Propelr
Propelr Pay is a wholesale ISO payment processor serving 14,000+ SMB and enterprise merchants with direct Visa integration and agnostic gateway connections, while running an ISV embedded payments program and an ISO/reseller channel with revenue-share economics.
- Company typePrivate
- Founded2022
- HeadquartersWayne, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Propelr does
Propelr (legal name Propelr Pay) is a registered wholesale ISO (Independent Sales Organization) that delivers full-service payment processing to SMBs, enterprise merchants, ISVs, and reseller partners across the United States and 75+ countries. Its technology stack combines direct Visa integration with agnostic gateway connections to Fiserv, TSYS, and Visa Platform Connect (VPC), supporting card-present and card-not-present transactions with tokenization and point-to-point encryption. The company operates across three product lines: an embedded payments platform for Independent Software Vendors (ISVs) featuring white-label APIs and revenue-share economics; a merchant payment processing solution offering wholesale interchange rates, next-day funding, 24/7 support, and a portfolio of value-added features (BNPL, text-to-pay, surcharging, gift cards); and a reseller/ISO partner program with agnostic gateway connectivity, BPS-margin tracking, lifetime profit reporting, and co-branded marketing assets.
Revenue is generated primarily via transaction and interchange spreads on payment volume (claim: $8B+ processed annually across 14,000+ merchants), ISV revenue shares on embedded transactions, and add-on subscriptions and features. Distribution runs through direct sales to SMB and enterprise, an ISO/reseller channel, ISV white-label embeddings, and channel partnerships (notably NEACH Payments Group for financial institutions and FreedomPay/DRIVE for the automotive ERP vertical). The company is sponsored by KeyBank N.A., Woodforest National Bank, and Pathward N.A., and it acquired Miami-based Ireland Pay in 2024 to extend its merchant portfolio. Propelr is privately held, headquartered in St. Davids (Wayne), Pennsylvania, with a regional office in Plano (Dallas), Texas, and was co-founded by Angelo Grecco (CEO) and Michael Mertz.
Propelr firmographics
Firmographics- Name
- Propelr
- Legal name
- Propelr Pay
- Website
- https://propelrpay.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Propelr Pay is a wholesale ISO payment processor serving 14,000+ SMB and enterprise merchants with direct Visa integration and agnostic gateway connections, while running an ISV embedded payments program and an ISO/reseller channel with revenue-share economics.
- Ownership category
- akta.pro rank
Propelr industry classification
Industry- Product category
- Payment Processing Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- akta.pro primary industry
- Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)
- akta.pro secondary industries
- Integrated POS Payments (ISVs & Vertical POS Platforms) (FSAMADAD), Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), Fintech & Payments Partner / ISO Referral Networks (FSAEAMAK)
Keywords
Where Propelr is headquartered
LocationHeadquarters
- HQ city
- Wayne
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Propelr business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Transaction/Payment Processing Fees: Propelr earns revenue through interchange and processing fees charged on each payment transaction processed through its platform. As a wholesale ISO, it provides merchants with optimized wholesale rates and retains a margin on each transaction. Reseller partners earn commission revenue shares on merchant transaction volume they bring to the platform.
- ISV Partner Revenue Shares: Software platforms that embed Propelr's payment acceptance earn partner revenue shares on every transaction flowing through their platform. This creates a recurring revenue stream for ISVs and incentivizes Propelr's integrated software partner acquisition.
- Add-on Products and Features: Propelr generates additional revenue through value-added solutions including buy now pay later (BNPL), dual pricing programs, text-to-pay, gift cards, and integrations with platforms like QuickBooks and Micros. Reseller partners can leverage these add-ons to address complex merchant needs.
- Reseller Agent Commission Splits: Reseller partners (ISOs and independent sales agents) configure merchant pricing based on their revenue goals, retaining a portion of the processing revenue. Propelr provides transparent commission reporting, BPS margin tracking, and lifetime profit visibility through its partner CRM.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Wholesale Processing Rate - Custom Merchant Pricing |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
Propelr product offering
Product offeringCore offering
Propelr is a wholesale Independent Sales Organization (ISO) that provides merchant payment processing at wholesale interchange rates with direct Visa integration and an agnostic gateway supporting Fiserv, TSYS, and Visa Platform Connect. It offers white-label embedded payment APIs for software companies (ISVs) to monetize integrated payment flows, a reseller/agent program for independent sales partners, and ancillary products such as DrivePay for automotive dealerships, statement analysis, BNPL, text-to-pay, gift cards, and dual-pricing programs. All services are delivered with tokenization, point-to-point encryption, PCI-DSS Level 1 hosting, and a 3am ET cutoff for next-day funding.
