BayaniPay
BayaniPay is a US-based cross-border fintech founded in 2021 that provides zero-fee remittance and embedded banking services to Filipino Americans sending money to the Philippines, operating through BDO, East West Bank, and Seafood City partnerships.
- Company typePrivate
- Founded2021
- HeadquartersEl Segundo, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingSoftware
What BayaniPay does
BayaniPay is a US-based cross-border fintech founded in July 2021 that provides zero-fee remittance and embedded banking services primarily to the 4.2 million Filipino Americans in the United States who send money to family in the Philippines. The platform operates as an authorized agent of BDO Remit (USA), Inc., routing outbound transfers through a Philippine payout network that includes 1,400+ BDO branches, 4,400+ BDO ATMs, and 8,000+ BDO Cash Agad outlets (including rural sari-sari stores, hardware stores, and gas stations). On the US side, the company partners with East West Bank (a $61B-asset FDIC-insured institution) to deliver the Easy Digital Checking Account, Visa Debit Card, and Zelle integration under the BayaniPay Wallet brand. Additional payment infrastructure is provided by Dwolla (ACH Pull Direct Debit) and Plaid (bank linking), with money transmitter licenses active in California, Hawaii, New Jersey, Alaska, and the US Virgin Islands.
The product portfolio spans consumer remittance, zero-fee bills pay to Philippine institutions, B2B cross-border vendor payments, and a recently launched real estate amortization service for Filipinos in the US paying Philippine property developers (initially SM Development Corporation / SMDC, with Ortigas Land added in 2023). A planned subscription product, BayaniPay Prime, is in development. Distribution is hybrid: a self-serve mobile-first web application for end users, plus a flagship retail partnership with Seafood City (32 North American supermarket locations) and event sponsorships (e.g., the Ogie Alcasid concert tour) for community-led acquisition.
The business model is primarily a foreign-exchange margin model: customer-facing transactions are zero-fee, with revenue captured on the spread between interbank and offered USD-PHP rates. Secondary revenue flows come from East West Bank's banking services (account, debit card interchange), B2B payment processing fees from developer and merchant partners, and planned subscription revenue from BayaniPay Prime. Go-to-market mixes product-led growth (self-serve digital onboarding) with community-led engagement through Filipino cultural anchors and a direct enterprise sales motion for B2B real estate partnerships. The company has raised $9.6M in cumulative seed funding across three rounds (November 2022, September 2023, June 2024) from Wavemaker Partners, PTGB Partners, Talino Fintech Foundry, East West Bank, Mora Financial, and Republic, and targets $200M in payment volume in 2024 — roughly 10x the prior year.
BayaniPay firmographics
Firmographics- Name
- BayaniPay
- Legal name
- Bayani Pay, Inc.
- Website
- https://bayanipay.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- BayaniPay is a US-based cross-border fintech founded in 2021 that provides zero-fee remittance and embedded banking services to Filipino Americans sending money to the Philippines, operating through BDO, East West Bank, and Seafood City partnerships.
- Ownership category
- akta.pro rank
BayaniPay industry classification
Industry- Product category
- Cross-Border Payments & Remittance
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Consumer Remittances (P2P) (FSAMAIAA)
- akta.pro secondary industries
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Digital Payments & Money Movement (ACH/SEPA/FPS, Bill Pay, P2P) (FSAGAAAF), SME & Business Cross-Border Payments (B2B) (FSAMAIAB)
Keywords
Where BayaniPay is headquartered
LocationHeadquarters
- HQ city
- El Segundo
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
BayaniPay business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Foreign Exchange Margin on Remittances: BayaniPay earns revenue through the spread between the interbank exchange rate and the rate offered to customers. While transaction fees are zero, the company captures value through favorable forex margins.
- Digital Banking Services: Revenue from banking products provided through East West Bank partnership including the Easy Digital Checking Account and Visa Debit Card. East West Bank generates revenue from account services and card transactions.
- Real Estate Payment Processing: B2B payment processing for Philippine real estate developers enabling US-based customers to pay property amortizations. Revenue generated through transaction volume and forex margins.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Standard Remittance - Zero Fee |
| Subscription | Monthly | Easy Digital Checking Account |
| Freemium | Pay-as-you-go | Buena Mano First Transfer Promotion |
| Transaction based/ take rate | Pay-as-you-go | Real Estate Payment Service |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels9 records
BayaniPay product offering
Product offeringCore offering
BayaniPay operates a mobile-first cross-border payments and digital banking platform enabling Filipino Americans to send money to the Philippines with zero transaction fees and market-leading forex rates. The platform supports consumer remittance, bills payment, B2B cross-border payments, real estate amortization payments, and an FDIC-insured Easy Digital Checking Account powered by East West Bank. Funds are disbursed through BDO Unibank's Philippine network covering 1,400+ branches, 4,400+ ATMs, and 8,000+ Cash Agad outlets.
