WaPaS

What WaPaS does

WaPaS is a privately held, India-origin B2B software company operating a Wallet-as-a-Service (WaS) platform that consolidates digital wallet infrastructure, loyalty program management, referral systems, multi-level marketing and affiliate tools, commission tracking, and gamification features into a single no-code, API-centric product. The platform is built around plug-and-play SDKs for all major web and mobile platforms and open APIs that allow businesses to programmatically configure loyalty programs, commissions, achievements, coupons, and streak-based challenges without IT dependency. Core modules include wallet and transaction management, a gamification engine (Spin the Wheel, Scratch Cards, Mini Slots, Quiz Games, Leaderboards), referral and earn programs, MLM and reseller management with nth-level commission support, multi-tier commission management, achievement and streak models, coupon and redemption systems, and analytics with security features such as two-factor authentication and configurable transaction limiters.

The company serves e-commerce platforms, fintech companies, SaaS businesses, brands seeking user engagement, and network marketing/MLM businesses, with the disclosed testimonial base skewed toward SMBs and individual business owners in retail and e-commerce. WaPaS employs a product-led growth motion via self-serve SDK integration layered with a sales-assisted "Book a Demo" motion for mid-market and enterprise buyers, and distributes globally through the wapas.io storefront supported by content marketing, SEO, and active social media profiles on Facebook, Instagram, LinkedIn, Twitter, and YouTube. Revenue is generated via a B2B SaaS subscription or usage-based pricing model, though no pricing tiers, revenue figures, funding history, or headcount are publicly disclosed, and a contact line linked to InventoryLite suggests a possible operating affiliation that is not formally documented in the source material.

Name

WaPaS

Legal name

WaPaS

Website

https://wapas.io

Company type

Private

Operating status

Operating

Short description

WaPaS is a privately held India-origin B2B SaaS company offering a Wallet-as-a-Service platform that combines digital wallets, loyalty programs, referral systems, MLM/affiliate commissions, and gamification modules via plug-and-play SDKs and open APIs for e-commerce, fintech, SaaS, and MLM businesses.

Ownership category

akta.pro rank

Product category

Loyalty Management Software

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

akta.pro primary industry

Digital Wallet Infrastructure (Tokenization, Wallet-as-a-Service) (FSAMAEAI)

akta.pro secondary industry

Loyalty Technology Platforms (LMS, Wallets, APIs) (THABAKAH)

Keywords

• Loyalty management software
• Wallet as a service
• Gamification platform
• Referral program software
• Affiliate commission management

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. SaaS Platform Subscription / API Usage: WaPaS operates as a B2B SaaS platform offering wallet-as-a-service solutions on a subscription or usage-based model. Businesses integrate the platform via SDK or API and pay for access to loyalty programs, wallet services, commissions, and gamification features. The no-code platform empowers marketing and loyalty teams to run programs internally without IT support, suggesting a per-seat or tiered subscription model.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

WaPaS is a Wallet-as-a-Service (WaS) and no-code loyalty technology platform that enables businesses to embed digital wallets, loyalty programs, referral systems, multi-level marketing (MLM), commission management, and gamification features into their web and mobile applications via plug-and-play SDKs and open APIs. The platform is designed to be configured by marketing and loyalty teams without IT dependency, with rapid go-live typically in a few days.

Product overview

WaPaS is a Wallet-as-a-Service (WaS) platform offering a no-code, API-centric solution for loyalty technology and digital wallet management. The core WaPaS Platform provides APIs and SDKs for seamless in-product integration. The product portfolio includes gamification tools (Spin the Wheel, Scratch Card, Slot Games, Quiz Game, Leaderboard), engagement programs (Referral Program, Loyalty Programs with Daily Streaks and Achievements), business expansion tools (MLM & Resellers Models, Affiliate & Reseller Programs), and financial infrastructure (Wallet Services, Commission Management). The platform is designed to be accessible via web, mobile apps, and API integrations, enabling businesses to configure loyalty programs, wallet services, commissions, achievements, coupons, and streaks without IT dependency.

