modupay
Modupay is a Cairo-based payment infrastructure provider offering an API-first platform with 150+ APIs spanning card issuing, processing, tokenization, BIN sponsorship, and digital solutions. It serves 200+ banks and 40+ fintechs across 40+ countries in the Middle East, Africa, and Eastern Europe.
- Company typePrivate
- Founded2003
- HeadquartersCairo, Egypt
- Headcount501–1,000
- GTM typeB2B
- OfferingSoftware
What modupay does
Modupay is a Cairo-headquartered payment infrastructure provider that delivers an end-to-end platform spanning card production, card personalization, card issuing, payment processing (issuing and acquiring), digital portals and mobile applications, tokenization, BIN sponsorship, fraud and risk management, data analytics, and real-time card controls. The platform is exposed through 150+ APIs and serves as embeddable infrastructure for banks, fintechs, and SMEs. Modupay claims PCI DSS compliance and bank-grade security certifications as core architectural features.
The company serves an installed base of 200+ banks and 40+ fintechs, with operational presence in 40+ countries across the Middle East, Africa, and Eastern Europe and offices in 5+ countries. Its go-to-market is API-first and enterprise-focused, with direct sales engagement and integrations with major payment schemes including Visa and the domestic Egyptian scheme Meeza. Notable Egyptian fintech clients include Valu (prepaid card), Lucky, Khaznaa, Thndr (wealth management card), Kiwe (social money application), and Souhoola (reloadable prepaid with installments up to 60 months).
Modupay generates revenue through transaction-based fees on payment processing, API platform licensing for embedded payment functionality, and card production and personalization services. Pricing is contract-based and not publicly disclosed, consistent with B2B infrastructure economics. The company is privately held with no disclosed funding rounds, no parent company, and no subsidiaries, operating as an independent payment enabler in emerging markets.
modupay firmographics
Firmographics- Name
- modupay
- Legal name
- Modupay
- Website
- https://modupay.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Modupay is a Cairo-based payment infrastructure provider offering an API-first platform with 150+ APIs spanning card issuing, processing, tokenization, BIN sponsorship, and digital solutions. It serves 200+ banks and 40+ fintechs across 40+ countries in the Middle East, Africa, and Eastern Europe.
- Ownership category
- akta.pro rank
modupay industry classification
Industry- Product category
- Payment Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Credit Card Issuing (52221)
- SIC
- Services-Computer Processing & Data Preparation (7374), Services-Prepackaged Software (7372), Finance Services (6199)
- akta.pro primary industry
- Payment Gateways & API Connectivity (FSAGABAB)
- akta.pro secondary industries
- Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)
Keywords
Where modupay is headquartered
LocationHeadquarters
- HQ city
- Cairo
- HQ country
- Egypt
- HQ region
- Africa
Offices1 record
Markets served
modupay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales
Revenue model
- Payment Processing & Transaction Fees: Modupay generates revenue through processing payment transactions for banks and fintechs. As a payment infrastructure provider, they charge transaction fees for card issuing, acquiring, and digital payment services.
- API Platform Licensing: Provides access to 150+ APIs for card production, tokenization, BIN sponsorship, and digital solutions on a licensing basis to banks and fintechs seeking to embed payment capabilities.
- Card Production & Personalization Services: Physical and digital card production services including personalization for issued cards.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
modupay product offering
Product offeringCore offering
Modupay delivers an end-to-end, API-first payments infrastructure platform that enables banks, fintechs, and SMEs to launch and scale embedded payment and financial services. Its offering spans card production and personalization, card issuing and acquiring processing, digital portals and mobile apps, payment gateways, tokenization, BIN sponsorship, fraud and risk management, data analytics, and real-time card controls, delivered through 150+ cloud-native APIs with PCI-compliant, bank-grade security.
Product overview
Modupay is an end-to-end payments infrastructure platform providing a modular suite of embedded finance solutions to banks, fintechs, and SMEs. The platform operates on a platform-plus-modules architecture comprising four core product categories: (1) Cards (Card Production, Card Personalization, Card Issuing), (2) Processing (Issuing, Acquiring), (3) Digital (Portals & Apps, Transaction Services, Gateways), and (4) VAS (Security & Risk Management, Analytics). The offering is delivered through 150+ APIs enabling customizable embedded payment experiences including tokenization, BIN sponsorship, card controls, fraud management, and data insights. The platform serves 200+ banks, 40+ fintechs, and processes payments across 40+ countries in the Middle East, Africa, and Eastern Europe.
Differentiator
Problem solved
Functional benefit
Products and services
- Cards Suite
Quantifiable outcome
- 200+ banks served globally
- +2 more outcomes
Companies that use modupay
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles3 records
modupay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
modupay partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core.
- ThndrcoreModupay is partnering with Thndr and Suez Canal Bank to launch a payment card for Thndr's wealth management platform. The card launch is pending Central Bank of Egypt approval. Thndr processes roughly 40% of order volume on the Egyptian Exchange with over EGP 50bn in Egyptian investments.
- Suez Canal BankcoreSuez Canal Bank partnered with Thndr and Modupay to issue payment cards for the Egyptian wealth management market. Modupay serves as the technical payment infrastructure provider for the card program.
- VisacoreVisa is the payment network partner for multiple Modupay-powered card programs including Thndr's payment card. Visa's global payment network and security technologies are leveraged in these partnerships.
- KiwecoreKiwe, an Egyptian fintech startup, received final CBE approval to launch its mobile application and card in Egypt. ModuPay is the technical payment partner alongside Banque Misr, VISA, and Meeza. Kiwe introduces Egypt's first social money features with instant transfers and real-time spending monitoring.
