Kwikpay

What Kwikpay does

Kwikpay, operated by Naico Limited (a privately held UK company headquartered in London), is a digital payment platform purpose-built for the unattended retail segment. It retrofits existing coin-operated machines — spanning amusement arcades and kiddie rides, vending, electric vehicle charging, and food and beverage — with cashless QR-code-based payments accessible via a mobile web interface (no app install required) plus native iOS and Android apps. Underlying the platform is a plug-and-play Smart IoT device that connects to existing machines over WiFi without dedicated SIM or hardware modification, alongside an operator dashboard for real-time cash telemetry, inventory, uptime, dynamic pricing, and loyalty/promotion tooling.

The platform supports payments through Apple Pay, Google Pay, and card networks (with Touch-/Face-ID), and auto-detects one of seven supported languages (English, Spanish, Portuguese, Italian, German, French, Dutch). Kwikpay monetizes through a combination of per-transaction processing fees, IoT hardware unit sales to operators, and recurring platform/subscription services tied to the operator dashboard and analytics. Its go-to-market is dual-track: a product-led, self-serve consumer experience for end users, paired with a quote-based enterprise sales motion targeted at multi-site operators across the UK, EU, US, Asia, and the Middle East.

Kwikpay presents itself as a first-mover in cashless payments for unattended retail, led by CEO and founder Neeraj Bhatia. The company is small (1-10 employees), privately held, and has raised only a single disclosed funding round of approximately $211,583 in January 2017 — there is no public record of subsequent institutional investment, ARR, or named enterprise customers.

Name

Kwikpay

Legal name

Naico Limited

Website

https://kwikpay.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Kwikpay is a UK-based digital payment platform that retrofits coin-operated machines in arcades, vending, EV charging, and F&B venues with cashless QR-code mobile payments and a plug-and-play IoT device, serving multi-site operators and end consumers.

Ownership category

akta.pro rank

Product category

Unattended Retail Cashless Payment Platform

NAICS

Amusement Arcades (71312), Vending Machine Operators (445132), Gambling Industries (7132)

SIC

Computer Peripheral Equipment, Nec (3577), Computer Communications Equipment (3576)

akta.pro industry

PRIMARYFSAGABAO

POS, SoftPOS & In-Person Acceptance Infrastructure

Financial & Insurance/Financial Technology (Fintech)/Payment Orchestration & Fintech Infrastructure (APIs, Issuing, Processing)

SECONDARYMPAEANAG

Kiosks & Self-Service Terminals (TITO, Loyalty, Cashless, Sportsbook Kiosks)

Media, Entertainment & Sports/Gambling, Betting & Casinos/Gaming Equipment, Manufacturing & Supplies (Tables, Chips, Terminals)

SECONDARYMPAEAKAH

Payments Orchestration, Wallets & Alternative Payments Enablement

Media, Entertainment & Sports/Gambling, Betting & Casinos/Gaming Technology, Platforms & Data (iGaming Platforms, Odds, Risk, KYC)

Keywords

• Cashless payment platform
• Unattended retail payments
• QR code mobile payments
• IoT vending solutions
• Coin-op machine retrofit

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Supply Chain, Operations, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Transaction Processing Fees: Kwikpay processes digital payments for coin-operated machines, earning a fee per transaction. The platform facilitates payments via Apple Pay, Google Pay, and cards.
2. IoT Hardware Device Sales: Sale of plug-and-play Smart IoT devices that retrofit existing coin-operated machines to accept digital payments.
3. Platform/Subscription Services: Operators access dashboard, telemetry, promotions, and analytics through the Kwikpay platform, likely on a subscription or service fee basis.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Kwikpay provides a digital payment platform combined with a plug-and-play Smart IoT device that enables cashless, QR-code-based payments on existing coin-operated and unattended machines (arcades, vending, EV chargers, F&B). Operators gain a dashboard for real-time telemetry, dynamic pricing, promotions, and loyalty tools, while consumers pay via mobile web or app using Apple Pay, Google Pay, or cards without needing to install an app or carry coins.

Product overview

Kwikpay is a digital payment platform designed to transform traditional cash and coin-operated machines into smart, digital payment systems. The core Kwikpay Platform serves as the central system, supporting multiple vertical sectors including Amusement (arcade gaming and kiddie rides), Electric Vehicle Charge (EV charging stations), Eat & Drink (food and beverage), and Vending machines. The platform integrates a Smart IoT hardware device for machine connectivity and offers features including QR code-based mobile payments (via Apple Pay, Google Pay, and cards), loyalty programs, bundled purchases, promotions, real-time telemetry, and sales analytics. The ecosystem includes mobile apps for iOS and Android as well as a mobile web interface.

