IFX Payments
IFX Payments is a UK FCA-authorised cross-border payments and FX provider offering multi-currency accounts (40+ currencies), mass payments (60+ currencies), and FX services to fintechs, corporates, and individuals across the UK, Europe, the Middle East, and Canada.
- Company typePrivate
- Founded2007
- HeadquartersMarylebone, United Kingdom
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What IFX Payments does
IFX Payments is a UK-based cross-border payments and foreign exchange provider founded in 2007 and headquartered in London. Operating through IFX (UK) Ltd (also trading as International Foreign Exchange), the company is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN 900517) for issuing electronic money, and additionally holds DFSA authorisation in the Dubai International Financial Centre (FRN F001814) and FINTRAC registration in Canada. It serves three primary customer segments — fintechs seeking embedded payment infrastructure, corporate clients needing international payments and FX risk management, and individuals making personal international transfers — through offices in London, Warsaw, and Dubai.
The company's core product is ibanq, a proprietary multi-currency account platform supporting 40+ currencies for holding, sending, and receiving funds, complemented by a Mass Payments solution that processes batch transfers in 60+ currencies, an IFX API for partner and fintech integration, a mobile sub-product (mPay), and a Dual Pay service. Platform security is anchored by BindID (Transmit Security) for Secure Customer Authentication using device-held biometrics. IFX also provides tailored Business and Personal FX advisory services, positioning the offering as a service-led, relationship-managed alternative to purely automated FX providers.
Revenue is generated primarily through FX transaction fees on cross-border payments, with secondary recurring revenue from multi-currency account services and bulk payment processing. Pricing operates on a quote-based, multi-year contract model with no publicly disclosed fee schedule. Distribution combines a sales-led direct channel (account executives covering institutional, corporate, and private clients) with self-serve onboarding via ibanq and API-based integration for fintech partners, supported by content marketing, industry events, and a sports-sponsorship-led brand programme covering five UK football clubs and partnerships across boxing, finance, and international moving. The company is privately held with 101-250 employees and no disclosed funding rounds or external investor backing.
IFX Payments firmographics
Firmographics- Name
- IFX Payments
- Legal name
- IFX (UK) Ltd
- Website
- https://ifxpayments.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- IFX Payments is a UK FCA-authorised cross-border payments and FX provider offering multi-currency accounts (40+ currencies), mass payments (60+ currencies), and FX services to fintechs, corporates, and individuals across the UK, Europe, the Middle East, and Canada.
- Ownership category
- akta.pro rank
IFX Payments industry classification
Industry- Product category
- Cross-border payments and foreign exchange
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Credit Intermediation and Related Activities (522)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK)
- akta.pro secondary industries
- Cross-Border & FX Payments Platforms (BPAMAFAK), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), A2A Cross-Border & FX via Open Banking (FSAMAFAK), Cross-Border Payments Clearing (International Wires & FX Settlement) (FSABAJAC)
Keywords
Where IFX Payments is headquartered
LocationHeadquarters
- HQ city
- Marylebone
- HQ country
- United Kingdom
- HQ region
- Europe
Offices3 records
Markets served
IFX Payments business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Foreign Exchange Services: IFX generates revenue through foreign exchange transactions, providing tailored FX services for businesses and individuals to manage currency risk and execute cross-border payments.
- Multi-Currency Account Services: Revenue from managing multi-currency accounts, enabling clients to hold and transact in 40+ currencies, likely with associated transaction or service fees.
- Mass/Bulk Payments: Fees for facilitating large-scale batch payments across 60+ currencies for corporate clients.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom quote-based pricing tailored to client needs and transaction volumes. |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
IFX Payments product offering
Product offeringCore offering
IFX Payments provides cross-border payments and foreign exchange services through its proprietary ibanq multi-currency account platform, supporting 40+ currencies for accounts and 60+ currencies for mass payments. The company also offers Business and Personal FX services, an API for fintech and institutional integration, and the mPay mobile application, serving fintechs, corporates, and individuals with regulated, FCA-authorised infrastructure.
Product overview
IFX Payments operates as a cross-border payments and foreign exchange platform offering a unified portfolio of payment solutions and FX services. The core product is the ibanq platform, which provides multi-currency account management and mass payments capabilities. This platform is complemented by API Solutions for partner/fintect integration, Business and Personal Foreign Exchange services for FX risk management and international transfers, and the mPay mobile application. The company serves fintechs, businesses, and individuals, with all offerings connected through the ibanq platform as the primary interface for cross-border payment execution.
Differentiator
Problem solved
Functional benefit
Brands
- ibanq: Multi-currency account platform allowing businesses to send and receive funds in 40+ currencies from one location.
- mPay
Products and services
- ibanq
Companies that use IFX Payments
Customer profileNamed customers9 records
Segments3 records
Ideal customer profiles3 records
IFX Payments technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
IFX Payments partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- tell.moneycoreIFX Payments selected tell.money as its Open Banking infrastructure partner to handle evolving PSD2 requirements across the UK and Europe. tell.money provides its fully managed open banking platform to help IFX ensure regulatory alignment, resilience, and scalability while reducing internal maintenance overhead.
- Ipswich Town Football ClubminorIFX Payments entered into an Elite Partnership with Ipswich Town Football Club to serve as the club's official Elite Partner. The partnership includes financial services support for the club's men's and women's teams, enhancing international engagement and operational efficiency. IFX gains visibility and brand presence within the club's global audience and local community.
- AFC BournemouthminorAFC Bournemouth is a partner of IFX Payments, using IFX's FX services for the club's foreign currency transactions. The Finance Director of AFC Bournemouth has provided a testimonial praising IFX's professionalism and service.
