FirstPayment
FirstPayment is a Canadian-founded cryptocurrency payment processor that enables merchants to accept Bitcoin and other digital assets with real-time conversion to fiat currency via ACH settlement. It serves in-store retailers, eCommerce merchants, luxury sellers, and channel partners through its patented blockchain payment platform.
- Company typePrivate
- Founded2022
- HeadquartersToronto, Canada
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What FirstPayment does
FirstPayment is a Canadian-founded (2022) cryptocurrency payment processor serving merchants that want to accept digital assets without exposure to price volatility. The company's core platform converts customer cryptocurrency payments into fiat currency (primarily USD) in real time, settling merchants via ACH deposits from partner banks. Product surface spans the FirstPayment crypto payment platform, the YuzuPay sub-brand for crypto-to-fiat conversion, a WooCommerce integration for e-commerce merchants, Lightning Network integration for lower-cost transactions, and a merchant management portal for transaction reporting. The platform underpins real-time blockchain monitoring for risk and fraud detection and supports APIs documented in the merchant agreement.
The technology is anchored by six granted patents and five pending patents related to mobile payments and digital assets. FirstPayment operates under MSB registrations in Canada (FINTRAC, M22153885) and the United States (FinCEN, 31000218200613), with entities FirstPayment Inc. (Ontario) and First Payment USA, Inc. (Nevada). The business model is transaction-based: a 1.9% processing rate on crypto-to-fiat transactions, plus ancillary fees including $1 per ACH deposit, $5 per ACH reversal, $10 per KYB onboarding, $1.50 per KYC verification above $3,000, and a $2.99 minimum for transactions below $30. Go-to-market combines sales-led direct merchant acquisition with a channel partner program targeting ISVs and merchant service providers. Customer focus spans in-store retail, eCommerce, luxury retail, and jewelry sellers.
In December 2025, Datametrex AI Limited signed a definitive agreement to acquire the Yuzu payment processing solution from FirstPayment for $5.5 million, satisfied via 55 million Datametrex shares at $0.10. CEO Michael Kron joined Datametrex's board and the COO role at subsidiary Paymetrex Payment Solutions. Following this transaction, the original Yuzu-based operating business has effectively been absorbed into Datametrex's public-company structure.
FirstPayment firmographics
Firmographics- Name
- FirstPayment
- Legal name
- FirstPayment Inc
- Website
- https://firstpayment.io
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- FirstPayment is a Canadian-founded cryptocurrency payment processor that enables merchants to accept Bitcoin and other digital assets with real-time conversion to fiat currency via ACH settlement. It serves in-store retailers, eCommerce merchants, luxury sellers, and channel partners through its patented blockchain payment platform.
- Ownership category
- akta.pro rank
FirstPayment industry classification
Industry- Product category
- Cryptocurrency Payment Processing
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Crypto Merchant Acquirers & PSPs (Payment Service Providers) (FSADAIAB)
- akta.pro secondary industries
- Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Crypto Payment Gateways & Checkout APIs (FSADAIAA)
Keywords
Where FirstPayment is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
FirstPayment business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Transaction Processing Fees: FirstPayment charges merchants a 1.9% processing rate for crypto-to-fiat transactions. Fees are deducted from settlement amounts via ACH deposits to merchant bank accounts.
- ACH Settlement Fees: Additional fees for payment settlement including $1.00 per ACH deposit/remittance, $5.00 per ACH return/reversal, and minimum transaction fees of $2.99 for transactions under $30.00.
- KYB/KYC Verification Fees: One-time KYB verification fee of $10.00 per merchant onboarding and $1.50 per KYC verification occurrence for transactions over $3,000.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Merchant Processing Rate |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels7 records
FirstPayment product offering
Product offeringCore offering
FirstPayment is a cryptocurrency payment processing platform that enables merchants to accept crypto payments (Bitcoin, Ethereum, and others) and receive fiat currency settlements. Its core offering automatically converts cryptocurrency to US dollars in real-time, eliminating volatility risk, and settles funds to merchant bank accounts via ACH deposits.
Product overview
FirstPayment offers a unified cryptocurrency payment processing platform that enables merchants to accept crypto payments and receive fiat currency settlements. The core offering consists of the FirstPayment Crypto Payment Platform, which integrates the YuzuPay crypto-to-fiat solution to automatically convert Bitcoin and other cryptocurrencies to US dollars in real-time. Supporting features include the Merchant Management Platform for transaction data and reporting, Risk Monitoring for fraud detection, and Lightning Network integration for faster, lower-cost transactions. The company also holds granted and pending patents related to mobile payments and digital assets. The platform supports both in-store retail and eCommerce merchant segments.
Differentiator
Problem solved
Functional benefit
Brands
- YuzuPay: A crypto-to-fiat payment processing solution that enables merchants to accept Bitcoin and other cryptocurrency payments with automatic real-time conversion to US dollars, mitigating volatility risk for merchants.
Products and services
- FirstPayment Crypto Payment Platform A cryptocurrency payment processing platform that enables merchants and consumers to transact with crypto securely. It converts cryptocurrency to fiat currency in real-time and provides settlement through ACH deposits, blockchain monitoring, and a merchant management portal. Serves in-store retailers and eCommerce merchants.
- YuzuPay A crypto-to-fiat payment solution that enables merchants to accept Bitcoin and other cryptocurrency payments while automatically converting them to US dollars in real-time, eliminating volatility risk. Includes a WooCommerce plugin for e-commerce merchants such as jewelry sellers.
- Merchant Management Platform A platform providing merchants access to historical transaction data, merchant statements, transaction reports, and account management. All transactional data is captured and stored within this portal.
