CityPay.io
CityPay.io is a Georgian-licensed crypto payment gateway enabling merchants and consumers to transact in cryptocurrency with automatic fiat conversion, serving 700+ businesses and expanding across Eastern Europe and Central Asia.
- Company typePrivate
- Founded2020
- HeadquartersTbilisi, Georgia
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What CityPay.io does
CityPay.io is a Georgian-licensed cryptocurrency payment gateway founded in 2020 in Tbilisi, operating as CityPay Georgia LLC (identification number 402132312) under registration with the National Bank of Georgia. The company's core product is a merchant payment gateway that enables online and physical retailers to accept cryptocurrency from customers with automatic conversion into fiat currency, distributed via developer API (developer.citypay.io), a WordPress/WooCommerce plugin, POS terminals and QR codes, and a B2B email-based invoice service for cross-border settlements. Its technology stack supports Bitcoin Lightning Network integration for near-instant settlement and is paired with a consumer-facing crypto wallet (individuals.citypay.io) launched in November 2024 for retail send/receive/exchange.
CityPay.io generates revenue primarily through a 1% transaction fee on crypto payments processed, materially undercutting traditional card payment fees of 2-7%. It serves three distinct segments: online and physical retail businesses (700+ merchant partners as of August 2023), B2B companies conducting international settlements, and individual cryptocurrency holders via the consumer wallet. Distribution is hybrid — self-serve for SMBs through the WordPress plugin and merchant dashboard, plus enterprise field sales and channel partnerships with major crypto exchanges Binance Pay and Gate Pay that expose CityPay merchants to tens of millions of crypto holders globally.
The company has raised approximately €2.6 million in disclosed funding to date, anchored by Tether Operations Limited across multiple rounds (2023 seed co-led with Presto Ventures and a 2024 follow-on), alongside a 2021 round conducted entirely in cryptocurrency and a Czech StartupYard grant. Backed by Tether's strategic capital and aligned to the USDT stablecoin ecosystem, CityPay.io is executing a stated expansion plan to scale to 400,000+ users and 500,000 crypto payment points across Georgia, Armenia, Azerbaijan, Kazakhstan, and Uzbekistan, with regulatory and banking partnerships (e.g., Octobank in Uzbekistan) supporting the rollout. Leadership comprises co-founder and President Eralp Hatipoglu, co-founder and COO Beka Kemertelidze, with a small executive team including a Chief Product Officer and Chief Marketing Officer.
CityPay.io firmographics
Firmographics- Name
- CityPay.io
- Legal name
- შპს სითი ფეისაქართველო
- Website
- https://citypay.io
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- CityPay.io is a Georgian-licensed crypto payment gateway enabling merchants and consumers to transact in cryptocurrency with automatic fiat conversion, serving 700+ businesses and expanding across Eastern Europe and Central Asia.
- Ownership category
- akta.pro rank
CityPay.io industry classification
Industry- Product category
- Cryptocurrency Payment Processing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)
- akta.pro primary industry
- Crypto Payment Gateways & Checkout APIs (FSADAIAA)
- akta.pro secondary industries
- POS, QR & In-Person Acceptance Infrastructure (Crypto) (FSADAIAI), Crypto Merchant Acquirers & PSPs (Payment Service Providers) (FSADAIAB), On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks (FSADAIAE), B2B Crypto Payouts, Mass Payments & Treasury Disbursements (FSADAIAF), Invoice, Billing & Subscription Payments (Crypto) (FSADAIAG), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)
Keywords
Where CityPay.io is headquartered
LocationHeadquarters
- HQ city
- Tbilisi
- HQ country
- Georgia
- HQ region
- Asia
Offices1 record
Markets served
CityPay.io business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Transaction Fees: CityPay.io charges a 1% transaction fee on crypto payments processed through its platform. This is significantly lower than traditional payment methods (2-4% for local, 5-7% for international transactions). The fee can be absorbed by the merchant or passed to the customer.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | 1% transaction fee per crypto payment |
Go-to-market motion2 records
Distribution channels6 records
Marketing channels5 records
CityPay.io product offering
Product offeringCore offering
CityPay.io provides a cryptocurrency payment gateway enabling businesses to accept digital asset payments online, in physical stores, and across international B2B settlements, with automatic conversion to national currencies. The company also offers a consumer digital wallet (individuals.citypay.io) for individuals to send, receive, and exchange cryptocurrency assets. It operates as a regulated crypto OTC and payment service provider registered with the National Bank of Georgia.
