Upay Technology
UPay Technology is a Denver-based crypto payment platform offering a consumer crypto wallet and card plus a B2B white-label card issuance and payment gateway, serving 300K+ users across 180+ countries with Visa/Mastercard rails and multi-jurisdictional licensing.
- Company typePrivate
- Founded2023
- HeadquartersDenver, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What Upay Technology does
UPay Technology (UPAY TECHNOLOGY LTD.) is a Denver-headquartered crypto payment platform founded in 2023 that operates a global crypto wallet and card infrastructure for both consumers and businesses. The platform enables users to store, send, receive, and spend 100+ cryptocurrencies including BTC, ETH, USDT, and USDC, with instant crypto-to-fiat conversion at point of sale through physical and virtual cards accepted at 55M+ merchants worldwide. The technical stack integrates Visa and Mastercard rails, mobile wallet tokenization (Apple Pay, Google Pay, Samsung Pay), ATM withdrawal support, and money-transfer capabilities, with KYC/AML handled via Sumsub.
The company sells through three branded surfaces: UPay Wallet (consumer), UPay Card (the spending instrument), and UPay Business (a B2B platform offering branded card issuance, white-label programs, and a REST API payment gateway supporting Shopify, WooCommerce, Magento, and WordPress). UPay has scaled to 300K+ users and 320K+ cards issued across 180+ countries, and operates under a multi-jurisdictional regulatory footprint that includes a Dubai-licensed VASP, an MSO license in Hong Kong, an MSB license in the United States and Canada, and an in-principle VASP approval in Lithuania.
Revenue is generated primarily through transaction-based fees: interchange on card spending, the spread on crypto-to-fiat conversion, business gateway transaction fees, and a 0% card fee structure that monetizes volume rather than issuance. Distribution relies on a self-serve mobile app (iOS, Android, APK), a 300+ creator affiliate program paying $30 per activation plus 0.6% recurring commissions, an agent network for regional reach, and event-led brand building at major Web3 conferences.
Upay Technology firmographics
Firmographics- Name
- Upay Technology
- Legal name
- UPAY TECHNOLOGY LTD.
- Website
- https://upay.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- UPay Technology is a Denver-based crypto payment platform offering a consumer crypto wallet and card plus a B2B white-label card issuance and payment gateway, serving 300K+ users across 180+ countries with Visa/Mastercard rails and multi-jurisdictional licensing.
- Ownership category
- akta.pro rank
Upay Technology industry classification
Industry- Product category
- Crypto Payment Platform
- NAICS
- Credit Card Issuing (52221), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Crypto Card Issuing & Card Programs (Debit/Credit/Prepaid) (FSADAIAC)
Keywords
Where Upay Technology is headquartered
LocationHeadquarters
- HQ city
- Denver
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Upay Technology business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure
Revenue model
- Card Transaction Fees: UPay charges zero card issuance fees (0% card fees), generating revenue through transaction interchange and processing fees when cards are used at merchants or ATMs.
- Crypto-to-Fiat Conversion Spread: Instant crypto-to-fiat conversion at point of sale generates revenue through the spread between crypto valuation and fiat disbursement rates.
- Affiliate and Agent Commissions: The affiliate program pays $30 per card activation plus 0.6% recurring on recharges, with unlimited earning potential. Agent network earns commissions on referred customers.
- Business Gateway and API Services: UPay Business provides payment gateway solutions to merchants with settlement in local currencies, generating revenue through transaction fees and service agreements.
- Card Cashback and Rewards: Cashback program offers up to 3% cashback on spending, funded by interchange revenue and merchant agreements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | UPay Card (Consumer) - 0% card fees |
| Transaction based/ take rate | Pay-as-you-go | Affiliate Program - $30 + 0.6% recurring |
| Transaction based/ take rate | Pay-as-you-go | UPay Business Gateway - Custom pricing |
Go-to-market motion3 records
Distribution channels7 records
Marketing channels8 records
Upay Technology product offering
Product offeringCore offering
UPay Technology operates a global crypto payment infrastructure platform offering a consumer crypto wallet paired with a branded debit card for spending cryptocurrencies at merchants and ATMs worldwide, and a B2B platform (UPay Business) that provides card issuance, payment gateway, and REST API integrations for merchants and enterprises to accept crypto payments with instant crypto-to-fiat settlement.
Product overview
UPay offers a dual-product portfolio: UPay Wallet (for individuals) provides a personal crypto wallet with global crypto card for spending cryptocurrencies at merchants and ATMs worldwide with instant crypto-to-fiat conversion. UPay Business is an enterprise platform offering card issuance, crypto payment processing, API integrations, and multi-user account management to help businesses launch and manage branded card programs. Both products are powered by the same underlying infrastructure supporting 100+ cryptocurrencies with instant settlement.
Differentiator
Problem solved
Functional benefit
Brands
- UPay Card: Crypto card enabling users to spend cryptocurrencies like BTC, ETH, or USDT for everyday spending online, in stores, or at ATMs
- UPay Wallet
- UPay Business
Products and services
- UPay Card
Quantifiable outcome
- Users can spend crypto at 55M+ merchants globally with instant conversion
- +3 more outcomes
Companies that use Upay Technology
Customer profileNamed customers12 records
Segments4 records
Ideal customer profiles4 records
Upay Technology technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Feature5 records
Upay Technology partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered strategic and core.