- BOXXERminorBOXXER, a boxing promotion company, uses IFX Payments' technology to streamline foreign exchange payments for international boxing events and fighters, saving time and money.
- Keys FinanceminorKeys Finance is a long-standing partner of IFX Payments, using IFX's FX services for their clients' international currency needs.
- Britannia Movers InternationalminorBritannia Movers International has partnered with IFX Payments for 8 years, using IFX's FX solutions to support their international moving customers. The partnership is described as collaborative and long-lasting.
- Brentford FCminorBrentford FC uses IFX Payments for currency risk management and FX solutions, managing their exposure to currency fluctuations as an international football club.
- Oxford UnitedminorOxford United Football Club is listed as an IFX partner, using IFX's FX services for the club's international financial operations.
- Hibernian FCminorHibernian FC is listed as an IFX partner, using IFX's FX services for the club's international financial operations.
- tell.moneycoretell.money Limited is listed on IFX's sub-processor register as an Open Banking solutions provider, confirming the ongoing technology partnership for open banking infrastructure.
- Hungarian British Business AllianceminorThe Hungarian British Business Alliance is listed as a partner of IFX Payments, indicating a business networking and referral relationship supporting UK-Hungary trade.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
IFX Payments competitors and assessment
Company assessmentDirect peers
- OFX: Global payments and FX specialist offering multi-currency accounts, mass payments, and risk management to corporates and individuals. Closely comparable to IFX on cross-border payments, hedging tools, and dedicated account management model.
- Moneycorp: UK-based cross-border payments and FX specialist serving corporates and individuals with multi-currency accounts and mass payments. Highly comparable to IFX in product, customer segments, and sales-led distribution; multiple IFX alumni (e.g., Sales Director Wasan Zaini, Partnerships Director John Kinghorn) previously worked at Moneycorp.
- Equals Group: UK-listed provider of multi-currency accounts, FX cards, and international payments targeting corporates and consumers. Comparable to IFX on ibanq-style multi-currency accounts and FX/payments bundles; IFX's Partnerships Director previously held a role at Equals.
- WorldFirst: Cross-border payments and FX platform serving SMEs and online sellers globally, now owned by Ant Group. Overlaps with IFX on multi-currency accounts and FX for international businesses; IFX's CCO Sara Cass previously held a senior compliance role at WorldFirst.
Broad incumbents
- Banking Circle: Payments bank providing real-time cross-border payments, multi-currency accounts, and FX infrastructure to financial institutions. Comparable to IFX on institutional-grade payment rails; IFX's Head of Operations Stephen Hutchinson previously worked at Banking Circle.
- Western Union Business Solutions: Large incumbent offering international payments and FX for businesses and individuals, including multi-currency accounts and mass payouts. Overlaps with IFX on cross-border B2B FX and payouts but operates at much greater scale with a global branch network.
- Revolut Business: Global fintech offering multi-currency business accounts, FX, and mass payments to SMEs and corporates. Comparable product surface to IFX but with self-serve PLG model and stronger consumer brand; competes for the same fintech and SMB customer base.
- Wise: Public, large-scale cross-border payments and multi-currency account provider serving consumers and businesses globally. Competes with IFX in the same corridors but at vastly greater scale and price transparency; sets the competitive benchmark for transparent FX pricing that IFX does not match.
Emerging players
- Shieldpay: UK-based fintech providing payment infrastructure and FX services to financial institutions and corporates. Comparable to IFX in UK institutional FX/payments targeting; one IFX sales hire previously worked at Shieldpay, indicating direct talent overlap.
- BVNK: Payments infrastructure provider for fintechs offering multi-currency accounts, FX, and payouts via API. Comparable to IFX on API-driven embedded payments for fintech clients; IFX's Partnerships Director John Kinghorn previously worked at BVNK, indicating direct familiarity.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
IFX Payments social profiles
Digital presenceIFX Payments compliance and trust
Trust signalCompliance6 records
IFX Payments financial estimates
Financial estimateRevenue estimate
Valuation estimate
IFX Payments leadership team
Management profileNumber of profiles
Profiles15 records
IFX Payments funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
IFX Payments M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about IFX Payments
What does IFX Payments do?
IFX Payments provides cross-border payments and foreign exchange services through its proprietary ibanq multi-currency account platform, supporting 40+ currencies for accounts and 60+ currencies for mass payments. The company also offers Business and Personal FX services, an API for fintech and institutional integration, and the mPay mobile application, serving fintechs, corporates, and individuals with regulated, FCA-authorised infrastructure.
Is IFX Payments a public or private company?
IFX Payments is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was IFX Payments founded?
IFX Payments was founded in 2007. It employs 101 to 250 people.
Where is IFX Payments based?
IFX Payments is headquartered in Marylebone, United Kingdom, in the Europe region.
How does IFX Payments make money?
Three revenue lines are on record. Foreign Exchange Services are the primary driver. The others are multi-Currency Account Services and mass/Bulk Payments.
Who are IFX Payments's main competitors?
Direct peers on record are OFX, Moneycorp, Equals Group and WorldFirst. Broad incumbents are Banking Circle, Western Union Business Solutions, Revolut Business and Wise. Emerging players are Shieldpay and BVNK.
Does IFX Payments have an API?
No public API is recorded for IFX Payments.
What industry is IFX Payments in?
IFX Payments's product category is Cross-border payments and foreign exchange. Its primary akta.pro industry code is FSAGABAK, Cross-Border FX, Multi-Currency & Treasury for Payments, with a secondary code of BPAMAFAK, Cross-Border & FX Payments Platforms. Its NAICS code is 52232 and its SIC code is 6199.