Differentiator
Problem solved
Functional benefit
Products and services
- Cryptocurrency Payment Gateway Core merchant-facing payment gateway enabling businesses to accept cryptocurrency payments online and in physical stores. Merchants receive crypto assets directly from customers without intermediary platforms and benefit from automatic conversion to national currencies. The system supports POS terminals and QR code scanning for in-store payments.
- Merchant Payment API A developer-facing API that enables businesses to integrate CityPay.io's cryptocurrency payment system into their websites or applications. The API provides endpoints for creating orders, managing deposits, retrieving order status, and receiving payment callbacks. Authentication uses access tokens with IP whitelisting. Includes a sandbox testing environment at test.citypay.io.
- CityPay.io Consumer Wallet A digital wallet for individuals to manage cryptocurrency assets, allowing users to send, receive, and exchange crypto assets quickly and securely. The wallet supports multiple cryptocurrencies and is designed for both individuals and businesses to manage digital assets in daily life. Available on Google Play.
- B2B Crypto Payments (Email Order) An email-based invoice and payment solution for B2B crypto transactions, allowing businesses to send invoices with cryptocurrency QR codes to other businesses for international settlements. CityPay.io converts received crypto to national currency and transfers funds to the merchant's bank account.
Quantifiable outcome
- 1% transaction fee vs 5-7% for traditional international payment methods
- +3 more outcomes
Companies that use CityPay.io
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
CityPay.io technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature6 records
CityPay.io partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered minor and core.
- BitnetminorJoint marketing campaign with Bitnet to promote cryptocurrency adoption among consumers, encouraging users to befriend cryptocurrency.
- OctobankcoreCityPay.io and Octobank signed a memorandum of understanding to develop a high-tech, crypto-adaptive ecosystem in Uzbekistan. The partnership aims to expand crypto payment infrastructure in the Uzbekistan market.
- Blockchain LifeminorPartnership with Blockchain Life conference and event series to promote crypto adoption and CityPay.io solutions at industry events.
- iTechnics (Apple Reseller)minoriTechnics, Apple's official reseller in Georgia, participates in CityPay.io's Crypto Month campaign offering discounts on Apple products to customers paying with cryptocurrency.
- MegatechnicaminorElectronics retailer Megatechnica offers gifts to customers paying with cryptocurrency for large purchases like TVs and appliances during promotional campaigns.
- Gate Pay / Gate.iocoreStrategic partnership with Gate Pay, the crypto payment service by global CEX Gate.io (serving 13+ million users). The partnership bridges millions of Gate.io users with merchants across Georgia and CIS region, covering daily activities like hotel booking, supermarket shopping, and restaurant billing.
- Binance PaycoreCityPay.io partnered with Binance Pay, enabling its merchants to accept payments from Binance's millions of users worldwide. This partnership revolutionizes cryptocurrency transactions by offering users more payment options and helping businesses accept digital payments.
Scale indicators6 records
Recent moves7 records
Expansion highlights5 records
CityPay.io competitors and assessment
Company assessmentBroad incumbents
- BitPay: BitPay is the largest crypto payment processor globally, offering merchant checkout, invoicing, and fiat settlement across many countries. It competes directly with CityPay.io's core merchant gateway business but operates at a much larger scale and with broader geographic coverage.
- Coinbase Commerce: Coinbase Commerce lets merchants accept multiple cryptocurrencies with fiat conversion, similar to CityPay.io's gateway. Backed by the Coinbase exchange, it has stronger brand recognition and developer tooling, overlapping with CityPay.io's API and e-commerce integrations.
Direct peers
- NOWPayments: NOWPayments is a crypto payment gateway offering merchant APIs, plugins, POS, and mass payouts with very low fees and broad coin support. It is the closest head-to-head competitor to CityPay.io across merchant gateway, invoicing, and B2B payouts.
- CoinGate: CoinGate provides crypto payment processing for merchants and individuals with POS support, plugin integrations, and fiat off-ramps. Its product scope (gateway + POS + consumer wallet) mirrors CityPay.io's stack, making it a direct comparable for benchmarking.
- CoinsPaid: CoinsPaid is a crypto payment processor and wallet provider focused on merchant acceptance, B2B payouts, and fiat conversion. It targets similar SMB and enterprise merchants as CityPay.io and overlaps on invoicing, gateway, and white-label wallet products.