- Crypto-to-Fiat Settlement Services Services that convert cryptocurrency transactions to US dollars in real-time through trading and liquidity management, with direct ACH deposits to merchant bank accounts.
- Risk Monitoring Services Real-time blockchain monitoring tools that process all transactions through risk monitoring systems to detect unusual activity and potentially fraudulent transactions, ensuring compliance with applicable laws and security standards.
Quantifiable outcome
- Eliminates chargeback costs - American merchants expected to pay over $100 billion in chargebacks annually
- +1 more outcomes
Companies that use FirstPayment
Customer profileSegments5 records
Ideal customer profiles3 records
FirstPayment technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature4 records
FirstPayment partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Anywhere CommercecoreAnywhere Commerce is listed as a strategic partner of FirstPayment, providing blockchain payment technology integration for merchant services.
- Liquidity PartnerscoreFirstPayment relies on cryptocurrency liquidity partners to support various cryptocurrencies for payment processing. The company supports cryptocurrencies designated by these partners that are not specifically regulated or forbidden by regulatory authorities.
- Partner BankscoreFirstPayment uses partner banks to facilitate ACH deposits for merchant settlements. Settlements are made via direct ACH transfers from partner banking institutions.
Scale indicators2 records
Recent moves6 records
Expansion highlights5 records
FirstPayment competitors and assessment
Company assessmentDirect peers
- BitPay: One of the longest-standing crypto payment processors, BitPay enables merchants to accept Bitcoin and stablecoins with fiat settlement, operating a global merchant services business structurally similar to FirstPayment.
- Coinbase Commerce: Coinbase's merchant-facing crypto payment processor enables online merchants to accept Bitcoin, Ethereum, and stablecoins with settlement in fiat or crypto, directly competing with FirstPayment's YuzuPay in the same target merchant segments.
- BTCPay Server: Open-source self-hosted Bitcoin payment processor supporting Lightning Network integration; comparable to FirstPayment in target merchant use cases (in-store and eCommerce) and Lightning-based settlement.
- NOWPayments: Crypto payment gateway focused on eCommerce merchants, providing instant crypto-to-fiat conversion similar to YuzuPay; comparable in target customer (online retailers) and pricing model.
- Binance Pay: Binance Pay enables merchants to accept cryptocurrency payments with conversion options; targets global merchants similar to FirstPayment and competes in cross-border commerce.
- Crypto.com Pay: Crypto.com's merchant payment service enables crypto acceptance with fiat settlement and offers consumer rewards, competing head-on with FirstPayment for crypto-accepting merchants and partner integrations.
Broad incumbents
- Block (Square): Block's Cash App and Bitcoin initiatives position it as a broad incumbent in merchant and consumer crypto payments, offering similar functions (crypto acceptance, conversion) alongside a much larger payments portfolio.
- Stripe: Stripe's recent expansion into stablecoin and crypto payment acceptance for online merchants competes with FirstPayment for the same SMB and eCommerce customer base; deep developer ecosystem gives Stripe a major distribution edge.
Emerging players
- Strike: Strike builds Lightning Network-native payment rails for merchants and consumers; an emerging direct competitor on speed and cost, addressing the same pain points FirstPayment targets with Lightning.
- Flexa: Flexa operates a digital-asset payments network enabling merchants to accept crypto at point of sale; comparable mission in removing volatility risk and reducing merchant payment costs.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
FirstPayment social profiles
Digital presenceFirstPayment financial estimates
Financial estimateRevenue estimate
Valuation estimate
FirstPayment leadership team
Management profileNumber of profiles
Profiles2 records
FirstPayment funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
FirstPayment 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 FirstPayment
What does FirstPayment do?
FirstPayment is a cryptocurrency payment processing platform that enables merchants to accept crypto payments (Bitcoin, Ethereum, and others) and receive fiat currency settlements. Its core offering automatically converts cryptocurrency to US dollars in real-time, eliminating volatility risk, and settles funds to merchant bank accounts via ACH deposits.
Is FirstPayment a public or private company?
FirstPayment is a private company. It is classified as corporate owned and is currently operating.
When was FirstPayment founded?
FirstPayment was founded in 2022. It employs 11 to 50 people.
Where is FirstPayment based?
FirstPayment is headquartered in Toronto, Canada, in the North America region.
How does FirstPayment make money?
Three revenue lines are on record. Transaction Processing Fees are the primary driver. The others are ACH Settlement Fees and KYB/KYC Verification Fees.
Who are FirstPayment's main competitors?
Direct peers on record are BitPay, Coinbase Commerce, BTCPay Server, NOWPayments, Binance Pay and Crypto.com Pay. Broad incumbents are Block (Square) and Stripe. Emerging players are Strike and Flexa.
Does FirstPayment have an API?
Yes. FirstPayment offers APIs and integration methods through its platform. The Merchant Agreement references 'application programming interfaces ("APIs")' as part of the Services. The company states it may release updates to the API or developer framework, requiring merchants to promptly update to the latest version. The Terms of Use state FirstPayment is a cryptocurrency payment processor that facilitates acceptance of payments. API updates and modifications may be issued at Company's sole discretion.
What industry is FirstPayment in?
FirstPayment's product category is Cryptocurrency Payment Processing. Its primary akta.pro industry code is FSADAIAB, Crypto Merchant Acquirers & PSPs (Payment Service Providers), with a secondary code of BPAMAFAL, Crypto Payments & Stablecoin Settlement Platforms. Its NAICS code is 52232 and its SIC code is 6200.