Differentiator

Problem solved

Functional benefit

Products and services

• WaPaS Platform Core Wallet-as-a-Service (WaS) platform that enables businesses to integrate loyalty, rewards, referral, MLM, commission management, and gamification features into their web and mobile applications via plug-and-play SDKs and open APIs. Targets marketing, product, and loyalty teams across e-commerce, SaaS, and fintech businesses that need an embedded engagement and wallet layer.
• Spin the Wheel Gamified promotional feature where users spin a virtual wheel to win prizes, discounts, or rewards. Supports configurable segments, prize distribution, and winning odds, and is used by businesses to drive conversion, email collection, and customer engagement.
• Scratch Card Gamified promotional tool where users scratch to reveal prizes, points, or rewards. Used by businesses to enhance customer engagement and conversion rates as part of in-product marketing campaigns.
• Slot Games Slot machine-style gamified promotional game for distributing rewards and driving user engagement within mobile and web applications.
• Quiz Game Interactive quiz-based promotional game designed to engage users through gamified challenges with configurable rewards.
• Leaderboard Competitive ranking system that displays user rankings to encourage ongoing engagement and retention through friendly competition.
• Referral Program Customer referral system enabling businesses to acquire new customers through existing ones, with instant cashback, rewards, and loyalty points. Supports multi-tier referral structures and is used to lower customer acquisition costs.
• Loyalty Programs Gamified loyalty programs including Spin the Wheel, Daily Streaks, Stamps, and achievement models designed to drive customer retention and repeat engagement within apps and websites.
• MLM & Reseller Models Multi-level marketing configuration module supporting commission floating for nth levels, team rewards, achievements, and reporting on MLM tree hierarchies for businesses that operate network marketing or reseller-led models.
• Affiliate & Reseller Programs Partner management system with configurable partner levels, coupon creation, commission goal management, and detailed reporting for businesses operating affiliate and reseller networks.
• Wallet Services Digital wallet infrastructure for managing transactions, credits, rewards, and customer funds, with advanced bookkeeping and reporting for businesses offering wallet functionality inside their products.
• Commission Management Multi-tier and multi-level commission engine supporting product-level, collection-level, royalty, referral, and recurring commissions, with detailed reporting for businesses running partner and affiliate programs.
• Mobile SDK Plug-and-play mobile SDK for integrating WaPaS gamification, loyalty, and wallet features into native iOS and Android applications, enabling rapid deployment across all major mobile platforms.

Quantifiable outcome

• 4.6 million transactions processed on the platform
• +8 more outcomes

Named customers9 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

Feature11 records

Scale indicators10 records

Recent moves4 records

Expansion highlights5 records

Direct peers

• Smile.io: Leading loyalty and rewards platform purpose-built for e-commerce merchants (especially Shopify). Competes head-to-head with WaPaS on points-based loyalty, referral programs, and VIP tiers for SMB and mid-market customers.
• LoyaltyLion: Loyalty and engagement platform focused on Shopify and e-commerce brands, offering points, referrals, and tiers. Closely comparable customer base and feature overlap with WaPaS's loyalty modules.
• Open Loyalty: Headless loyalty infrastructure platform offering APIs for building customizable loyalty programs. Direct technical analog to WaPaS's API-first loyalty approach with deeper enterprise penetration.

Emerging players

• Wheelio: Gamified email-capture and spin-to-win tool for Shopify merchants. Direct overlap with WaPaS's Spin the Wheel gamification feature at the low end of the market.
• Circle: Wallet-as-a-Service and stablecoin infrastructure provider offering developer APIs for embedded wallets. Most direct analog to WaPaS's wallet infrastructure layer, though oriented to crypto/fiat onramps.
• Session AI: Real-time personalization and engagement platform that competes for the same customer-experience budgets as WaPaS, with adjacent capabilities in gamified offers and loyalty incentives.

Broad incumbents

• Comarch Loyalty: Telecom-and-retail-focused loyalty management suite with multi-tier commission and gamification features. Comparable to WaPaS's MLM and commission modules at enterprise scale.
• Annex Cloud: Enterprise loyalty cloud serving global brands across loyalty, referral, and customer engagement. Comparable in scope to WaPaS's loyalty/MLM modules but focused on large enterprises rather than SMBs.
• Salesforce Loyalty Management: Enterprise loyalty solution within the Salesforce CRM ecosystem. Operates broadly in loyalty technology and competes for the same enterprise wallet-and-loyalty RFPs WaPaS targets.
• Yotpo: Well-funded marketing platform bundling reviews, loyalty, SMS, and subscriptions. Operates broadly in the same engagement space but with a much wider feature portfolio and enterprise reach than WaPaS.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/wapasofficial
• YouTubeyoutube.com/@wapas-official?si=1P8h0M55eVlEIWU1
• Facebookfacebook.com/wapasconnect
• LinkedInlinkedin.com/company/wapasofficial
• Instagraminstagram.com/wapas_official

Revenue estimate

Valuation estimate

Number of profiles

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 WaPaS