- Alchemy Pay: Alchemy Pay provides fiat and crypto on/off-ramp and payment solutions to merchants globally, including POS and online checkout. It overlaps with CityPay.io across merchant acceptance, fiat conversion, and emerging-market corridors, making it a useful comparable for cross-border ramp economics.
Emerging players
- BTCPay Server: BTCPay Server is an open-source, self-hosted Bitcoin and Lightning payment processor popular with privacy-focused and Lightning-native merchants. It competes with CityPay.io's gateway and Lightning offering, particularly for technical SMBs that prefer a no-fee self-hosted alternative.
- Cryptomus: Cryptomus is a crypto payment processor supporting merchant checkout, subscriptions, mass payouts, and invoicing across many chains. It overlaps with CityPay.io's API, invoice, and B2B payout use cases and is a comparable emerging peer in the broader crypto PSP category.
- 0xProcessing: 0xProcessing is a crypto payment gateway offering merchant processing with fiat settlement, white-label solutions, and wallet-as-a-service. It targets a similar SMB and enterprise merchant profile as CityPay.io and competes on multi-chain coverage and white-label flexibility.
Regional players
- Triple-A: Triple-A is a Singapore-headquartered licensed crypto payment processor offering merchant acceptance and fiat off-ramps across Southeast Asia and beyond. While not focused on CIS, it is a comparable regulated crypto PSP for cross-border commerce in emerging markets adjacent to CityPay.io's footprint.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights7 records
Customer concentration
CityPay.io social profiles
Digital presenceCityPay.io compliance and trust
Trust signalCompliance3 records
CityPay.io financial estimates
Financial estimateRevenue estimate
Valuation estimate
CityPay.io leadership team
Management profileNumber of profiles
Profiles5 records
CityPay.io funding detail
Funding detailFunding overview
Funding rounds6 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CityPay.io 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 CityPay.io
What does CityPay.io do?
CityPay.io provides a cryptocurrency payment gateway enabling businesses to accept digital asset payments online, in physical stores, and across international B2B settlements, with automatic conversion to national currencies. The company also offers a consumer digital wallet (individuals.citypay.io) for individuals to send, receive, and exchange cryptocurrency assets. It operates as a regulated crypto OTC and payment service provider registered with the National Bank of Georgia.
Is CityPay.io a public or private company?
CityPay.io is a private company. It is classified as venture growth investor backed and is currently operating.
When was CityPay.io founded?
CityPay.io was founded in 2020. It employs 11 to 50 people.
Where is CityPay.io based?
CityPay.io is headquartered in Tbilisi, Georgia, in the Asia region.
How does CityPay.io make money?
One revenue line is on record: transaction Fees.
Who are CityPay.io's main competitors?
Broad incumbents on record are BitPay and Coinbase Commerce. Direct peers are NOWPayments, CoinGate, CoinsPaid and Alchemy Pay. Emerging players are BTCPay Server, Cryptomus and 0xProcessing. Triple-A is listed as a regional player.
Does CityPay.io have an API?
Yes. CityPay.io provides a Merchant Payment Gateway API for businesses to integrate cryptocurrency payment acceptance into their websites and applications. The API supports the following endpoints: Create Order (generates payment URLs for customers), Get Order information (lists all orders or finds specific orders), Create Deposit (generates deposit URLs), Get Payments information (sends transaction data), Get IP Addresses (whitelisting), and Order Status. It also offers an Order API for embedding in merchant UI (Log in, Generate Order, Choose crypto, Get Order, Update order rates, Get Order History). Authentication uses access tokens created from the customer dashboard with IP whitelisting. Rate limits: 500 orders per hour per userid; 200 requests per minute and 10,000 per hour per IP address for public endpoints; 200 per minute and 1,000 per hour per API App for private endpoints. A sandbox testing environment is available at test.citypay.io. Developer documentation is at developer.citypay.io.
What industry is CityPay.io in?
CityPay.io's product category is Cryptocurrency Payment Processing. Its primary akta.pro industry code is FSADAIAA, Crypto Payment Gateways & Checkout APIs, with a secondary code of FSADAIAI, POS, QR & In-Person Acceptance Infrastructure (Crypto). Its NAICS code is 52232 and its SIC code is 6200.