Product overview
Propelr is a full-service payment processing provider operating as a registered ISO with KeyBank N.A., Woodforest National Bank, and Pathward N.A. The company offers three core product lines: (1) an embedded payments platform for Independent Software Vendors (ISVs) featuring white-label APIs, revenue-sharing models, and merchant retention tools; (2) a merchant payment processing solution for SMBs and enterprise businesses offering wholesale rates, next-day funding, 24/7 support, and security via P2PE and tokenization; and (3) a reseller/agent program providing agnostic gateway connections, portfolio CRM tools, and co-branded marketing support. Additional products include the DrivePay automotive payment solution (powered with FreedomPay and DRIVE), the Statement Analysis tool for identifying hidden merchant processing fees, the 3am ET cutoff funding feature, and value-added options such as BNPL, text-to-pay, surcharging, and gift cards. Propelr became a wholesale ISO in 2026, gaining full control of the merchant experience across Fiserv, TSYS, and Visa Platform Connect.
Differentiator
Problem solved
Functional benefit
Products and services
- Merchant Payment Processing Card-present and card-not-present payment acceptance service for SMB and enterprise merchants, delivering wholesale interchange rates via direct Visa integration, agnostic gateway support across Fiserv, TSYS, and VPC, next-day funding with a 3am ET cutoff, 24/7 US-based support, and ERP/POS integration.
- Embedded Payments Platform (ISV Partner Program) White-label embedded payments product for software companies (ISVs) that want to integrate card acceptance into their platforms, earn a revenue share on processed volume, and outsource onboarding, underwriting, risk, and 24/7 support to Propelr.
- Agent / ISO Reseller Program Partner program for independent sales agents and ISOs that resell Propelr's merchant payment processing, offering co-branded marketing collateral, portfolio CRM tooling, transparent BPS margin tracking, dedicated account management, and competitive wholesale rates.
- DrivePay Integrated payment acceptance product for automotive dealerships built jointly with FreedomPay and the DRIVE dealership management platform, designed to streamline card payments across sales, service, and parts departments.
- Statement Analysis Service Standalone merchant statement analysis service in which Propelr reviews a merchant's existing processing statement to identify hidden fees, inflated markups, and potential savings, typically as a precursor to a sales conversation about Propelr's processing services.
Quantifiable outcome
- 99.9% uptime guarantee
- +2 more outcomes
Companies that use Propelr
Customer profileNamed customers13 records
Segments5 records
Ideal customer profiles5 records
Propelr technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
Propelr partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- NEACH Payments GroupcoreNEACH Payments Group (NPG) partnered with Propelr on March 18, 2026, to provide Propelr's wholesale payment processing rates, 24/7 dedicated support, and advanced security features to NPG's client base of financial institutions and third-party providers. The partnership is designed to reduce payment acceptance costs, improve visibility into payment activity, and simplify day-to-day operations for NPG clients. The partnership is available immediately to NEACH Payments Group clients.
- FreedomPaycorePropelr partnered with FreedomPay and DRIVE on March 2, 2026, to launch DrivePay — a fully integrated payment acceptance solution embedded directly inside the DRIVE automotive ERP platform. FreedomPay provides the enterprise-grade commerce technology (Next Level Commerce platform) powering DrivePay transactions across channels, including PCI-validated encryption, real-time analytics, and unified payment acceptance. Propelr serves as the merchant services engine delivering consultative support and competitive pricing.
- DRIVEcoreDRIVE, a platform with over 30 years helping independent automotive operators run stronger businesses, partnered with Propelr and FreedomPay to launch DrivePay. DRIVE embeds payment acceptance directly inside its ERP platform, enabling automotive shops to streamline checkout, improve cash flow, and gain real-time transaction insights without managing separate payment systems.
- VisacorePropelr is directly integrated with Visa, providing access to best-in-class payment technology that optimizes the overall payments journey. This direct Visa integration enables Propelr to deliver competitive rates, advanced security features, and innovative payment solutions across all supported platforms including Fiserv, TSYS, and Visa Platform Connect (VPC).
- FiservcoreFiserv is one of the supported processing platforms across Propelr's wholesale ISO network. Propelr owns the full merchant experience across Fiserv, enabling complete control over pricing, underwriting, risk monitoring, onboarding, and support within this platform environment.
- TSYScoreTSYS is one of the supported processing platforms across Propelr's wholesale ISO network. Propelr's full ownership of the merchant lifecycle extends across its TSYS connection, providing merchants with flexible, customized payment solutions.
- Visa Platform Connect (VPC)coreVisa Platform Connect (VPC) is one of Propelr's supported platforms. As a wholesale ISO with direct VPC integration, Propelr provides merchants with access to Visa's global payment infrastructure and competitive commercial card pricing, including CEDP (Commercial Enhanced Data Program) capabilities.
- KeyBank, National AssociationcorePropelr is a registered ISO (Independent Sales Organization) of KeyBank, National Association, Cleveland, OH. KeyBank serves as one of Propelr's sponsoring banks, enabling Propelr to offer payment processing services under its banking charter and regulatory framework.