Product overview
BayaniPay is a cross-border fintech platform offering a suite of digital financial services focused on remittance, bills payment, and banking for the Filipino American community. The core product portfolio includes: (1) Remittance Service for zero-fee money transfers from the US to the Philippines with market-leading exchange rates; (2) Bills Pay for zero-fee payments to Philippine institutions including utilities and property amortizations; (3) B2B Payments for business-to-business cross-border vendor payments; (4) BayaniPay Wallet with integrated FDIC-insured Easy Digital Checking Account (powered by East West Bank) and Visa Debit Card; and (5) the promotional Buena Mano Exchange Rate for first-time remitters. The platform operates through partnerships with BDO Remit (USA), Inc. for money transmission and East West Bank for banking products, with processing licensed in California, Hawaii, New Jersey, US Virgin Islands, and Alaska.
Differentiator
Problem solved
Functional benefit
Products and services
- Remittance Service (Send Money to the Philippines) Zero-fee remittance service enabling users in California, Hawaii, New Jersey, and Alaska to send money to the Philippines with market-leading forex rates via ACH Pull Direct Debit from linked US bank accounts, with funds typically credited within 24 hours.
- Bills Pay Zero-fee payment service enabling direct payments for bills and services in the Philippines, including utility bills, amortizations, and other recurring payments.
- B2B Payments Global business-to-business payment service enabling efficient payments to vendors and suppliers overseas with a custom dashboard for merchants to collect, automate, and reconcile payments.
- Easy Digital Checking Account FDIC-insured digital checking account powered by East West Bank offering Visa Debit Card, Zelle P2P integration, and faster remittances to the Philippines. No minimum deposit or monthly balance requirements.
- BayaniPay Wallet Digital wallet that integrates the FDIC-insured Easy Digital Checking Account, Visa Debit Card, unlimited fee-free transfers to the Philippines, and fund management features in a single app.
- Real Estate Cross-Border Payment Service B2B service enabling US-based Filipinos to pay property amortizations to Philippine real estate developers (SMDC, Ortigas Land) with zero transaction fees, monthly auto-debit, and a custom merchant dashboard for reconciliation.
Quantifiable outcome
- Tenfold increase in payment processing target: from $20 million to $200 million in 2024
- +4 more outcomes
Companies that use BayaniPay
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
BayaniPay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature6 records
BayaniPay partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered major, flagship, core and supporting.
- Ortigas LandmajorPhilippine real estate developer partnership for cross-border property payment collection. Part of BayaniPay's expansion into the P1 trillion Philippine property market.
- SM Development Corporation (SMDC)flagshipPartnership to enable Filipinos in the US to invest and acquire homes in the Philippines through zero-fee cross-border real estate payment service. SMDC is the Philippines' largest and fastest growing real estate developer. BayaniPay provides monthly auto-debit and custom merchant dashboard.
- BDO UnibankcorePhilippine remittance partner and largest bank in the Philippines. Remittances can be claimed at 1,400+ BDO branches, 4,400+ ATMs, and 8,000+ BDO Cash Agad outlets nationwide including rural areas.
- Seafood CityflagshipLeading Filipino supermarket chain in North America with 32 locations. Joint marketing, in-store promotions, and co-branded loyalty programs. Seafood City serves as anchor to Filipino communities, often alongside immigration offices.
- The Asian JournalcoreLeading Asian American multimedia publisher and co-founder of BayaniPay. Partnership provides media channels and community reach within Filipino American demographic.
- BDO Remit (USA), Inc.coreBayaniPay is an authorized agent of BDO Remit (USA), Inc. with money transmitter licenses in California (#1627), Hawaii (#012), New Jersey (#L065184), US Virgin Islands (#MT-03-13), and Alaska (#AK-MT-10014).
- DwollacorePayment processor for ACH Pull Direct Debit functionality. Users must open a Dwolla Platform account to use BayaniPay's payment functionality.
- Palawan PawnshopsupportingCash pickup partner for remittance delivery in the Philippines. PHP 50,000 per transaction limit.
- Villarica PawnshopsupportingCash pickup partner for remittance delivery in the Philippines. PHP 200,000 per transaction limit.
- RD PawnshopsupportingCash pickup partner for remittance delivery in the Philippines. PHP 50,000 per transaction limit.
