Frii Pay
Frii Pay (Frii World Ltd) is a London-based fintech operating a cross-platform Web 3.0 payment gateway that bridges blockchain and traditional card payments for acquiring banks, PSPs, terminal manufacturers, and merchants, offering white-label wallets, automated FIAT off-ramping, and multi-chain interoperability via XRP Ledger integrations.
- Company typePrivate
- Founded2023
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Frii Pay does
Frii Pay (legal entity: Frii World Ltd) is a London-based, privately held fintech founded in 2023 that operates a cross-platform Web 3.0 payment gateway integrating blockchain-based transactions with existing Web 2.0 card payment infrastructure. The platform supports attended POS, unattended POS/kiosks, ecommerce, pay-by-link, and hospitality POS terminals, and is built around modular components including on-chain merchant wallets (Special Merchant Accounts), automated daily FIAT off-ramping, peer-reviewed chargeback arbitration, and AML/fraud monitoring with KYC and real-time analytics. Underlying technology integrates with the XRP Ledger via Ripple, GateHub, and Xumm, and combines with conventional card processing through PSP partners including DNA Payments, Truevo, PayXpert, Fiserv, and Monek, plus terminal OEM PAX. The company is led by Founder & CEO Farhaan Dawood, Co-Founder & CTO Nabeel Choudhry, and Strategic Advisor Robert Ashcroft, with a reported headcount of 1-10.
Frii Pay sells to acquiring banks, PSPs, ISOs, EPOS software houses, terminal manufacturers, Layer 1 blockchain wallets, developer communities, FIAT off-ramp providers, and central bank CBDC programs. Revenue mechanics rest on three streams: transaction-based processing fees on payment volume, software licensing/royalties for white-label Web 3.0 wallet solutions to banks and PSPs, and fees on automated FIAT settlement services. Pricing is quote-based for enterprise clients with monthly billing, and distribution combines direct enterprise sales with channel partnerships through PSPs, terminal OEMs, and blockchain ecosystem communities.
The most significant commercial catalyst to date is the December 2025 strategic partnership with Enigma Ecosystem, LLC to develop the Enigma Secured Payment Network — an omni-chain payment platform integrating Frii Pay's software with Enigma's RAVID technology, targeting real-time digital payments across more than 52 million card-payment terminals globally. As of the 2025 reporting period, the company is in Live Trials with an acquiring bank partner, ISO partner, central bank partner, and a community project, and has not disclosed revenue, ARR, or significant institutional funding.
Frii Pay firmographics
Firmographics- Name
- Frii Pay
- Legal name
- Frii World Ltd
- Website
- https://friipay.io
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Frii Pay (Frii World Ltd) is a London-based fintech operating a cross-platform Web 3.0 payment gateway that bridges blockchain and traditional card payments for acquiring banks, PSPs, terminal manufacturers, and merchants, offering white-label wallets, automated FIAT off-ramping, and multi-chain interoperability via XRP Ledger integrations.
- Ownership category
- akta.pro rank
Frii Pay industry classification
Industry- Product category
- Payment Gateway Software
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
- akta.pro secondary industries
- POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO), Payments, Remittances & Merchant Acceptance (checkout, invoicing, payroll) (FSAPAEAE), POS, QR & In-Person Acceptance Infrastructure (Crypto) (FSADAIAI)
Keywords
Where Frii Pay is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
Frii Pay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations, Others
Revenue model
- Payment Processing Fees: Transaction fees charged to merchants for processing digital asset and traditional payments through the platform
- Software Licensing: White-label Web3 wallet solutions and technology licensing to banks, POS manufacturers, and PSPs
- Settlement Services: Automated FIAT off-ramping services for merchants converting digital asset holdings
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Enterprise/B2B pricing for acquiring banks, PSPs, and terminal manufacturers |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels3 records
Frii Pay product offering
Product offeringCore offering
Frii Pay provides a cross-platform Web 3.0 payment gateway that integrates blockchain-based payments with existing Web 2.0 card payment infrastructure, enabling merchants to accept both traditional and digital asset payments across attended POS, unattended POS, ecommerce, pay-by-link, and hospitality POS terminals. The platform bundles on-chain merchant wallets, an automated daily FIAT off-ramp, a peer-reviewed chargeback arbitration system, real-time AML/KYC and fraud monitoring, white-label Web3 wallet solutions, and XRPL wallet integration, sold to B2B customers such as acquiring banks, PSPs, ISOs, EPOS software houses, terminal manufacturers, and central banks.
Product overview
Frii Pay is a single unified Web 3.0 payment platform that bridges traditional and blockchain-based commerce. At its core, the platform consists of the Frii Pay gateway (a cross-platform payment network supporting attended POS, unattended POS, ecommerce, pay-by-link, and hospitality POS), augmented by specialized merchant modules including on-chain wallets with customizable retail features, an automated FIAT off-ramp engine, a peer-reviewed chargeback arbitration system, and AML/fraud monitoring with KYC and real-time analytics. Supporting modules include the Frii Wallet xApp, White Label Wallet for partners, and a cross-ledger wallet for multi-chain interoperability. The platform targets both Web 2.0 clients (acquiring banks, PSPs, EPOS software houses, terminal manufacturers) and Web 3.0 clients (Layer 1 blockchain wallets, developer communities, FIAT off-ramp providers, central bank CDBCs).
Differentiator
Problem solved
Functional benefit
Brands
- Enigma Secured Payment Network: Omni-chain payment platform developed through partnership with Enigma Ecosystem, LLC integrating Frii Pay's software with Enigma's RAVID technology for real-time digital payments
Products and services
- Frii Pay Cross-Platform Payment Gateway A cross-platform Web 3.0 payment gateway that integrates blockchain-based payments with existing Web 2.0 card payment infrastructure, supporting attended POS, unattended POS, ecommerce, pay-by-link, and hospitality POS terminals. Sold as B2B infrastructure to acquiring banks, PSPs, ISOs, EPOS software houses, terminal manufacturers, and central banks.