Differentiator

Problem solved

Functional benefit

Products and services

• Kwikpay Platform Core digital payment platform that transforms traditional cash and coin-operated machines into smart, digital payment systems with QR code-based mobile payments, loyalty programs, and real-time analytics. Targeted at operators of arcade gaming, vending, EV charging, and F&B machines and the end consumers who use them.
• Amusement Industry-specific Kwikpay solution that enables arcade gaming and kiddie ride operators to accept digital payments, run loyalty programs, offer bundled purchases, and access sales analytics for their machines.
• Electric Vehicle Charge Digital payment solution for EV charging station operators supporting rapid, fast, and lamp-post chargers, including tariff management, consumer profiling, loyalty programs, map placement, and complete transaction history.
• Eat & Drink Digital platform for F&B operators enabling pre-ordering, payments, and loyalty consolidation in a single mobile app to unify the digital customer experience.
• Vending Kwikpay solution that transforms traditional vending machines into smart, efficient units with low-cost digital payment upgrades, boosting sales and convenience.
• Smart IoT Device Plug-and-play IoT device compatible with multiple types of coin-operated machines, enabling digital payment acceptance without modifications to existing equipment and operating over WiFi without requiring a dedicated SIM.

Quantifiable outcome

• Incremental revenue through peak/off-peak pricing, bundled offers, and promotions
• +2 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature7 records

Scale indicators2 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• Payter: Payter builds contactless payment terminals purpose-built for vending, parking, and other unattended machines. It is a direct peer in the retrofit-card-reader-and-telemetry stack that Kwikpay offers via its plug-and-play IoT device.
• Cantaloupe (formerly USA Technologies): Cantaloupe provides cashless payments, telemetry, and consumer engagement solutions for vending and other unattended retail machines. Its ePort hardware plus Seed platform directly parallels Kwikpay's retrofit IoT device + operator dashboard approach to digitizing coin-operated machines.
• PayRange: PayRange offers a mobile payment app and BLE-based device to enable cashless payments on vending machines. It targets the same unattended-retail operator segment as Kwikpay with a consumer-led, app-first payment experience and machine-retrofit hardware model.
• Nayax: Nayax is the closest direct competitor: a publicly listed provider of cashless payment, telemetry, and management solutions for unattended automated machines (vending, amusement, EV charging, parking). It overlaps heavily with Kwikpay's product scope and target operators across multiple geographies.

Broad incumbents

• Vendekon Technologies (SUZOHAPP): SUZOHAPP is a long-standing global supplier of components and cashless payment devices for amusement, gaming, vending, and kiosk machines. It is a broader incumbent with a component and terminal portfolio that overlaps with Kwikpay's IoT retrofit and payment enablement stack.
• Block (Square): Block's Square is a leading mobile POS and contactless acceptance platform serving SMB merchants including food and beverage operators. While not focused on unattended machines, its mobile payment acceptance stack is a comparable and increasingly adjacent offering for some of Kwikpay's target verticals.
• Stripe: Stripe provides payment APIs and infrastructure (Terminal, Tap to Pay) used by software platforms to accept in-person payments. It represents the incumbent PSP stack that any operator or platform could assemble instead of using Kwikpay's integrated solution.
• Worldline (formerly Ingenico): Worldline/Ingenico is a major payments terminal and acquiring provider whose unattended and kiosk payment terminals are deployed in vending, parking, transport, and EV charging. It is a broad incumbent in the same payment-acceptance infrastructure category that Kwikpay participates in.

Emerging players

• Toast: Toast is an end-to-end restaurant POS and payment platform with ordering, loyalty, and analytics. It overlaps with Kwikpay's planned F&B vertical (digital ordering, payments, and loyalty in a single mobile app) and represents the kind of focused competitor Kwikpay would face if it pushes deeper into F&B.
• Vontu / Hubwox (EV charging SaaS): EV charging software platforms like Ampcontrol, EV.Energy, and ChargePoint's network app compete with Kwikpay's EV charging vertical specifically around charger map, payment, and consumer engagement capabilities for public and lamp-post chargers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/kwikpaytopup
• Instagraminstagram.com/kwikpayuk
• Xx.com/KwikpayUK
• LinkedInlinkedin.com/company/9424945

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kwikpay