ConnexPay
ConnexPay is a B2B payments platform that unifies payment acceptance (PayIns) and virtual card issuance (PayOuts) into a single system for travel intermediaries, advertising agencies, insurance brokers, and embedded-payments providers, processing over $10 billion in annual volume.
- Company typePrivate
- Founded2017
- HeadquartersAlpharetta, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What ConnexPay does
ConnexPay is a B2B payments platform, founded in 2017 and headquartered in Plano, Texas, that unifies payment acceptance (PayIns) and supplier payment issuance (PayOuts) into a single system for businesses that act as intermediaries between customers and suppliers. Its primary customer segments are leisure and business travel agencies, online advertising and performance marketing agencies, insurance brokers and claims processors, and embedded-payments platforms (ticketing, loyalty, commerce). The company operates as a registered ISO/MSP of multiple issuing banks in the U.S., Canada, the U.K., and Europe, and issues cards across more than 40 products spanning Visa, Mastercard, UATP, and proprietary closed-loop networks.
The core technology is the patented Intelligent PayOuts (IPO) decisioning engine, granted as U.S. Patent No. 12,118,519 in November 2024, which analyzes over 20 variables per transaction to select optimal card brand, type, and Bank Identification Number to maximize supplier acceptance and rebate economics. The platform issues an average of 81,000+ virtual cards per day at roughly 722 milliseconds per issuance and processes over $10 billion in annual transaction volume across 175+ countries. The platform exposes unified APIs with sandbox environments, webhook-based real-time event notifications, and mobile-wallet support, and it is distributed through direct enterprise sales, API self-serve, and white-label / OEM channels.
ConnexPay monetizes through interchange-plus pricing on acquiring, revenue-share and interchange-based fees on virtual card issuing, card rebates earned on supplier payments, and interest income from an Integrated Credit facility priced off SOFR. Go-to-market combines enterprise field sales in North America and EMEA, an API-first self-serve motion for developers, and event-driven demand generation at industry conferences (GBTA, World Ticket Conference, Affiliate World, Business Travel Show). The company has raised over $145 million across disclosed funding rounds (Series A 2020, Series B led by Marqeta in 2021, Series C led by FTV Capital in October 2022), counts FTV Capital, F-Prime Capital, BIP Ventures, and Marqeta among its institutional investors, and reported profitability at the time of the Series C while sustaining 70% year-over-year revenue growth thereafter.
ConnexPay firmographics
Firmographics- Name
- ConnexPay
- Legal name
- ConnexPay LLC
- Website
- https://connexpay.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- ConnexPay is a B2B payments platform that unifies payment acceptance (PayIns) and virtual card issuance (PayOuts) into a single system for travel intermediaries, advertising agencies, insurance brokers, and embedded-payments providers, processing over $10 billion in annual volume.
- Ownership category
- akta.pro rank
ConnexPay industry classification
Industry- Product category
- B2B Payments Platform
- NAICS
- Credit Card Issuing (522210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Sales Financing (52222)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)
- akta.pro secondary industries
- Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), BNPL Card / Virtual Card Programs (FSAKACAC), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)
Keywords
Where ConnexPay is headquartered
LocationHeadquarters
- HQ city
- Alpharetta
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
ConnexPay 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 Fees - Acquiring (PayIns): Interchange plus pricing for payment acceptance transactions. Fees charged on customer sales processed through the platform.
- Transaction Fees - Issuing (PayOuts): Revenue share models and interchange-based fees for virtual card issuing services. Includes specialized pricing for Global VCC and UATP cards.
- Card Rebates: Rebates earned on supplier payments through virtual card programs. Rebates automatically applied to account balance, processed monthly and included in monthly invoice.
- Integrated Credit Facility: Competitive financing rates based on SOFR benchmark plus customized markup for businesses issuing virtual cards against credit lines. Automated interest based on principal used.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Custom enterprise pricing based on volume and service mix |
| Transaction based/ take rate | Monthly | Global Travel VCC - No FX fees for travel payments |
| Usage-based | Pay-as-you-go | Flex Card - Variable rate virtual card |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
ConnexPay product offering
Product offeringCore offering
ConnexPay operates a unified B2B payments platform that combines PayIns (customer payment acceptance) and PayOuts (supplier payment issuance) into a single system. The platform enables businesses to accept customer payments via cards, ACH, and digital wallets, then immediately issue virtual cards to pay suppliers, eliminating the cash flow gap between customer receipts and supplier payments. It serves travel agencies, online advertising platforms, insurance brokers, and embedded payment providers with API-based integration and multi-currency support.
