BlockChyp
BlockChyp is a private Utah-based payments company that builds a developer-centric, semi-integrated payment gateway and terminal platform with proprietary triple encryption and blockchain-derived gift card technology, serving POS software developers and multi-location merchants, and acquired by Stax Payments in October 2024.
- Company typePrivate
- Founded2018
- HeadquartersProvo, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What BlockChyp does
BlockChyp, Inc. is a private payment processing company founded in 2018 and headquartered in Lindon, Utah. It builds a semi-integrated payments platform that connects payment terminals directly to its gateway and the card networks, keeping merchant and point-of-sale (POS) software out of PCI and Level 3 EMV certification scope. The company is registered as an Independent Sales Organization (ISO) of Westamerica Bank. BlockChyp's platform supports credit and debit cards across seven networks (Visa, MasterCard, American Express, Discover, Diners Club, JCB, and UnionPay), EBT/SNAP benefits, gift card programs, and cryptocurrency (Bitcoin) acceptance. The core engineering differentiators are a triple encryption scheme, a blockchain-derived gift card system using elliptic curve public keys rather than shared-secret card numbers, and a clock-chain tick block system that produces tamper-evident transaction timestamps.
The company sells primarily through an API-first, developer-centric go-to-market motion, providing REST APIs and SDKs across 10 programming languages (Go, .NET/C#, Java, JavaScript/TypeScript, PHP, Python, Ruby, Swift/Objective-C, and Rust), distributed via GitHub and standard package managers. Developer access was historically invitation-only and supported through test terminals and developer kits. End customers are POS software developers, multi-location merchants, and retail/restaurant operators who need centralized terminal management, branded terminals, in-person surveys, signature/contract capture, and tokenized recurring payments. Pricing is not publicly disclosed and appears to be merchant-specific, with revenue generated from transaction fees, cash-discount and surcharge programs, and terminal/hardware sales.
On October 2, 2024, BlockChyp was acquired by Stax Payments, converting the company from an independent ISO into a subsidiary distributed through Stax's merchant channel. The company has disclosed approximately $3.85M in cumulative funding across four rounds between 2018 and 2022 and reports 11–50 employees. Jonathan Decker is listed as CEO. No revenue, processing volume, or valuation figures are publicly disclosed.
BlockChyp firmographics
Firmographics- Name
- BlockChyp
- Legal name
- BlockChyp, Inc.
- Website
- https://blockchyp.com
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- BlockChyp is a private Utah-based payments company that builds a developer-centric, semi-integrated payment gateway and terminal platform with proprietary triple encryption and blockchain-derived gift card technology, serving POS software developers and multi-location merchants, and acquired by Stax Payments in October 2024.
- Ownership category
- akta.pro rank
BlockChyp industry classification
Industry- Product category
- Payment Processing Software
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
- akta.pro secondary industry
- Crypto Payment Gateways & Checkout APIs (FSADAIAA)
Keywords
Where BlockChyp is headquartered
LocationHeadquarters
- HQ city
- Provo
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
BlockChyp business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Payment Processing Services: BlockChyp generates revenue through payment processing services for merchants, including credit/debit card processing, EBT transactions, gift card activations, and cryptocurrency payments. The platform supports multiple payment types including Visa, MasterCard, American Express, Discover, Diners Club, JCB, UnionPay, and Bitcoin.
- Terminal and Hardware Services: BlockChyp provides payment terminals with features including branding/logo display, line item display, customer interaction prompts, and survey capabilities. Revenue may be generated through terminal provisioning and related services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | One-time | Developer Kit |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
BlockChyp product offering
Product offeringCore offering
BlockChyp provides a semi-integrated payment processing platform with REST APIs and SDKs that enable point-of-sale software developers and merchants to accept card-present and e-commerce payments while keeping POS systems out of PCI scope. The platform supports multiple payment types including credit and debit cards (Visa, MasterCard, American Express, Discover, Diners Club, JCB, UnionPay), EBT, blockchain-derived gift cards, and cryptocurrency, secured by a proprietary triple encryption system.
Product overview
BlockChyp is an integrated payments platform offering a semi-integrated payment terminal system with multiple supporting API products. The core product is the semi-integrated payment system for processing credit/debit cards and EBT payments. The platform includes a blockchain-based gift card system, e-commerce and tokenization capabilities, and a suite of management APIs including Terminal Management, Customer Management, Token Management, and Survey Management APIs. The modular architecture allows merchants to implement various combinations of these products based on their specific payment processing needs.
Differentiator
Problem solved
Functional benefit
Products and services
- BlockChyp Semi-Integrated Payment System
Quantifiable outcome
- Reduced PCI scope through semi-integrated architecture - POS code never touches sensitive payment data
- +2 more outcomes
Companies that use BlockChyp
Customer profileSegments3 records
Ideal customer profiles3 records
BlockChyp technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
BlockChyp partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Stax PaymentscoreBlockChyp was acquired by Stax Payments on October 2, 2024. The acquisition creates a strategic partnership where BlockChyp's integrated payments technology and developer-focused platform becomes part of the Stax Payments ecosystem. The news section references 'Click to Learn More' linking to Stax Payments blog announcement about the acquisition.