Quantifiable outcome
- Support for real-time digital payments across more than 52 million card-payment terminals globally
Companies that use Frii Pay
Customer profileSegments4 records
Ideal customer profiles3 records
Frii Pay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature8 records
Frii Pay partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and supporting.
- Enigma Ecosystem, LLCcoreStrategic partnership to develop the Enigma Secured Payment Network, an omni-chain payment platform integrating Frii Pay's software with Enigma's RAVID technology. The joint system aims to support real-time digital payments across more than 52 million card-payment terminals globally, enabling merchants to accept digital assets securely and efficiently.
- Ripple / XRP LedgercoreTechnology integration with Ripple blockchain and XRP Ledger ecosystem including Xumm wallet integration and XRPL wallet R&D. The platform supports XRP Ledger-based transactions and wallet services.
- DNA PaymentssupportingPayment processing integration with DNA Payments for card payment services
- TruevosupportingPayment processing integration with Truevo for card payment services
- FiservsupportingPayment processing integration with Fiserv for card payment services
- GateHubsupportingBlockchain wallet integration with GateHub for digital asset services
- PayXpertsupportingPayment processing integration with PayXpert for card payment services
- PAXsupportingTerminal manufacturer partnership with PAX for POS hardware integration
- XummsupportingXRP Ledger wallet integration with Xumm for blockchain wallet services
- MoneksupportingPayment processing integration with Monek for card payment services
Scale indicators2 records
Recent moves6 records
Expansion highlights5 records
Frii Pay competitors and assessment
Company assessmentDirect peers
- Alchemy Pay: Crypto-fiat hybrid payment gateway supporting both online and in-person acceptance across multiple chains. Direct peer given shared focus on bridging Web3 payments with traditional card networks and POS infrastructure.
- Coinbase Commerce: Crypto-native merchant payment gateway enabling online and POS merchants to accept digital assets and convert to FIAT. Direct competitor to Frii Pay's Web3 payment acceptance and auto off-ramp features.
- BitPay: Long-standing crypto payment processor offering merchant checkout, invoicing, and FIAT settlement. Closely comparable to Frii Pay in combining digital asset acceptance with automated FIAT off-ramping for merchants.
Broad incumbents
- Shopify: Named by Frii Pay as a competitor; Shopify Payments and Shopify's POS ecosystem are exploring crypto integrations. A broad incumbent with embedded merchant relationships that Frii Pay is trying to enable via white-label.
- Ripple: Operator of the XRP Ledger that underpins Frii Pay's core blockchain integration. Both a strategic partner and a broad incumbent building payment infrastructure for cross-border and on-chain value transfer.
- Circle: USDC issuer building merchant and developer payment rails on top of stablecoins. Comparable to Frii Pay's on-chain wallet and FIAT off-ramp story, but at vastly greater scale and with native USDC distribution.
- Fiserv: Major payments processor and acquiring bank technology provider already integrated with Frii Pay as a PSP partner. Comparable merchant acquiring and processing capabilities at enterprise scale.
- Stripe: Dominant Web2 payment gateway and processing platform that Frii Pay itself names as a competitor. Stripe is adding crypto/USDC capabilities and dwarfs Frii Pay in scale, distribution, and developer ecosystem.
- Block (Square): POS (Square) and Bitcoin/Cash App ecosystem with growing crypto payment functionality. Comparable multi-POS + crypto acceptance model, with far larger installed base and balance sheet.
Emerging players
- BVNK: Emerging payments infrastructure provider focused on stablecoin and digital asset payment rails for merchants and platforms. Comparable business model targeting enterprise and PSP clients with crypto-fiat settlement.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Frii Pay social profiles
Digital presenceFrii Pay financial estimates
Financial estimateRevenue estimate
Valuation estimate
Frii Pay leadership team
Management profileNumber of profiles
Profiles4 records
Frii Pay funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Frii Pay 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 Frii Pay
What does Frii Pay do?
Frii Pay provides a cross-platform Web 3.0 payment gateway that integrates blockchain-based payments with existing Web 2.0 card payment infrastructure, enabling merchants to accept both traditional and digital asset payments across attended POS, unattended POS, ecommerce, pay-by-link, and hospitality POS terminals. The platform bundles on-chain merchant wallets, an automated daily FIAT off-ramp, a peer-reviewed chargeback arbitration system, real-time AML/KYC and fraud monitoring, white-label Web3 wallet solutions, and XRPL wallet integration, sold to B2B customers such as acquiring banks, PSPs, ISOs, EPOS software houses, terminal manufacturers, and central banks.
Is Frii Pay a public or private company?
Frii Pay is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Frii Pay founded?
Frii Pay was founded in 2023. It employs 1 to 10 people.
Where is Frii Pay based?
Frii Pay is headquartered in London, United Kingdom, in the Europe region.
How does Frii Pay make money?
Three revenue lines are on record. Payment Processing Fees are the primary driver. The others are software Licensing and settlement Services.
Who are Frii Pay's main competitors?
Direct peers on record are Alchemy Pay, Coinbase Commerce and BitPay. Broad incumbents are Shopify, Ripple, Circle, Fiserv, Stripe and Block (Square). BVNK is listed as an emerging player.
Does Frii Pay have an API?
No public API is recorded for Frii Pay.
What industry is Frii Pay in?
Frii Pay's product category is Payment Gateway Software. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of FSAGABAO, POS, SoftPOS & In-Person Acceptance Infrastructure. Its NAICS code is 522320 and its SIC code is 6199.