders and small businesses — the closest direct competitor to Lopay.
- Dojo: UK-based SMB payment processor offering card readers and integrated POS systems for independent businesses, hospitality, and services — directly comparable to Lopay's target segments and product.
- Zettle (PayPal): PayPal-owned SMB payments and POS provider operating across Europe with hardware card readers and POS software — comparable to Lopay on product offering and target customer profile.
Broad incumbents
- Square (Block): Block-owned SMB payments, POS, banking, and software ecosystem; broader portfolio (Square Banking, payroll, marketing) but overlapping core payments and hardware offerings with Lopay.
- Stripe Terminal: Stripe's in-person payments product offering card readers and Tap to Pay; both a critical infrastructure partner to Lopay and a competing SMB acquiring solution from the same underlying rails.
- Worldpay: Large global merchant acquirer and payment processor with SMB offerings in the UK; provides broader acquiring infrastructure and software solutions against which Lopay competes for larger SMB accounts.
Regional players
- Tide: UK-focused SMB business banking and financial services platform with payment acceptance features; competes for the same UK small business wallet share as Lopay.
- Starling Bank: UK challenger bank offering business current accounts with integrated payment acceptance; comparable as a UK SMB financial services alternative, though primarily banking-led.
Emerging players
- Revolut Business: Global fintech with expanding SMB payments and merchant acquiring products targeting small businesses; increasingly overlaps with Lopay on SMB payment acceptance in the UK and EU.
Others
- Visa: Network and card issuer partner for Lopay's Expense & Rewards Visa commercial card; an enabling infrastructure participant rather than a direct competitor, but its commercial card economics directly shape Lopay's reward offering.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Lopay social profiles
Digital presenceLopay compliance and trust
Trust signalCompliance2 records
Lopay financial estimates
Financial estimateRevenue estimate
Valuation estimate
Lopay leadership team
Management profileNumber of profiles
Profiles1 record
Lopay funding detail
Funding detailFunding overview
Funding rounds1 record
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Lopay 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 Lopay
What does Lopay do?
Lopay is a mobile payment processing platform for small businesses and sole proprietors that enables in-person card acceptance via Tap to Pay (smartphone), Bluetooth card readers (WisePad 3), and a Business Terminal, paired with a free Point-of-Sale app and an Expense & Rewards Visa commercial card. Merchants pay transaction-based fees starting at 1.99% + $0.10 with no monthly fees, no contracts, and flexible payout schedules including instant 24/7 settlement, while the rewards card offsets future processing fees based on spend.
Is Lopay a public or private company?
Lopay is a private company. It is classified as venture growth investor backed and is currently operating.
When was Lopay founded?
Lopay was founded in 2022. It employs 101 to 250 people.
Where is Lopay based?
Lopay is headquartered in London, United Kingdom, in the Europe region.
How does Lopay make money?
Four revenue lines are on record. Transaction Processing Fees are the primary driver. The others are hardware Sales, tap to Pay Fee and subscription Links and Payment Links.
Who are Lopay's main competitors?
Direct peers on record are SumUp, Dojo and Zettle (PayPal). Broad incumbents are Square (Block), Stripe Terminal and Worldpay. Regional players are Tide and Starling Bank. Revolut Business is listed as an emerging player. Visa is listed as an others.
Does Lopay have an API?
No public API is recorded for Lopay.
What industry is Lopay in?
Lopay's product category is Mobile Payment Processing. Its primary akta.pro industry code is FSAGABAE, Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure. Its NAICS code is 522210.