- SafeheronstrategicSafeheron and UPay signed a wallet-to-card agreement for stablecoin payments in the UAE. This partnership accelerates stablecoin adoption for UAE-based users and merchants.
- VisacoreVisa partnership enables UPay card acceptance at 55M+ merchants globally. UPay issues Visa-branded crypto cards with instant crypto-to-fiat conversion at point of sale.
- MastercardcoreMastercard partnership provides global acceptance infrastructure for UPay crypto cards across millions of merchants and ATMs worldwide.
- Apple PaycoreApple Pay binding enables UPay card holders to add cards to Apple Wallet for contactless mobile payments at supported terminals.
- Google PaycoreGoogle Pay integration allows UPay card users to add cards to Google Wallet for Android mobile payments.
- ShopifycoreShopify integration enables UPay Business merchants to accept cryptocurrency payments directly on their Shopify stores with automated settlement.
- WooCommercecoreWooCommerce plugin allows UPay Business merchants to accept crypto payments on WordPress-based e-commerce sites.
- SumsubcoreSumsub is UPay's KYC partner for identity verification, providing automated compliance checks. Verification typically takes 5-10 minutes and only accepts documents from the user's declared country.
Scale indicators9 records
Recent moves6 records
Expansion highlights2 records
Upay Technology competitors and assessment
Company assessmentDirect peers
- Alchemy Pay: Alchemy Pay provides crypto payment gateway services for merchants and supports crypto card issuance across multiple jurisdictions—a closely comparable hybrid consumer/merchant crypto payment platform.
- Crypto.com: Crypto.com issues the MCO/Visa crypto debit card and operates a consumer wallet plus merchant payment gateway—directly competing with UPay's consumer card and UPay Business offerings across the same product categories.
- BitPay: BitPay is one of the longest-standing crypto payment gateway providers, enabling merchants to accept Bitcoin and other cryptocurrencies with fiat settlement—directly overlapping with UPay Business payment processing.
- Wirex: Wirex issues Visa/Mastercard crypto debit cards across 130+ countries with multi-currency wallet and merchant payment services—highly comparable product set and geographic footprint to UPay.
- Bybit: Bybit operates the Bybit Card for crypto spending and merchant crypto payment services, directly competing with UPay's consumer card and payment gateway offerings.
- Binance: Binance issues the Binance Visa Card in multiple regions and operates Binance Pay for merchant crypto acceptance, making it a direct competitor to both UPay Card and UPay Business gateway.
- CoinsPaid: CoinsPaid offers crypto payment processing for merchants with fiat settlement, plus crypto card solutions—directly overlapping with UPay's payment gateway and card issuance offerings.
Emerging players
- MoonPay: MoonPay provides fiat-to-crypto on-ramp infrastructure and is expanding into crypto card and payment products. While focused on the on/off-ramp layer, it represents an emerging player whose expansion overlaps with UPay's merchant and consumer payment stack.
- Strike: Strike operates a Bitcoin Lightning-based payment app with debit card functionality and merchant tools. It overlaps with UPay's consumer spending and merchant acceptance use cases, particularly for Bitcoin-native users.
Broad incumbents
- Coinbase: Coinbase is the largest US-regulated crypto exchange offering Coinbase Card (Visa debit), merchant tools, and a developer platform—an established incumbent with overlapping crypto card and payment capabilities.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Upay Technology social profiles
Digital presenceUpay Technology compliance and trust
Trust signalCompliance5 records
Upay Technology financial estimates
Financial estimateRevenue estimate
Valuation estimate
Upay Technology leadership team
Management profileNumber of profiles
Upay Technology funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Upay Technology 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 Upay Technology
What does Upay Technology do?
UPay Technology operates a global crypto payment infrastructure platform offering a consumer crypto wallet paired with a branded debit card for spending cryptocurrencies at merchants and ATMs worldwide, and a B2B platform (UPay Business) that provides card issuance, payment gateway, and REST API integrations for merchants and enterprises to accept crypto payments with instant crypto-to-fiat settlement.
Is Upay Technology a public or private company?
Upay Technology is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Upay Technology founded?
Upay Technology was founded in 2023. It employs 11 to 50 people.
Where is Upay Technology based?
Upay Technology is headquartered in Denver, United States, in the North America region.
How does Upay Technology make money?
Five revenue lines are on record. Card Transaction Fees are the primary driver. The others are crypto-to-Fiat Conversion Spread, affiliate and Agent Commissions, business Gateway and API Services and card Cashback and Rewards.
Who are Upay Technology's main competitors?
Direct peers on record are Alchemy Pay, Crypto.com, BitPay, Wirex, Bybit, Binance and CoinsPaid. Emerging players are MoonPay and Strike. Coinbase is listed as a broad incumbent.
Does Upay Technology have an API?
Yes. UPay offers a Custom API/REST integration for merchants to accept cryptocurrency payments on their websites. The developer hub includes REST API documentation, SDKs, webhooks, and sandbox testing for fast integration. The developer documentation is available at upay-api.readme.io. Developer documentation is at upay-api.readme.io/reference/environment.
What industry is Upay Technology in?
Upay Technology's product category is Crypto Payment Platform. Its primary akta.pro industry code is FSADAIAC, Crypto Card Issuing & Card Programs (Debit/Credit/Prepaid). Its NAICS code is 52221 and its SIC code is 6200.