- Woodforest National BankcorePropelr is a registered ISO of Woodforest National Bank, The Woodlands, TX. Woodforest National Bank serves as a sponsoring bank for Propelr's payment processing operations, enabling the company to serve merchants nationwide.
- Pathward, N.A.corePropelr is a registered ISO of Pathward, N.A., Sioux Falls, SD. Pathward (formerly known as MetaBank) serves as one of Propelr's sponsoring banks, enabling the company to offer payment processing and financial services across its merchant network.
- Woodforest Acceptance SolutionsminorWoodforest Acceptance Solutions and Propelr announced a partnership to improve the payments experience for ISVs, merchants, and reseller partners. This partnership leverages Woodforest's financial services capabilities and Propelr's payment processing technology to deliver enhanced solutions.
Scale indicators4 records
Recent moves8 records
Expansion highlights7 records
Propelr competitors and assessment
Company assessmentDirect peers
- North American Bancard: Independent wholesale ISO/acquirer with a comparable merchant processing and ISO/reseller agent program model; directly competes with Propelr for SMB and mid-market merchants and for independent agent sponsorship.
- Payment Depot: Membership/wholesale-rate payment processor targeting SMBs with interchange-plus pricing and an agent program; structurally similar to Propelr's merchant and reseller offerings.
- Helcim: Direct payment processor offering transparent interchange-plus pricing and integrated software/ISV capabilities; competes head-on with Propelr on transparent pricing and merchant self-service.
- Gravity Payments: Independent credit card processor with a sales-led, relationship-driven ISO model; overlaps with Propelr's SMB / mid-market direct sales motion.
- Stax (formerly Fattmerchant): Subscription-style payment processor targeting SMBs and software platforms with embedded payments; directly competes with Propelr on both merchant and ISV fronts.
Broad incumbents
- Stripe: Global payments incumbent whose Stripe Connect product is the dominant ISV/embedded payments offering; competes with Propelr's ISV channel though at much larger scale.
- Block (Square): Major payments incumbent serving SMBs with hardware, software, and processing; overlaps with Propelr's merchant and embedded/payments strategy at a much broader scale.
- Heartland Payment Systems (Global Payments): Large payments acquirer providing SMB merchant processing, ISO agent support, and embedded commerce products; serves many of the same verticals (restaurants, hospitality) as Propelr.
Emerging players
- Finix: Emerging payments infrastructure platform purpose-built for embedded/ISV use cases; directly competes with Propelr's ISV embedded payments channel.
- Spreedly: Payment orchestration and gateway-agnostic platform for software companies; matches Propelr's agnostic gateway and ISV positioning but focused more on orchestration than merchant acquiring.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Propelr social profiles
Digital presencePropelr compliance and trust
Trust signalCompliance2 records
Propelr financial estimates
Financial estimateRevenue estimate
Valuation estimate
Propelr leadership team
Management profileNumber of profiles
Profiles8 records
Propelr subsidiaries and ownership
Company hierarchySubsidiaries1 record
Propelr funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Propelr M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Propelr
What does Propelr do?
Propelr is a wholesale Independent Sales Organization (ISO) that provides merchant payment processing at wholesale interchange rates with direct Visa integration and an agnostic gateway supporting Fiserv, TSYS, and Visa Platform Connect. It offers white-label embedded payment APIs for software companies (ISVs) to monetize integrated payment flows, a reseller/agent program for independent sales partners, and ancillary products such as DrivePay for automotive dealerships, statement analysis, BNPL, text-to-pay, gift cards, and dual-pricing programs. All services are delivered with tokenization, point-to-point encryption, PCI-DSS Level 1 hosting, and a 3am ET cutoff for next-day funding.
Is Propelr a public or private company?
Propelr is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Propelr founded?
Propelr was founded in 2022. It employs 51 to 100 people.
Where is Propelr based?
Propelr is headquartered in Wayne, United States, in the North America region.
How does Propelr make money?
Four revenue lines are on record. Transaction/Payment Processing Fees are the primary driver. The others are ISV Partner Revenue Shares, add-on Products and Features and reseller Agent Commission Splits.
Who are Propelr's main competitors?
Direct peers on record are North American Bancard, Payment Depot, Helcim, Gravity Payments and Stax (formerly Fattmerchant). Broad incumbents are Stripe, Block (Square) and Heartland Payment Systems (Global Payments). Emerging players are Finix and Spreedly.
Does Propelr have an API?
Yes. Propelr offers white-label ready, developer-friendly APIs for embedded payment acceptance. The APIs provide a straightforward path for software companies to embed payment functionality into their platforms. No public developer portal or documentation URL was identified in the available sources.
What industry is Propelr in?
Propelr's product category is Payment Processing Services. Its primary akta.pro industry code is FSAMABAA, Integrated Payment Processors (PSP/Acquirer), with a secondary code of FSAMADAD, Integrated POS Payments (ISVs & Vertical POS Platforms). Its NAICS code is 522320.