Orbit Money
Orbit Money is a Canadian Money Services Business operating 13 retail branches across Canada, providing currency exchange across 60+ currencies and international money transfers to 180+ countries for individual consumers, diaspora communities, and small businesses.
- Company typePrivate
- Founded-
- HeadquartersMississauga, Canada
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Orbit Money does
Orbit Money Inc. is a Canadian Money Services Business (MSB) registered with FINTRAC (registration number M20017622) that provides retail currency exchange and international money transfer services. The company is headquartered in Mississauga, Ontario, and operates 13 physical branch locations across Canada concentrated in Ontario, with additional presence in Quebec and a recently opened branch in Surrey, British Columbia. Its core offerings include cash currency exchange across 60+ currencies and international money transfers to 180+ countries, with delivery options spanning bank deposits, mobile wallets (UPI/IMPS for India), and cash pickup at partner agent locations worldwide through a MoneyGram partnership that extends reach to 430,000+ agent locations across 200 countries.
Orbit Money's underlying technology stack is a non-bank MSB architecture that relies on third-party banks, payment service providers (including Rails), settlement partners, and identity verification vendors rather than proprietary financial infrastructure. Customer-facing technology includes a website, wallet system, marketplace, and mobile applications for self-directed transactions, with security provided via SSL encryption, two-factor authentication, and biometric/face-data KYC verification. The company operates a free Bank Code Validation Tool supporting SWIFT/BIC, IBAN, US routing, and Canadian transit numbers, and offers real-time rate updates throughout the business day. Its go-to-market is direct-to-consumer, anchored by physical branches with no minimum transaction amounts and a rate-matching guarantee against licensed competitors, supported by multilingual staff (Hindi, Punjabi) and a content marketing strategy targeting location-specific SEO queries.
The revenue model is transaction-based, with primary earnings from currency exchange spreads of 0.5%-1.5% (versus 2.5%-4% at major Canadian banks) and flat-rate international wire transfer fees that undercut the $25-$45 charged by banks. The company serves individual consumers, diaspora communities (with particular emphasis on India-bound remittances), diplomats and government professionals, international students, mid-market professionals, and Metro Vancouver business customers. Pricing includes automatic volume-based discounts for larger transactions and relationship-based loyalty pricing for regular customers, with all pricing executed on a pay-as-you-go basis.
Orbit Money firmographics
Firmographics- Name
- Orbit Money
- Legal name
- Orbit Money Inc.
- Website
- https://orbitmoney.com
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Orbit Money is a Canadian Money Services Business operating 13 retail branches across Canada, providing currency exchange across 60+ currencies and international money transfers to 180+ countries for individual consumers, diaspora communities, and small businesses.
- Ownership category
- akta.pro rank
Orbit Money industry classification
Industry- Product category
- Currency Exchange and International Money Transfer Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- akta.pro primary industry
- Cross-Border Payments & FX (multi-currency wallets, DCC, remittance) (THALAHAE)
- akta.pro secondary industries
- Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ), SME & Business Cross-Border Payments (B2B) (FSAMAIAB)
Keywords
Where Orbit Money is headquartered
LocationHeadquarters
- HQ city
- Mississauga
- HQ country
- Canada
- HQ region
- North America
Offices13 records
Markets served
Orbit Money business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Currency Exchange Spread Revenue: Orbit Money's primary revenue is generated through the spread between the mid-market exchange rate and the rate offered to customers. The company buys currency at the interbank rate and sells to customers at a markup, typically offering 0.5%–1.5% spreads compared to 2.5%–4% at major Canadian banks. This is the core revenue driver across all retail branches and digital channels.
- International Money Transfer Fees: Fees charged for international wire transfers and money transfers to global destinations. For outgoing wires, banks typically charge $25–$45 while Orbit Money charges a competitive flat rate. Incoming wire fees are often waived. Intermediary bank fees are handled through transparent routing. Transfers to India and 180+ countries are supported with various delivery methods including bank deposit, cash pickup, UPI/IMPS, and mobile wallet.