Scale indicators2 records
Recent moves5 records
Expansion highlights5 records
BlockChyp competitors and assessment
Company assessmentDirect peers
- CardFlight: Developer-focused payment solutions provider offering mobile POS SDKs and gateway services to ISVs. Comparable product scope (semi-integrated / mobile payment SDKs) and target market (software developers building POS and merchant solutions).
- Payment Depot: Membership-based payment processor offering wholesale interchange-plus pricing to SMB merchants. Overlaps with BlockChyp's transaction-fee revenue model and SMB/ISV target customer base.
- PayJunction: Payment gateway and processor with no-long-term-contract pricing, developer APIs, and a focus on SMB and mid-market merchants. Comparable in customer segment and in offering semi-integrated payment infrastructure.
- Finix: Payments infrastructure provider targeting ISVs and platforms that want to embed payment processing into their software. Directly comparable to BlockChyp's developer-first, API-centric GTM targeting POS software developers and integrators.
- Stax Payments: Parent company and acquirer of BlockChyp as of October 2024. Stax is a subscription-based payment processor targeting SMBs and ISVs, with overlapping developer-friendly APIs and a similar focus on multi-location merchant management. Highly comparable on product philosophy and customer segment.
- Helcim: Direct competitor in the SMB and ISV payment gateway space, offering interchange-plus pricing, virtual terminal, recurring billing, and developer APIs. Comparable on customer segment (small/mid-market merchants and software partners) and core payment processing capabilities.
Broad incumbents
- Adyen: Global payment platform offering unified online, in-store, and platform payment processing. While focused on enterprise and large platforms rather than BlockChyp's SMB segment, Adyen represents the broader incumbent set in unified commerce payment infrastructure.
- Stripe: Dominant developer-first payment platform with extensive APIs, multi-method support, and global reach. Far larger and broader than BlockChyp, but competes for the same developer-led, API-centric POS and platform integrations.
- Block (Square): Large incumbent offering Square payment processing, hardware terminals, and developer APIs for POS integrations. Competes with BlockChyp in the SMB merchant and POS developer market, with substantially greater scale and resources.
Emerging players
- Highnote: Modern embedded payments platform providing card issuance, payment acceptance, and ledger infrastructure via APIs. Comparable API-first architecture and developer-centric GTM, though focused more on card issuing than BlockChyp's POS payment gateway focus.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
BlockChyp social profiles
Digital presenceBlockChyp compliance and trust
Trust signalCompliance2 records
BlockChyp financial estimates
Financial estimateRevenue estimate
Valuation estimate
BlockChyp leadership team
Management profileNumber of profiles
Profiles1 record
BlockChyp funding detail
Funding detailFunding overview
Funding rounds4 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
BlockChyp 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 BlockChyp
What does BlockChyp do?
BlockChyp provides a semi-integrated payment processing platform with REST APIs and SDKs that enable point-of-sale software developers and merchants to accept card-present and e-commerce payments while keeping POS systems out of PCI scope. The platform supports multiple payment types including credit and debit cards (Visa, MasterCard, American Express, Discover, Diners Club, JCB, UnionPay), EBT, blockchain-derived gift cards, and cryptocurrency, secured by a proprietary triple encryption system.
Is BlockChyp a public or private company?
BlockChyp is a private company. It is classified as corporate owned and is currently operating.
When was BlockChyp founded?
BlockChyp was founded in 2018. It employs 11 to 50 people.
Where is BlockChyp based?
BlockChyp is headquartered in Provo, United States, in the North America region.
How does BlockChyp make money?
Two revenue lines are on record. Payment Processing Services are the primary driver. The others are terminal and Hardware Services.
Who are BlockChyp's main competitors?
Direct peers on record are CardFlight, Payment Depot, PayJunction, Finix, Stax Payments and Helcim. Broad incumbents are Adyen, Stripe and Block (Square). Highnote is listed as an emerging player.
Does BlockChyp have an API?
Yes. BlockChyp offers a REST API for semi-integrated payment terminal systems. The API enables developers to build payment processing into their applications, supporting credit/debit card transactions, EBT processing, gift cards, e-commerce, tokenization, terminal management, and customer management. SDKs are available in Go, .NET/C#, JavaScript, TypeScript, Java, PHP, Python, Ruby, Swift, and Rust. Developer documentation is at docs.blockchyp.com.
What industry is BlockChyp in?
BlockChyp's product category is Payment Processing Software. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of FSADAIAA, Crypto Payment Gateways & Checkout APIs. Its NAICS code is 52232 and its SIC code is 6199.