Axepay

What Axepay does

Axepay Inc. is a Canada-incorporated (founded 2017) cloud-based financial technology company that operates an API-first cross-border payments and remittance platform, with a distinctive specialization in enabling payments to and from China through the UnionPay network and other regional financial rails. Its core platform, VirtualPay, supports Ecommerce, EPOS, and B2B payment processing for domestic and international corporate accounts, and is supplemented by specialized modules including Cross-Border RMB Payment Solutions, Prepaid Card Services in multiple currencies, Currency Exchange with FX risk management tools (Forward Contracts, Rate Orders), and KYC/AML solutions that perform real-time China Citizen ID verification. The technology stack includes a patented DNA (Digital Authorization) mobile payment system that separates bankcard data and PIN across different transmission networks for fraud reduction, an automated FX engine covering 30+ currencies, and API/sandbox infrastructure supporting one-time, recurring and batch payments.

Name

Axepay

Legal name

Axepay Inc.

Website

https://axepay.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Axepay Inc. is a Canada-based fintech operating an API-first cross-border payments platform focused on enabling B2B, B2C and P2P transactions to and from China via UnionPay, with patented DNA mobile payment technology and FX rails spanning 30+ currencies and 200+ countries.

Ownership category

akta.pro rank

Product category

Cross-Border Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Cross-Border & FX Payments Platforms (BPAMAFAK)

akta.pro secondary industries

Cross-Border A2A & Bank Transfer Networks (FSAMAIAF), Cross-border Payments & FX for E-commerce (CRAFALAF)

Keywords

• Cross-border payments
• FX currency exchange
• Remittance services
• Payment infrastructure
• Merchant processing

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Cross-Border Payment Processing: Transaction-based fees for cross-border RMB payments including B2B, B2C, and P2P service models across outbound (Mainland to International) and inbound (International to Mainland) payment flows.
2. FX and Currency Exchange Services: Revenue from currency exchange spreads on FX transactions across 30+ currencies with real-time automated quotes. Includes forward contracts and rate orders for risk management.
3. Prepaid Card Services: Vendor relations and card issuance services for prepaid cards in specific currencies including Visa, Mastercard, China UnionPay, and JCB schemes for payroll, affiliates, payouts, and travel use cases.
4. API and Sandbox Access: Partner and Merchant API access with sandbox environment for integration and testing, enabling businesses to embed Axepay's payment solutions into their platforms.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels3 records

Core offering

Axepay provides a cloud-based, API-first cross-border payments and remittance platform branded VirtualPay, enabling merchants, financial institutions, and individuals to send and receive payments across 200+ countries in 30+ currencies. The platform supports automated FX quotes and trades, multiple payment rails (RTP, ACH, WIRE, Card2Card, Card Issuing), prepaid card issuance in major schemes, and China-focused solutions including UnionPay acceptance and real-time KYC verification for Chinese Citizen IDs.

Product overview

Axepay is a cloud-based financial technology platform offering cross-border payment and remittance services through a modular architecture. The core platform, VirtualPay, provides Ecommerce, EPOS, and B2B payment processing. The platform integrates specialized modules including Cross-Border RMB Payment Solutions, Prepaid Card Services, Currency Exchange Services with FX risk management tools (Forward Contracts, Rate Orders), KYC/AML Solutions with real-time Chinese Citizen ID verification, and multiple payment method modules (DNA Mobile Payment, Mobile App Payment, Internet Payment, E-Payment & E-Debit Payment). The China-focused Virtual Pay solution enables merchants to accept payments from Chinese consumers via UnionPay. The platform operates via Partner and Merchant APIs with multi-currency sandbox access, supporting payments in over 30 currencies across 200 countries and territories.

Differentiator

Problem solved

Functional benefit

Products and services

• VirtualPay Cross-Border Payment Platform Core payment platform providing Ecommerce, EPOS, and B2B payment processing for domestic and international corporate accounts, supporting B2B, B2C, and P2P service models with access to RTP, ACH, WIRE, Card2Card, and Card Issuing rails across 200+ countries.
• Prepaid Card Services International multi-currency prepaid card services issued through partnerships with Visa, Mastercard, China UnionPay, and JCB for payroll, affiliate payouts, travel, and one-time or recurring payments in specific currencies.
• Currency Exchange Services Global Markets FX access in over 200 countries including China with a real-time automated quotes and trades system, offering Forward Contracts, Rate Orders, Spot Transactions, and outgoing multi-currency disbursement solutions.
• Cross-Border RMB Payment Solutions RMB cross-border payment solutions for goods and services covering five transaction types: B2B outbound, Active C2B outbound, Passive C2B outbound, B2B inbound, and B2C inbound, with Dynamic Currency Conversion and customs compliance.
• Partner and Merchant API with Sandbox Partner and Merchant APIs with a multi-currency sandbox environment supporting 1-time payments, recurring payments, and batch payments, enabling integration of international payments, automated FX trades, and settlement into partner systems.