- MoneyGram Partnership Revenue Share: Orbit Money facilitates money transfers through its MoneyGram partnership, gaining access to over 430,000 agent locations across 200 countries. Revenue is generated through transaction fees and favorable exchange rate spreads on MoneyGram transfers originated at Orbit Money branches.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Cash Currency Exchange |
| Transaction based/ take rate | Pay-as-you-go | International Wire Transfers |
| Unit Pricing | Pay-as-you-go | Volume-Based Pricing (Larger Transactions) |
| Unit Pricing | Pay-as-you-go | Relationship / Loyalty Pricing |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
Orbit Money product offering
Product offeringCore offering
Orbit Money is a Canadian Money Services Business that provides retail currency exchange across 60+ currencies and international money transfer services to 180+ countries, delivered through 13 physical branches across Canada plus digital channels. Revenue is earned primarily through the spread between the interbank rate and the customer rate (0.5%–1.5% versus 2.5%–4% at banks) and flat international wire fees ($0–$20 versus $25–$45 at banks). Delivery options include direct bank deposit, UPI/IMPS and mobile wallet transfers (notably to India), and cash pickup via the MoneyGram global agent network.
Product overview
Orbit Money is a Canadian money services business offering currency exchange and international money transfer services through a network of 13 physical branch locations across Canada. The core product portfolio consists of currency exchange (cash conversions at competitive rates for 60+ currencies), international money transfers (to 180+ countries via bank deposit, cash pickup, UPI/IMPS, and mobile wallet), and a free Bank Code Validator tool for validating SWIFT/BIC, IBAN, US routing, and Canadian transit numbers. The company differentiates through real-time pricing, rate matching guarantees, zero hidden fees on cash exchanges, and partnerships with MoneyGram for global cash pickup coverage and Rails for payment processing infrastructure.
Differentiator
Problem solved
Functional benefit
Products and services
- Currency Exchange In-person currency exchange service for individuals and businesses offering competitive rates across 60+ currencies including USD, CAD, EUR, GBP, and INR. Services are available at 13 physical branches across Canada with real-time rate pricing, rate matching guarantees against licensed competitors, and no minimum transaction amounts for walk-in cash exchanges.
- International Money Transfers International wire transfer service enabling customers to send funds to over 180 countries with competitive flat fees ($0–$20 versus $25–$45 at banks). Multiple delivery methods are supported including direct bank deposit, cash pickup at MoneyGram agent locations globally, UPI/IMPS transfers to India, and mobile wallet delivery.
- Bank Code Validator Free online self-service validation tool for SWIFT/BIC codes, IBAN numbers, US routing numbers (ABA), and Canadian transit numbers. Provides real-time validation to prevent errors before international and domestic transfers are initiated.
- Local Payments (Domestic Transfers) Domestic money transfer service enabling customers to send funds to any recipient's bank account quickly and securely within Canada, including transfers between Orbit Money branch locations.
Quantifiable outcome
- Customers save $50–$200 per USD/CAD exchange compared to banks, with dedicated exchange services typically offering 0.5%–1.5% spreads vs. 2.5%–4% at banks
- +5 more outcomes
Companies that use Orbit Money
Customer profileNamed customers4 records
Segments6 records
Ideal customer profiles4 records
Orbit Money technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature4 records
Orbit Money partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- MoneyGramcoreOrbit Money has a strategic partnership with MoneyGram, a global money transfer operator. Through this partnership, Orbit Money customers can send money to over 430,000 agent locations across 200 countries via MoneyGram's global cash pickup network. This extends Orbit Money's delivery reach far beyond its own 13 Canadian branches, making it particularly valuable for diaspora remittance services to destinations where Orbit Money does not have physical presence.
Scale indicators8 records
Recent moves8 records
Expansion highlights6 records
Orbit Money competitors and assessment
Company assessmentBroad incumbents
- Western Union: Western Union is a global incumbent in cross-border money transfers with hundreds of thousands of agent locations worldwide. A broad incumbent that overlaps with Orbit Money's remittance product but operates at vastly greater scale and breadth.
