Storepay
Storepay is a Singapore-headquartered fintech operating a Buy Now, Pay Later (BNPL) platform across Singapore, Mongolia, Indonesia, and Vietnam, serving 500K+ consumers and 8,000+ merchants with interest-free 4-installment payments and the SPCFIN crypto rewards token.
- Company typePrivate
- Founded2019
- HeadquartersSingapore, Singapore
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What Storepay does
Storepay is a Singapore-headquartered fintech that operates a Buy Now, Pay Later (BNPL) platform serving consumers and SME merchants across Singapore, Mongolia, Indonesia, and Vietnam. Founded in 2019 in Mongolia and now operating through its holding entity Storepay Holding PTE, LTD, the company enables consumers to pay in four interest-free installments over 45 days via in-store QR codes and online checkout, with over 500,000 active users, 8,000+ merchant partners, and $420M+ in cumulative purchase volume since inception. The platform operates through three wholly-owned subsidiaries including a licensed Non-Bank Financial Institution (Storepay NBFI LLC) in Mongolia.
The platform's core technology includes a mobile-first app with real-time identity verification (liveness check), QR code payment infrastructure, and the SPCFIN native utility token built on Binance Smart Chain (BEP-20) with a transaction-based burn mechanism. The merchant-facing system provides sales analytics, settlements, and a distinctive sales-based business financing product offering unsecured loans underwritten on the merchant's Storepay sales history. The platform holds ISO/IEC 27001 certification and has completed a CertiK smart contract audit for SPCFIN.
Storepay generates revenue primarily through transaction commissions charged to merchants on successful BNPL purchases, supplemented by interest income from merchant business financing and value capture from SPCFIN token ecosystem activity. The company employs a hybrid go-to-market combining product-led consumer acquisition (mobile app self-serve) with field sales for SME merchant onboarding. Storepay was ranked #2 in the FT-Statista High-Growth Companies Asia-Pacific 2026 with 1,722% revenue growth between 2021 and 2024.
Storepay firmographics
Firmographics- Name
- Storepay
- Legal name
- Storepay Holding PTE, LTD
- Website
- https://storepay.global
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Storepay is a Singapore-headquartered fintech operating a Buy Now, Pay Later (BNPL) platform across Singapore, Mongolia, Indonesia, and Vietnam, serving 500K+ consumers and 8,000+ merchants with interest-free 4-installment payments and the SPCFIN crypto rewards token.
- Ownership category
- akta.pro rank
Storepay industry classification
Industry- Product category
- Buy Now Pay Later
- NAICS
- Sales Financing (52222)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Third-Party POS Installment Financing Platforms (FSAKAFAB)
- akta.pro secondary industries
- Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA), Omnichannel POS Financing (Unified Online + In-Store) (FSAKAFAE)
Keywords
Where Storepay is headquartered
LocationHeadquarters
- HQ city
- Singapore
- HQ country
- Singapore
- HQ region
- Asia
Offices4 records
Markets served
Storepay business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Transaction Commission (Merchants): Storepay charges merchants commission only on successful purchases. No extra fees or hidden costs. This is the primary revenue stream from the merchant side.
- SPCFIN Token Economy: SPCFIN token burn mechanism creates value by reducing supply in line with real platform usage. Token distribution and market activity generate economic activity within the ecosystem.
- Business Financing Interest: Storepay offers sales-based financing to merchants, providing unsecured business loans based on Storepay sales data. Interest income from these loans is a revenue stream.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Consumer BNPL - 4 installments over 45 days |
| Transaction based/ take rate | Pay-as-you-go | Merchant Commission |
| Usage-based | Pay-as-you-go | SPCFIN Token Benefits |
Go-to-market motion3 records
Distribution channels3 records
Marketing channels4 records
Storepay product offering
Product offeringCore offering
Storepay operates a mobile-first Buy Now, Pay Later platform that lets consumers split purchases into four interest-free installments over 45 days, available both in-store via QR code scanning and online. It also operates the SPCFIN BEP-20 utility token on Binance Smart Chain, which rewards platform usage through a transaction-based burn mechanism and unlocks higher purchase limits and longer terms. The merchant-facing layer adds sales analytics, settlements, and sales-based unsecured business financing for SMEs.
Product overview
Storepay operates as a unified BNPL fintech platform offering two interconnected core products: the Storepay BNPL service enabling consumers to pay in 4 interest-free installments over 45 days (in-store via QR and online), and the SPCFIN native utility token that rewards user activity and unlocks enhanced benefits such as increased purchase limits and access to overseas merchants. The platform also includes a merchant-facing system with sales analytics, reporting, settlement management, and sales-based business financing.
Differentiator
Problem solved
Functional benefit
Brands
- SPCFIN: Storepay's native utility token designed for real use within the Storepay ecosystem, providing value-based rewards and tokenomics benefits to users and merchants.
Products and services
- Storepay BNPL Platform Storepay's mobile-first Buy Now, Pay Later platform that lets consumers split purchases into 4 equal, interest-free installments over 45 days with no hidden fees, available via QR code scanning in-store and online checkout. Targets individual consumers in Singapore, Mongolia, Indonesia, and Vietnam seeking flexible, transparent short-term financing.
- SPCFIN Utility Token SPCFIN is Storepay's native BEP-20 utility token on Binance Smart Chain that serves as a value-based rewards mechanism earned through platform usage. Includes a transaction-based burn mechanism, supply-demand alignment, and holding-based benefits such as improved purchase limits and access to overseas merchants.