- Banque MisrcoreBanque Misr serves as the banking partner for Kiwe's fintech launch in Egypt. The partnership combines banking expertise with Modupay's payment infrastructure and Visa's global network.
- SouhoolacoreSouhoola, an Egyptian consumer finance company, received regulatory approval to launch a reloadable prepaid card with Modupay as the technical payment partner. The card combines prepaid functionality with installment flexibility up to 60 months, featuring instant activation and real-time transaction tracking.
- Banque MisrcoreBanque Misr partnered with Souhoola and Modupay to issue reloadable prepaid cards serving existing customers and urban individuals across Egypt, enhancing financial inclusion.
- VisacoreVisa provides the global payment network and security technologies for Souhoola's prepaid card program, enabling wide acceptance and advanced security standards.
Scale indicators7 records
Recent moves5 records
Expansion highlights6 records
modupay competitors and assessment
Company assessmentDirect peers
- DPO Group: Pan-African payment service provider (acquired by PayU) offering merchant acquiring, payment gateways, and processing across multiple African markets. Direct comparable to Modupay in African footprint, gateway and acquiring modules, and bank/fintech-style enterprise customer base.
- Cellulant: Pan-African digital payments platform providing payment infrastructure to banks, mobile network operators, and merchants across 35+ countries. Comparable to Modupay in regional focus, bank-and-fintech customer base, and digital payment infrastructure offerings including mobile and API rails.
- Flutterwave: Pan-African payment gateway and infrastructure provider enabling businesses to accept and process payments across the continent. Comparable to Modupay in African geographic focus, API-first delivery, and bank/fintech customer base, with overlapping acquiring and digital wallet capabilities.
- Paystack: Nigeria-headquartered online payment gateway acquired by Stripe, serving merchants and fintechs across Africa with payment processing and developer APIs. Direct comparable to Modupay's gateway and processing modules and an indirect competitor for the same bank and fintech customers in Africa.
- Verto: B2B cross-border payments platform serving emerging markets across Africa, MENA, Asia, and Latin America. Comparable to Modupay in targeting banks and fintechs in emerging markets with payments infrastructure, though focused more on FX/cross-border than card issuing.
- Network International: UAE-headquartered payment processor serving banks and merchants across the Middle East and Africa with card issuing, acquiring, and processing. Closest comparable to Modupay in regional focus, customer base (banks and fintechs), and end-to-end card lifecycle offerings.
- Onafriq: African mobile money and cross-border payments operator (rebrand of MFS Africa) connecting 500+ mobile money operators and 200+ banks across Africa. Comparable to Modupay in serving banks across Africa with payments infrastructure, though more concentrated on mobile money rails than card issuing.
Broad incumbents
- Marqeta: US-headquartered, publicly-listed card-issuing and processing platform serving fintechs and banks globally via open APIs. Comparable to Modupay's card issuing and processing modules at a larger, more mature scale, and an indirect competitor as it expands into emerging markets.
- Galileo Financial Technologies: US-based (SoFi-owned) card issuing and payments processing platform powering fintech and bank programs globally. Comparable to Modupay's issuing/processing stack with significant overlap in card controls, tokenization, and fraud modules, and a broader incumbency in the fintech-issuer segment.
- Checkout.com: Global, well-capitalized payment processor providing acquiring, gateways, and embedded financial services to large enterprises, banks, and platforms worldwide. Comparable to Modupay's acquiring and gateway modules at a much larger global scale, and a likely competitor as it expands MEA presence.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
modupay social profiles
Digital presencemodupay compliance and trust
Trust signalCompliance1 record
modupay financial estimates
Financial estimateRevenue estimate
Valuation estimate
modupay leadership team
Management profileNumber of profiles
modupay funding detail
Funding detailFunding overview
Funding rounds2 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
modupay M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about modupay
What does modupay do?
Modupay delivers an end-to-end, API-first payments infrastructure platform that enables banks, fintechs, and SMEs to launch and scale embedded payment and financial services. Its offering spans card production and personalization, card issuing and acquiring processing, digital portals and mobile apps, payment gateways, tokenization, BIN sponsorship, fraud and risk management, data analytics, and real-time card controls, delivered through 150+ cloud-native APIs with PCI-compliant, bank-grade security.
Is modupay a public or private company?
modupay is a private company. It is classified as unknown and is currently operating.
When was modupay founded?
modupay was founded in 2003. It employs 501 to 1,000 people.
Where is modupay based?
modupay is headquartered in Cairo, Egypt, in the Africa region.
How does modupay make money?
Three revenue lines are on record. Payment Processing & Transaction Fees are the primary driver. The others are API Platform Licensing and card Production & Personalization Services.
Who are modupay's main competitors?
Direct peers on record are DPO Group, Cellulant, Flutterwave, Paystack, Verto, Network International and Onafriq. Broad incumbents are Marqeta, Galileo Financial Technologies and Checkout.com.
Does modupay have an API?
Yes. Modupay offers an API platform with 150+ APIs enabling developers to build embedded payments and financial services. The API platform supports tokenization, BIN sponsorship, portals and apps development, fraud and risk management, data insights, and card controls. Access is available through the developer portal at https://www.mdp.global:8443/. Developer documentation is at www.mdp.global:8443.
What industry is modupay in?
modupay's product category is Payment Infrastructure. Its primary akta.pro industry code is FSAGABAB, Payment Gateways & API Connectivity, with a secondary code of FSAGABAE, Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure. Its NAICS code is 52232 and its SIC code is 7374.