Ramad Pay

What Ramad Pay does

Ramad Pay Inc. is a Minneapolis-based money services business that operates an international remittance platform connecting US senders to recipients in 120+ countries across Africa, the Americas, APAC, Europe, and the GCC. Founded in 2001 and rebranded under new leadership in 2023, the company is registered with FinCEN as an MSB and holds money transmitter licenses in 15+ US states (NMLS ID 1139908). Its product surface centers on the Ramad Pay mobile app (iOS and Android), an SMS-based Text2Pay service that does not require a smartphone or internet, and a network of 120+ agents across immigrant communities in the US who provide in-person service. The platform integrates directly with major African mobile money operators — M-Pesa, MTN, Airtel, and iPay — enabling near-instant wallet payouts to recipients in destination countries.

Name

Ramad Pay

Legal name

Ramad Pay Inc.

Website

https://ramadpay.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Ramad Pay Inc. is a Minneapolis-based, FinCEN-registered money services business that operates a mobile-first international remittance platform serving US immigrant communities, with payouts to 120+ countries via 120+ US agents, mobile money integrations, and an SMS-based Text2Pay service.

Ownership category

akta.pro rank

Product category

Cross-Border Remittance Services

SIC

Finance Services (6199), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

International Bill Pay & Cross-Border Airtime/Top-Up (FSAGAKAM)

akta.pro secondary industries

Carrier Billing & Telco Mobile Money (FSAMAEAD), Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC)

Keywords

• International money transfers
• Remittance services
• Cross-border payments
• Mobile money transfers
• Digital wallet services

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. P2P Remittance Services: Transaction-based fees charged to customers sending money internationally. Revenue generated per transaction with competitive exchange rate spreads. Primary revenue stream serving US immigrant communities sending funds to Africa, Americas, APAC, Europe, and GCC countries.
2. B2B Digital Payment Solutions: Fee-based services for businesses including international supplier/vendor payments, global payroll processing, and currency hedging solutions. Revenue from transaction fees and service charges for cross-border business payments.
3. NGO Remittance Services: Specialized remittance services for non-governmental organizations providing humanitarian aid, enabling direct fund transfers to NGO partners in developing regions.
4. Agent Network Commissions: Agent network generates revenue through commission structures. Agents earn commissions on transactions processed through their locations, creating a distribution revenue sharing model.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Ramad Pay is a licensed US-based Money Services Business that delivers international remittance and digital payment services from the United States to recipients in 120+ countries. The company operates a mobile-first platform (Ramad Pay App), an SMS-based Text2Pay service, and a 120+ US agent network that together enable P2P money transfers, B2B cross-border payments, NGO humanitarian remittances, and integration with global mobile money operators such as M-Pesa, MTN, Airtel, and iPay.

Product overview

Ramad Pay is a money transfer platform offering a unified ecosystem of financial services. The core offering is the Ramad Pay App for mobile-based P2P remittances, supported by Text2Pay for SMS-initiated transfers and an extensive Agent Network Program across the US. The platform includes specialized modules for NGO remittances, B2B digital payments (with an open SDK for fintech integration), Global Payment Solutions for businesses, an FX Calculator for rate estimation, and a Customized App with virtual checking account through partner Aziz Capital. The portfolio connects senders in the US to recipients in 120+ countries via mobile money operators, banks, and agent cash pickups.

Differentiator

Problem solved

Functional benefit

Brands

• Text2Pay: A service that allows users to send money via text message, providing a convenient alternative to app-based transfers.
• FastTrack Remittance Package

Quantifiable outcome

• Processed over $2 billion USD in transactions since 2001
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability1 record

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• iPaycoreTechnology or IntegrationFintech partnership enabling integration with iPay's payment infrastructure to enhance digital payment capabilities across East African markets.
• M-PesacoreTechnology or IntegrationIntegration with M-Pesa mobile money ecosystem allowing secure cross-border money transfers to M-Pesa wallets in East Africa. CTO Ali Mohammed has extensive experience integrating M-Pesa with global banking networks.
• MTNcoreTechnology or IntegrationPartnership with MTN mobile operator to enable mobile money transfers and expand reach into MTN's extensive African subscriber base.
• AirtelcoreTechnology or IntegrationCollaboration with Airtel for mobile money integration, enabling Ramad Pay customers to transfer funds to Airtel Money wallets across supported countries.
• Global Payment AggregatorscoreTechnology or IntegrationPartnerships with leading global payment aggregators enabling expansion of cross-border reach by connecting to platforms with millions of users worldwide. Allows instant fund transfers to recipients with accounts on these platforms across 200+ markets.
• Aziz CapitalcoreStrategic or Co-development PartnerPartnership with Aziz Capital to provide interest-free customized debit cards with virtual checking accounts, enabling seamless financial services integration.
• NGOs and Non-profit OrganizationscoreStrategic or Co-development PartnerPartnerships with non-governmental organizations to provide remittance services for humanitarian efforts, enabling direct fund transfers to aid recipients in developing regions. Aligns with UN Sustainable Development Goals for financial inclusion.
• E-commerce PlatformsminorChannel Partner/ Reseller/ DistributorPartnerships with e-commerce platforms enabling merchants accepting payment networks to easily integrate Ramad Pay's cross-border payment services.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Remitly: Leading US-headquartered digital remittance platform serving immigrant corridors including Africa; competes head-to-head with Ramad Pay's mobile app for the same diaspora senders.
• WorldRemit: Global digital remittance company with strong mobile money payout coverage across Africa, directly overlapping Ramad Pay's payout network and immigrant customer segments.
• Taptap Send: App-first remittance startup targeting African and other diaspora corridors from the US with zero-fee promotions; competes for the same US-to-Africa customer base.
• Sendwave: Mobile remittance app focused on US-to-Africa corridors, particularly East and West Africa; direct competitor in Ramad Pay's core markets.

Broad incumbents

• Western Union: Largest global remittance incumbent with both agent network and digital channels serving Africa; competes across the entire addressable market that Ramad Pay targets.
• MoneyGram: Established money transfer operator with extensive US agent network and digital platform, serving similar US-to-Africa corridors as Ramad Pay.
• Wise (TransferWise): Global cross-border payments specialist offering mid-market FX and remittance; broader geographic footprint but overlapping in the US-to-Africa and global transfer use cases.
• Xoom (PayPal): PayPal-owned digital remittance service competing for the same US-based diaspora senders across many of the same corridors.

Emerging players

• Wave: Mobile-first remittance and mobile money platform with deep presence in Senegal and West Africa; emerging player intersecting with Ramad Pay's West and East African corridors.
• LemFi: Canada- and UK-based digital remittance app targeting African diaspora; overlapping customer base (immigrants sending to Africa) from a different send geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/PayRamad23905
• Facebookfacebook.com/RamadPay
• LinkedInlinkedin.com/company/ramadpay

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Ramad Pay