- Bank of the Philippine Islands (BPI)supportingPartner bank for direct fund transfers to recipients in the Philippines.
- Philippine National Bank (PNB)supportingPartner bank for direct fund transfers to recipients in the Philippines.
- Rizal Commercial Banking Corporation (RCBC)supportingPartner bank for direct fund transfers to recipients in the Philippines.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
BayaniPay competitors and assessment
Company assessmentDirect peers
- Remitly: Digital remittance company serving the US-Philippines corridor (and many others) with mobile-first transfers. Direct competitor to BayaniPay's core consumer remittance product, with significantly broader US state coverage and substantially more capital raised.
- Wise (TransferWise): Global cross-border payments platform with mid-market exchange rates and low fees. Competes with BayaniPay on US-Philippines transfers and on the multi-currency account/wallet functionality embedded in the BayaniPay Wallet.
- Taptap Send: Mobile-first remittance app focused on corridors to the Philippines, Mexico, India, and other emerging markets. Directly competes with BayaniPay on zero/low-fee USD-to-PHP transfers targeting diaspora senders.
- WorldRemit: Digital cross-border money transfer platform serving 130+ countries, including a strong Philippines corridor. Directly comparable to BayaniPay on mobile-first remittance and digital wallet functionality.
- Payoneer: Cross-border payments platform with strong B2B and freelancer/marketplace payouts focus. Comparable to BayaniPay's emerging B2B payments and real estate cross-border payment services for SMBs and professionals.
Broad incumbents
- MoneyGram: Established global remittance incumbent with extensive agent network including in the Philippines. Offers both digital and cash-pickup services across the US-Philippines corridor, competing with BayaniPay on breadth rather than niche.
- Western Union: Largest legacy remittance company globally with massive agent network and brand recognition. Competes with BayaniPay in the US-Philippines corridor across digital and retail channels, with substantially broader geographic reach.
- Xoom (PayPal): PayPal-owned digital remittance service serving 160+ countries including the Philippines. Directly competes with BayaniPay on US-to-Philippines transfers, with stronger brand, larger marketing budget, and PayPal ecosystem integration.
Emerging players
- Felix Pay: Emerging digital remittance platform focused on the US-Philippines corridor. Direct niche competitor to BayaniPay, also targeting Filipino Americans with mobile-first zero-fee or low-fee remittance services.
- Sendwave: Mobile remittance app (owned by WorldRemit/Zepz) serving corridors to the Philippines, Africa, and South Asia. Comparable to BayaniPay's mobile-first diaspora remittance model, though primarily focused on African corridors.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
BayaniPay social profiles
Digital presenceBayaniPay compliance and trust
Trust signalCompliance2 records
BayaniPay financial estimates
Financial estimateRevenue estimate
Valuation estimate
BayaniPay leadership team
Management profileNumber of profiles
Profiles2 records
BayaniPay funding detail
Funding detailFunding overview
Funding rounds3 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BayaniPay 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 BayaniPay
What does BayaniPay do?
BayaniPay operates a mobile-first cross-border payments and digital banking platform enabling Filipino Americans to send money to the Philippines with zero transaction fees and market-leading forex rates. The platform supports consumer remittance, bills payment, B2B cross-border payments, real estate amortization payments, and an FDIC-insured Easy Digital Checking Account powered by East West Bank. Funds are disbursed through BDO Unibank's Philippine network covering 1,400+ branches, 4,400+ ATMs, and 8,000+ Cash Agad outlets.
Is BayaniPay a public or private company?
BayaniPay is a private company. It is classified as venture growth investor backed and is currently operating.
When was BayaniPay founded?
BayaniPay was founded in 2021. It employs 51 to 100 people.
Where is BayaniPay based?
BayaniPay is headquartered in El Segundo, United States, in the North America region.
How does BayaniPay make money?
Three revenue lines are on record. Foreign Exchange Margin on Remittances are the primary driver. The others are digital Banking Services and real Estate Payment Processing.
Who are BayaniPay's main competitors?
Direct peers on record are Remitly, Wise (TransferWise), Taptap Send, WorldRemit and Payoneer. Broad incumbents are MoneyGram, Western Union and Xoom (PayPal). Emerging players are Felix Pay and Sendwave.
Does BayaniPay have an API?
No public API is recorded for BayaniPay.
What industry is BayaniPay in?
BayaniPay's product category is Cross-Border Payments & Remittance. Its primary akta.pro industry code is FSAMAIAA, Consumer Remittances (P2P), with a secondary code of FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services. Its NAICS code is 522320 and its SIC code is 6199.