Product overview
ConnexPay is a unified B2B payments platform that combines PayIns (customer payment acceptance) and PayOuts (supplier payment issuance) into a single system. The platform consists of the core ConnexPay Unified Payments Platform as the foundation, with PayIn modules including Customer Sales (Acquiring), Self-Funding, and Integrated Credit for funding account balances. PayOut modules include Virtual Card Issuing (supporting 40+ card products via Visa, Mastercard, UATP, and closed-loop), Classic Payment Methods (ACH, bank transfers, physical cards), Disbursements, Payee Enablement, and Payment Delivery. Specialized products include Intelligent PayOuts (patented decisioning engine), ConnexPay Flex (variable-rate virtual card), and Global Travel VCC. The company also offers Payment Valet as a managed services solution. Industry-specific solutions serve leisure travel, business travel, advertising, insurance, and embedded payments verticals.
Differentiator
Problem solved
Functional benefit
Brands
- Intelligent PayOuts (IPO): ConnexPay's patented decisioning engine that systematically determines which cards should be accepted and what virtual cards should be issued to maximize acceptance and rebates
- Payment Valet
- ConnexPay Flex
- Global Travel VCC
Products and services
- ConnexPay Unified Payments Platform The core B2B payments platform that seamlessly combines PayIns (customer payment acceptance) and PayOuts (supplier payment issuance) into a single system, providing unified reconciliation. Processes over $10 billion annually across 175+ countries.
- Customer Sales (Acquiring) Payment acceptance module enabling businesses to accept customer payments globally through credit cards, digital wallets, ACH, and local payment methods with immediate settlement and AI-powered fraud protection.
- Self-Funding
- Integrated Credit Credit facility integrated with the platform, allowing qualified businesses to issue virtual cards against a credit line rather than using cash, expanding payment capacity without depleting working capital.
- Virtual Card Issuing
- Classic Payment Methods
- Disbursements
- Payee Enablement
- Payment Delivery
- Payment Valet Managed services solution extending the unified payments platform into payment delivery and payee management. Targets vertical SaaS platforms, fintechs, AR providers, and insurance companies with Payee Network Management, Payment Delivery Fulfillment, and Payee Care support services.
- Leisure Travel Solutions
- Business Travel Solutions
- Advertising Payments
- Insurance Payments
- Embedded Payments
Quantifiable outcome
- Instant access to customer sale proceeds for supplier payments (eliminating cash flow gap)
- +4 more outcomes
Companies that use ConnexPay
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles4 records
ConnexPay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature5 records
ConnexPay partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered flagship and core.
- Shift4flagshipStrategic partnership combining Shift4's top acquiring services with ConnexPay's all-in-one payments platform to deliver seamless PayIn and PayOut functions to businesses across OTA and Hospitality markets in Europe.
- Payouts NetworkcorePartnership to launch Push-to-Card technology, expanding payment modalities and offering customers flexibility. Push-to-Card enables near real-time payment delivery directly to recipient's debit card.
- UATPcoreUATP card network partnership offering extensive airline acceptance (400+ airlines) and low-cost acceptance at airlines and low-cost carriers. Cards accepted by over 400 airlines worldwide.
- Central Trust BankcoreUS card issuing bank, ConnexPay is registered ISO/MSP. Issues Visa and Mastercard in United States.
- MVB BankcoreUS card issuing bank, ConnexPay is registered ISO/MSP. Issues Visa and Mastercard in United States.
- Digital Commerce BankcoreCanadian card issuing bank pursuant to licenses by Visa International and Mastercard International.
- Monavate LimitedcoreUK and European card issuing bank pursuant to licenses from Mastercard International.
Scale indicators13 records
Recent moves8 records
Expansion highlights5 records
ConnexPay competitors and assessment
Company assessmentDirect peers
- Marqeta: Modern card issuing platform that led ConnexPay's $20M Series B in Dec 2021. Both offer API-first virtual card issuance for B2B and commerce use cases; Marqeta is the larger public-company competitor with broader issuing capabilities.
