iPay
iPay (TransCash International Pty. Ltd.) is an Australian-licensed cross-border remittance and payments company founded in 2010 that serves consumers, businesses, and financial institutions across 100+ countries through a proprietary HUB model accessed via a single API.
- Company typePrivate
- Founded2010
- HeadquartersParramatta, Australia
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What iPay does
iPay, operating under the legal name TransCash International Pty. Ltd., is an Australian-incorporated cross-border payments and remittance company founded in 2010. The company serves both consumers (C2C transfers to family, friends, and associates overseas) and businesses (B2B payroll management and invoicing) across more than 100 countries, supported by six offices in Australia (Sydney headquarters), the United States (New York), Singapore, South Korea (Seoul), Japan (Tokyo), and India (Bengaluru). iPay also trades under the brand names ISEND and ISEND GLOBAL.
The core platform is the proprietary HUB model, a single-API payment ecosystem connecting exchange houses, Money Service Businesses (MSBs), banks, and remittance operators for cross-border settlement. The product surface comprises three offerings: (1) International Money Transfer for consumer C2C, (2) Business Payment Services for B2B use cases including payroll and invoicing, and (3) Payment System Integration, which allows partners to embed iPay's rails into their own applications via API. A mobile app complements the web platform for consumer flows. The compliance infrastructure includes real-time KYC/CDD under a Risk-Based Approach, sanctions screening against global lists, identity verification through Australia's Document Verification Service under the Identity Verification Services Act 2023, and continuous transaction monitoring — all operated under Australian Financial Services License (AFSL 401180) from ASIC and AUSTRAC registration with full AML/CTF compliance.
iPay generates revenue primarily through per-transaction service fees combined with foreign exchange spreads on guaranteed local-currency payouts. Distribution is digital-first (website at ipayremit.com and mobile app) for consumer and SMB flows, and API-driven for enterprise and financial institution partners. No funding rounds, institutional investors, revenue figures, or headcount are disclosed in the available material; ownership appears founder/management-operated with no disclosed external backing.
iPay firmographics
Firmographics- Name
- iPay
- Legal name
- TransCash International Pty. Ltd.
- Website
- https://ipayremit.com
- Company type
- Private
- Founded year
- 2010
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- iPay (TransCash International Pty. Ltd.) is an Australian-licensed cross-border remittance and payments company founded in 2010 that serves consumers, businesses, and financial institutions across 100+ countries through a proprietary HUB model accessed via a single API.
- Ownership category
- akta.pro rank
iPay industry classification
Industry- Product category
- Cross-Border Payments and Remittance
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Services-Management Services (8741)
- akta.pro primary industry
- Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity) (FSAGAKAH)
- akta.pro secondary industries
- Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ), Trade & Invoice Payments (Cross-Border B2B) (FSAMAIAL), API Management Platforms (API Gateways, Developer Portals) (HDAEAIAA)
Keywords
Where iPay is headquartered
LocationHeadquarters
- HQ city
- Parramatta
- HQ country
- Australia
- HQ region
- Oceania
Offices7 records
Markets served
iPay business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Transaction Fees: Service Fee charged per transaction, which is non-refundable subject to Terms and Conditions. The fee is combined with any additional charges or Local Taxes applicable to each transaction.
- Foreign Exchange Spread: iPay guarantees Payout Amount in local currency. Where there is a difference between the exchange rate at which a currency is bought and the rate provided to the client, iPay and its Service Providers make a profit to cover risk in guaranteeing the Payout Amount.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Variable transaction fees based on destination country, payment method, and transaction amount |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels3 records
iPay product offering
Product offeringCore offering
iPay operates a cross-border remittance and payment settlement platform enabling individuals to send C2C money transfers and businesses to execute B2B payments including payroll and invoicing across 100+ countries. The company monetizes transactions through service fees and foreign exchange spreads, leveraging its proprietary HUB model accessible via a single API to connect exchange houses, MSB companies, banks, and remittance operators into a unified payment ecosystem.
Product overview
iPay operates as a single unified remittance platform with three core service offerings: International Money Transfer (consumer-to-consumer), Business Payment Services (B2B with payroll and invoicing), and Payment System Integration (API for partner embedding). The platform is built on iPay's proprietary HUB model, creating an ecosystem connecting exchange houses, MSB companies, banks, and remittance operators across 100+ countries. A mobile application complements the web platform. iPay also trades under the names ISEND and ISEND GLOBAL.
Differentiator
Problem solved
Functional benefit
Products and services
- iPay International Money Transfer The primary C2C remittance platform enabling individuals to send consumer-to-consumer money transfers to over 100 countries. Features swift and secure transactions with cutting-edge encryption, real-time tracking, stage-wise updates, diverse payment options (bank transfers, mobile wallets), and 24/7 automated platform with in-person support.
