IFX Payments

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.

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

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

• Cross-border payments
• Foreign exchange services
• Multi-currency accounts
• Mass payment solutions
• Fintech payment infrastructure

Headquarters

HQ city

Marylebone

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. 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.
2. 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.
3. Mass/Bulk Payments: Fees for facilitating large-scale batch payments across 60+ currencies for corporate clients.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core 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

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• tell.moneycoreTechnology or Integration · 4 March 2026IFX 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 ClubminorGTM or Marketing Partner · 13 October 2025IFX 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 BournemouthminorGTM or Marketing PartnerAFC 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.
• BOXXERminorGTM or Marketing PartnerBOXXER, a boxing promotion company, uses IFX Payments' technology to streamline foreign exchange payments for international boxing events and fighters, saving time and money.
• Keys FinanceminorGTM or Marketing PartnerKeys Finance is a long-standing partner of IFX Payments, using IFX's FX services for their clients' international currency needs.
• Britannia Movers InternationalminorGTM or Marketing PartnerBritannia 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 FCminorGTM or Marketing PartnerBrentford FC uses IFX Payments for currency risk management and FX solutions, managing their exposure to currency fluctuations as an international football club.
• Oxford UnitedminorGTM or Marketing PartnerOxford United Football Club is listed as an IFX partner, using IFX's FX services for the club's international financial operations.
• Hibernian FCminorGTM or Marketing PartnerHibernian FC is listed as an IFX partner, using IFX's FX services for the club's international financial operations.
• tell.moneycoreTechnology or Integrationtell.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 AllianceminorGTM or Marketing PartnerThe 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

Direct 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

• Xx.com/ifxpayments
• Facebookfacebook.com/ifxpayments
• LinkedInlinkedin.com/company/ifxpayments

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about IFX Payments