- Merchant System with Sales-Based Financing A merchant dashboard providing sales management, reports, settlements, and branch data, combined with sales-based unsecured business financing underwritten on Storepay transaction history. Targets SME merchants seeking digital payment infrastructure and working capital access.
Quantifiable outcome
- 37% average sales growth for merchants using Storepay
- +3 more outcomes
Companies that use Storepay
Customer profileSegments2 records
Ideal customer profiles2 records
Storepay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Storepay partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Alibaba 1688 (via ShoppyHub)coreStorepay board member Mendbayar Tseveen, CEO of Intelmind LLC, forged the ShoppyHub partnership with Alibaba's 1688 platform. This partnership connects Mongolian and regional merchants to Alibaba's wholesale marketplace, enabling cross-border e-commerce capabilities.
- CertiKcoreCertiK provides security auditing services for the SPCFIN token smart contract. The audit was completed to ensure security and reliability of the BSC BEP-20 token implementation.
- Digital Asset ExchangesminorSPCFIN token is accessible through supported digital asset exchanges where it is listed, providing additional accessibility for users to obtain tokens.
- Merchant PartnerscoreOver 8,000 merchant partners use Storepay's payment and financing solutions. Merchants offer Storepay's BNPL option at checkout, earning commission-free access to flexible payment infrastructure that increases sales.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
Storepay competitors and assessment
Company assessmentDirect peers
- Atome: Atome is a leading BNPL platform operating across Southeast Asia (Singapore, Indonesia, Malaysia, Vietnam, Philippines) with the same interest-free installment model. Directly comparable to Storepay in target geography, customer base, and core product offering.
- Akulaku: Akulaku is a SE Asia-focused BNPL and digital finance platform, with strong presence in Indonesia, Vietnam, and the Philippines. Overlaps with Storepay on installment financing for retail purchases in the same regional markets.
- Atome (Singapore HQ): Singapore-headquartered BNPL platform with deep merchant integrations and consumer adoption in SE Asia. Direct competitor to Storepay for both consumer and merchant relationships in Singapore and the region.
- Kredivo: Kredivo is an Indonesia-headquartered BNPL and digital credit platform offering pay-later and cash loans. Comparable to Storepay on BNPL product mechanics, target customer, and Indonesian market presence.
- BillEase: BillEase is a Philippines-based BNPL provider offering interest-free installments online and offline. Comparable in offering pay-in-installments for retail purchases in a SE Asia emerging market.
- Hoolah: Hoolah is an Asian BNPL fintech offering interest-free pay-in-3 installments at online and in-store merchants. Closely comparable to Storepay's BNPL mechanic across SE Asia merchants.
Regional players
- Timo: Timo is a Vietnam-focused digital banking and consumer finance platform. Regional peer that overlaps with Storepay's Vietnam operations in offering consumer credit and digital payment products, though with a different delivery model.
Broad incumbents
- Shopee PayLater: Shopee PayLater (SPayLater) is the BNPL offering within Shopee's marketplace, dominant in Indonesia, Vietnam, and the broader region. Competes for both consumer wallet share and merchant financing relationships that Storepay targets.
- Grab PayLater: Grab PayLater is the BNPL offering within Grab's super-app ecosystem across SE Asia, providing pay-in-installments alongside ride-hailing, food, and financial services. Competes with Storepay for BNPL share but benefits from a much broader ecosystem.
- Klarna: Klarna is the global BNPL incumbent operating pay-in-4 installments across dozens of markets. Although not focused on SE Asia, it represents the dominant global BNPL business model that Storepay's product mirrors.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Storepay social profiles
Digital presenceStorepay compliance and trust
Trust signalCompliance2 records
Storepay financial estimates
Financial estimateRevenue estimate
Valuation estimate
Storepay leadership team
Management profileNumber of profiles
Profiles9 records
Storepay subsidiaries and ownership
Company hierarchySubsidiaries4 records
Storepay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Storepay 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 Storepay
What does Storepay do?
Storepay operates a mobile-first Buy Now, Pay Later platform that lets consumers split purchases into four interest-free installments over 45 days, available both in-store via QR code scanning and online. It also operates the SPCFIN BEP-20 utility token on Binance Smart Chain, which rewards platform usage through a transaction-based burn mechanism and unlocks higher purchase limits and longer terms. The merchant-facing layer adds sales analytics, settlements, and sales-based unsecured business financing for SMEs.
Is Storepay a public or private company?
Storepay is a private company. It is classified as venture growth investor backed and is currently operating.
When was Storepay founded?
Storepay was founded in 2019. It employs 11 to 50 people.
Where is Storepay based?
Storepay is headquartered in Singapore, Singapore, in the Asia region.
How does Storepay make money?
Three revenue lines are on record. Transaction Commission (Merchants) is the primary driver. The others are SPCFIN Token Economy and business Financing Interest.
Who are Storepay's main competitors?
Direct peers on record are Atome, Akulaku, Atome (Singapore HQ), Kredivo, BillEase and Hoolah. Timo is listed as a regional player. Broad incumbents are Shopee PayLater, Grab PayLater and Klarna.
Does Storepay have an API?
No public API is recorded for Storepay.
What industry is Storepay in?
Storepay's product category is Buy Now Pay Later. Its primary akta.pro industry code is FSAKAFAB, Third-Party POS Installment Financing Platforms, with a secondary code of FSAGAIAA, Merchant-Integrated BNPL (Checkout POS Financing). Its NAICS code is 52222 and its SIC code is 6141.