- MoneyGram: MoneyGram is a global money transfer operator with 430,000+ agent locations across 200 countries. Both an Orbit Money channel partner and a broader competitor offering similar remittance and currency exchange services worldwide.
Direct peers
- Continental Currency Exchange: Continental Currency Exchange is a Canadian FINTRAC-registered MSB operating physical branches offering currency exchange and money transfer services. Direct competitor in the same Canadian retail FX and remittance category.
- Remitly: Remitly is a digital-first international remittance provider targeting diaspora customers in North America and Europe with transfers to 170+ countries. Closely comparable to Orbit Money's customer segment (especially Indian diaspora) and core product offering.
- Wise: Wise (formerly TransferWise) is a global digital remittance and currency exchange platform serving individuals and businesses with multi-currency transfers at mid-market rates. Direct overlap with Orbit Money's core remittance and FX offering, though pure-digital rather than branch-based.
- Calforex Currency Exchange: Calforex is a Canadian retail currency exchange chain with multiple branches across Canada. Operates a directly comparable physical-branch FX model targeting Canadian consumers with competitive spreads against bank rates.
- WorldRemit: WorldRemit is a digital international remittance platform serving diaspora customers with transfers to mobile wallets, bank accounts, and cash pickup. Closely comparable to Orbit Money's mobile wallet (UPI/IMPS) and cash pickup delivery methods.
- Xoom (PayPal): Xoom is PayPal's international money transfer service offering digital remittances to bank accounts, mobile wallets, and cash pickup across 160+ countries. Directly comparable to Orbit Money's remittance product and customer base.
- Knightsbridge Foreign Exchange: Knightsbridge Foreign Exchange is a Canadian FX specialist serving both individuals and businesses with currency exchange and international payments. A direct peer in the Canadian FX market with overlapping customer profiles and product offering.
- ICE Currency Exchange: ICE Currency Exchange is a Canadian FINTRAC-registered MSB with multiple physical branches providing currency exchange and money transfer services. Operates a nearly identical brick-and-mortar FX model targeting the same customer segments.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Orbit Money social profiles
Digital presenceOrbit Money compliance and trust
Trust signalCompliance3 records
Orbit Money financial estimates
Financial estimateRevenue estimate
Valuation estimate
Orbit Money leadership team
Management profileNumber of profiles
Profiles1 record
Orbit Money funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Orbit Money 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 Orbit Money
What does Orbit Money do?
Orbit Money is a Canadian Money Services Business that provides retail currency exchange across 60+ currencies and international money transfer services to 180+ countries, delivered through 13 physical branches across Canada plus digital channels. Revenue is earned primarily through the spread between the interbank rate and the customer rate (0.5%–1.5% versus 2.5%–4% at banks) and flat international wire fees ($0–$20 versus $25–$45 at banks). Delivery options include direct bank deposit, UPI/IMPS and mobile wallet transfers (notably to India), and cash pickup via the MoneyGram global agent network.
Is Orbit Money a public or private company?
Orbit Money is a private company. It is classified as unknown and is currently operating.
When was Orbit Money founded?
Orbit Money was founded in -1. It employs 11 to 50 people.
Where is Orbit Money based?
Orbit Money is headquartered in Mississauga, Canada, in the North America region.
How does Orbit Money make money?
Three revenue lines are on record. Currency Exchange Spread Revenue is the primary driver. The others are international Money Transfer Fees and moneyGram Partnership Revenue Share.
Who are Orbit Money's main competitors?
Broad incumbents on record are Western Union and MoneyGram. Direct peers are Continental Currency Exchange, Remitly, Wise, Calforex Currency Exchange, WorldRemit, Xoom (PayPal), Knightsbridge Foreign Exchange and ICE Currency Exchange.
Does Orbit Money have an API?
No public API is recorded for Orbit Money.
What industry is Orbit Money in?
Orbit Money's product category is Currency Exchange and International Money Transfer Services. Its primary akta.pro industry code is THALAHAE, Cross-Border Payments & FX (multi-currency wallets, DCC, remittance), with a secondary code of FSAMAIAJ, Cross-Border Payouts & Mass Disbursements (Pay-outs). Its NAICS code is 52232.