- Shift4: Integrated payments and acquiring platform that is both a strategic partner (European OTA/hospitality distribution) and a competitor. Shift4Pay provides end-to-end payment processing to the same hospitality and travel verticals ConnexPay targets.
- Conferma Pay: Virtual card payment network specializing in travel and corporate payments; direct partner of ConnexPay via integration. Overlap with ConnexPay's Global Travel VCC product for hotel and travel supplier payments.
- Payouts Network: Push-to-card and supplier payment technology partner of ConnexPay. Both target supplier/contractor disbursement via virtual cards and real-time push payments to debit cards.
Broad incumbents
- WEX: Public corporate-payments and fleet-card incumbent that acquired Noventis (ConnexPay President Blair Jeffery's prior company), Fleet One, and Payzer (ConnexPay CFO's prior company). Operates virtual card and B2B payment products overlapping with ConnexPay's core offerings.
- Galileo Financial Technologies (SoFi): Large-scale payments and card-issuing infrastructure owned by SoFi. Provides fintech infrastructure including issuing, processing, and BaaS — adjacent competitor for ConnexPay's card issuing and acquiring infrastructure customers.
- Comdata: Established corporate and fleet payments provider with virtual card issuing capabilities. Overlaps with ConnexPay in B2B supplier payments, expense management, and corporate disbursement verticals.
- Stripe Issuing: Card issuing product within Stripe's broader payments platform, enabling businesses to create and manage virtual and physical cards. Competes for the same embedded-payments and platform-driven virtual card workloads ConnexPay targets.
Emerging players
- Highnote: Modern embedded card-issuing platform targeting B2B and consumer use cases via API. Competes with ConnexPay on the issuing/embedded-payments axis with strong developer experience and similar fintech positioning.
- Lithic: API-first card issuing platform serving B2B and consumer fintechs. Overlaps with ConnexPay's virtual card issuing capabilities, particularly for embedded and platform customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
ConnexPay social profiles
Digital presenceConnexPay compliance and trust
Trust signalCompliance3 records
ConnexPay financial estimates
Financial estimateRevenue estimate
Valuation estimate
ConnexPay leadership team
Management profileNumber of profiles
Profiles14 records
ConnexPay funding detail
Funding detailFunding overview
Funding rounds7 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ConnexPay 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 ConnexPay
What does ConnexPay do?
ConnexPay operates a unified B2B payments platform that combines PayIns (customer payment acceptance) and PayOuts (supplier payment issuance) into a single system. The platform enables businesses to accept customer payments via cards, ACH, and digital wallets, then immediately issue virtual cards to pay suppliers, eliminating the cash flow gap between customer receipts and supplier payments. It serves travel agencies, online advertising platforms, insurance brokers, and embedded payment providers with API-based integration and multi-currency support.
Is ConnexPay a public or private company?
ConnexPay is a private company. It is classified as venture growth investor backed and is currently operating.
When was ConnexPay founded?
ConnexPay was founded in 2017. It employs 101 to 250 people.
Where is ConnexPay based?
ConnexPay is headquartered in Alpharetta, United States, in the North America region.
How does ConnexPay make money?
Four revenue lines are on record. Transaction Fees - Acquiring (PayIns) is the primary driver. The others are transaction Fees - Issuing (PayOuts), card Rebates and integrated Credit Facility.
Who are ConnexPay's main competitors?
Direct peers on record are Marqeta, Shift4, Conferma Pay and Payouts Network. Broad incumbents are WEX, Galileo Financial Technologies (SoFi), Comdata and Stripe Issuing. Emerging players are Highnote and Lithic.
Does ConnexPay have an API?
Yes. ConnexPay offers developer-friendly APIs that support both PayIn (acquiring) and PayOut (issuing) operations. The API enables real-time virtual card issuance with secure tokenization, webhook notifications for transaction events (purchases, sales, funding, authorizations, settlements), and programmatic access to all payment functions. Features include sandbox testing environments, comprehensive documentation, and implementation support. Mobile wallet support (Apple Pay, Google Pay) is included, and webhooks provide real-time notifications for payment status changes. Developer documentation is at www.connexpay.com/resources/developers.
What industry is ConnexPay in?
ConnexPay's product category is B2B Payments Platform. Its primary akta.pro industry code is FSAMABAA, Integrated Payment Processors (PSP/Acquirer), with a secondary code of FSAGABAE, Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure. Its NAICS code is 522210 and its SIC code is 6199.