- iPay Business Payment Services Customized B2B payment solutions for businesses including payroll management, invoicing, and international payment services designed to simplify global payments and expand international presence. Targets companies needing cross-border payment infrastructure for employee compensation and supplier/partner invoicing.
- iPay Payment System Integration API-based integration product allowing businesses and partners to embed iPay's payment ecosystem into their own systems or applications for a seamless user experience. Connects partners to iPay's HUB model for cross-border settlement.
- iPay Mobile Application A mobile application owned by Transcash (iPay) used for sending Payment Requests and Transaction Requests for international money transfers, complementing the web-based platform for consumer remittances.
- iPay HUB Model iPay's proprietary HUB model platform that creates a seamless payment ecosystem connecting exchange houses, MSB companies, banks, and remittance operators, accessible through a single API for cross-border settlement solutions across 100+ countries.
Companies that use iPay
Customer profileSegments3 records
Ideal customer profiles3 records
iPay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature4 records
iPay partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Wadi Shazana RemitminorMet at Singapore FinTech Festival 2023. Remittance service provider. Engagement explored collaborative opportunities.
Scale indicators2 records
Recent moves6 records
Expansion highlights6 records
iPay competitors and assessment
Company assessmentEmerging players
- Revolut: Digital banking super-app with expanding remittance and multi-currency account offerings. Comparable cross-border consumer and SMB payment functionality, though with broader product portfolio beyond payments.
Direct peers
- WorldRemit: Digital cross-border money transfer platform serving 130+ countries with mobile wallet, bank deposit, and cash pickup options. Direct competitor in the digital C2C remittance segment targeting similar diaspora corridors.
- Thunes: Cross-border payments infrastructure network enabling payouts to 130+ countries via mobile wallets, banks, and cash pickup. Direct competitor in the B2B2C payouts space and identified as iPay partner engagement at 2023 Singapore FinTech Festival.
- Remitly: Direct C2C remittance competitor focused on immigrant corridors from developed to emerging markets. Comparable consumer remittance use cases with similar target segments, particularly Australia-Asia corridors where iPay also operates.
- TerraPay: Cross-border mobile payments infrastructure provider connecting mobile wallets, banks, and financial institutions globally. Comparable B2B payment infrastructure play and explicitly identified as iPay engagement partner at Singapore FinTech Festival 2023.
- Tranglo: Asia-Pacific focused cross-border payment hub serving remittance operators, banks, and fintechs. Comparable B2B remittance infrastructure model and explicitly identified as iPay partner engagement at Singapore FinTech Festival 2023.
- Wise: Direct competitor offering consumer and business cross-border payments with mid-market FX rates across 70+ countries. Comparable C2C remittance and B2B international payment use cases, though at vastly larger scale.
Broad incumbents
- PayPal (Xoom): Global digital payments giant with Xoom remittance product serving 160+ countries. Overlaps with iPay's C2C international money transfer offering as part of a much broader payments portfolio.
- MoneyGram: Global incumbent in person-to-person money transfer and bill payment services. Comparable cross-border remittance offering across similar corridors, with established agent network and digital channels.
- Western Union: Largest incumbent in cross-border money transfers with global agent network across 200+ countries. Overlaps with iPay's C2C and B2B remittance business, but operates at vastly larger scale with cash-pickup as a differentiator.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
iPay social profiles
Digital presenceiPay compliance and trust
Trust signalCompliance5 records
iPay financial estimates
Financial estimateRevenue estimate
Valuation estimate
iPay leadership team
Management profileNumber of profiles
Profiles3 records
iPay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
iPay 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 iPay
What does iPay do?
iPay operates a cross-border remittance and payment settlement platform enabling individuals to send C2C money transfers and businesses to execute B2B payments including payroll and invoicing across 100+ countries. The company monetizes transactions through service fees and foreign exchange spreads, leveraging its proprietary HUB model accessible via a single API to connect exchange houses, MSB companies, banks, and remittance operators into a unified payment ecosystem.
Is iPay a public or private company?
iPay is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was iPay founded?
iPay was founded in 2010. It employs 11 to 50 people.
Where is iPay based?
iPay is headquartered in Parramatta, Australia, in the Oceania region.
How does iPay make money?
Two revenue lines are on record. Transaction Fees are the primary driver. The others are foreign Exchange Spread.
Who are iPay's main competitors?
Revolut is listed as an emerging player. Direct peers are WorldRemit, Thunes, Remitly, TerraPay, Tranglo and Wise. Broad incumbents are PayPal (Xoom), MoneyGram and Western Union.
Does iPay have an API?
No public API is recorded for iPay.
What industry is iPay in?
iPay's product category is Cross-Border Payments and Remittance. Its primary akta.pro industry code is FSAGAKAH, Remittance & Cross-Border Payment Rails (SWIFT, Local Clearing, RTP Connectivity), with a secondary code of FSAMAIAJ, Cross-Border Payouts & Mass Disbursements (Pay-outs). Its NAICS code is 522320 and its SIC code is 8741.