Quantifiable outcome

• Access to over 800 million customers in China through UnionPay network
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability5 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core.

• Global Card Issuers (Visa, Mastercard, China UnionPay, JCB)coreTechnology or IntegrationAxepay has partnerships with card issuers globally to provide prepaid cards in specific currencies. Supported card schemes include Visa, Mastercard, China UnionPay, and JCB for use cases including payroll, affiliate payouts, and travel cards.
• Partner Banks, Financial Institutions, FX Companies, and Payment ProviderscoreTechnology or IntegrationAxepay delivers financial services through partnerships with banks, financial institutions, FX companies, and payment providers around the world, creating a global financial services and payments infrastructure.
• China Telecom CarrierscoreTechnology or IntegrationCoverage of all China telecom carriers for mobile payment and recharge services, enabling Axepay to offer comprehensive mobile payment solutions for China market.
• China UnionPaycoreTechnology or IntegrationIntegration with UnionPay network covering all UnionPay debit and credit cards, one of the world's leading payment card brands, enabling access to 800+ million customers in China.
• 16 National Banks and Regional Banks (China)coreTechnology or IntegrationPartnership with 16 National and Regional Banks in China for bank card verification and cross-border payment settlement services including verification of China ID Card, name, bank card number with registered bank information.
• Banks, Credit Unions, Telecom, Enterprise and MSB PartnerscoreChannel Partner/ Reseller/ DistributorPartner program for large volume partners with existing customers. Partners can offer integrated global payment solutions with automated FX trades and settlement, targeting Banks, Credit Unions, Telecom, Enterprise and Money Service Businesses.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Remitly: Remitly is a digital remittance platform focused on cross-border consumer money transfers, with significant corridor coverage into Asia. It overlaps with Axepay's P2P and B2C cross-border remittance use cases.
• Airwallex: Airwallex is an API-first cross-border payments and FX platform serving businesses globally with multi-currency accounts and payment acceptance. It is a direct competitor to Axepay in providing embedded cross-border payment infrastructure via APIs to merchants and partners.
• dLocal: dLocal is a cross-border payment processor specializing in emerging markets, offering local payment methods and FX. It competes with Axepay for merchants needing cross-border emerging market and Asia payment acceptance.
• WorldFirst: WorldFirst (owned by Ant Group) is a cross-border B2B payment and FX platform with deep China merchant collection capabilities. It is a direct competitor to Axepay in cross-border RMB settlement and B2B FX.
• OFX: OFX is a cross-border payments and FX provider serving businesses and individuals with multi-currency transfers. It overlaps with Axepay's B2B cross-border FX and currency exchange services.
• Currencycloud: Currencycloud (Visa-owned) provides an API-based cross-border payments and FX infrastructure for platforms and banks. It is a direct competitor in the FX-as-a-service and cross-border API space Axepay targets with its Partner API.
• Wise (TransferWise): Wise operates a global cross-border money movement and FX platform for consumers and businesses, offering multi-currency accounts and transparent FX pricing. It directly competes with Axepay in cross-border B2B and consumer remittance corridors, particularly in FX-intensive flows.
• LianLian Global: LianLian Global is a China-licensed cross-border payment platform serving e-commerce merchants with multi-currency collection, FX, and RMB payout. It is one of the closest direct competitors to Axepay in the cross-border RMB settlement space.
• PingPong Payments: PingPong is a China-headquartered cross-border payment processor focused on e-commerce merchants transacting with Chinese suppliers and consumers. It overlaps directly with Axepay's cross-border RMB and UnionPay merchant settlement offering.

Emerging players

• Veem: Veem is a B2B cross-border payment network using blockchain-backed rails for international business payments. It overlaps with Axepay's B2B cross-border payment use case, particularly for SMBs seeking alternatives to wire transfers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/axepay
• Facebookfacebook.com/profile.php?id=100064161789485
• LinkedInlinkedin.com/company/axepay
• Instagraminstagram.com/axepay_crossborder?igshid=MzRlODBiNWFlZA==

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Axepay