PayRex
PayRex is a Philippines-based, BSP-regulated API-first payment gateway founded in 2023 by former PayMongo executives. It serves Philippine SMBs and enterprises with online and in-person payment acceptance, billing automation, and finance automation across cards, GCash, Maya, and QRPh.
- Company typePrivate
- Founded2023
- HeadquartersPasay, Philippines
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What PayRex does
PayRex (operating as Evolut10n Labs, Inc.) is a Philippines-based, BSP-regulated payment gateway founded in late 2023 by former PayMongo executives and headquartered in Pasay. The company operates an API-first platform that enables Philippine businesses of all sizes to accept online and in-person payments across credit/debit cards, GCash, Maya, and QRPh through a single integration. The product suite comprises Online Payments (core gateway), hosted Checkout, embeddable Elements UI components, a no-code Pages product, Static QR Ph for in-person acceptance, plus add-on modules for Billing Statement automation, Finance Automation (real-time monitoring, tax calculation), and PayRex Connect for platforms and marketplaces. Distribution runs through self-serve onboarding, developer documentation (Node, PHP, Python, Ruby SDKs), and official Shopify and WooCommerce plugins.
PayRex generates revenue through integrated per-transaction fees on payments processed, with daily payouts to merchant bank accounts. Pricing is negotiable for higher-volume merchants, and there is no minimum contract or quota requirement, giving the model a product-led, pay-as-you-go character. Customer segmentation spans enterprise retail (SM Markets, Crate & Barrel, Disney Store, Sports Central, Hypermarket, Toy Kingdom), education (Asia Pacific College, National University, Benilde), F&B and SMB merchants, and platforms/marketplaces served through PayRex Connect.
In January 2026, PayRex closed a US$2 million Series A from Kollab, a digital transformation consultancy that acquired majority ownership. The same month it integrated Billease, a leading Philippine BNPL provider, to extend installment payment options to merchants via a single API. In February 2026, Red Jaques Bernaldez was appointed Chief Operating Officer, joining from ST Telemedia Global Data Centres. The company holds PCI DSS compliance and operates under Bangko Sentral ng Pilipinas supervision.
PayRex firmographics
Firmographics- Name
- PayRex
- Legal name
- Evolut10n Labs, Inc.
- Website
- https://payrex.com
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- PayRex is a Philippines-based, BSP-regulated API-first payment gateway founded in 2023 by former PayMongo executives. It serves Philippine SMBs and enterprises with online and in-person payment acceptance, billing automation, and finance automation across cards, GCash, Maya, and QRPh.
- Ownership category
- akta.pro rank
PayRex industry classification
Industry- Product category
- Payment Processing / Online Payment Gateway
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
- akta.pro secondary industries
- Integrated Payment Processors (PSP/Acquirer) (FSAMABAA), Marketplace / Platform Acquiring (PayFac & Sub-Merchant Management) (FSAMABAF), Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)
Keywords
Where PayRex is headquartered
LocationHeadquarters
- HQ city
- Pasay
- HQ country
- Philippines
- HQ region
- Asia
Offices1 record
Markets served
PayRex business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Payment Processing Fees: Integrated per-transaction pricing with no hidden fees. Merchants pay transaction fees for each payment processed through the platform.
- Payout Settlement: Daily payouts to merchant bank accounts, with net amount calculated after deducting fees and taxes from gross payment amounts.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Per-transaction pricing model with no minimum contract |
| Transaction based/ take rate | Pay-as-you-go | Negotiable enterprise pricing available |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels4 records
PayRex product offering
Product offeringCore offering
PayRex operates an API-first payment gateway platform that enables Philippine businesses to accept online and in-person payments via a single integration. The platform supports multiple payment methods (credit/debit cards, GCash, Maya, QRPh) and offers hosted Checkout, embeddable Elements UI components, no-code Pages, Static QR Ph for in-person payments, and add-on modules for Billing Statement automation, Finance Automation, and marketplace payment orchestration. The service is PCI DSS compliant and regulated by the Bangko Sentral ng Pilipinas.
Product overview
PayRex operates as a unified payment platform offering both online and in-person payment solutions for businesses in the Philippines. The core product portfolio consists of Online Payments (primary payment gateway), Checkout (hosted payment pages), Elements (embeddable UI components), Pages (no-code payment pages), and Static QR Ph (in-person QR payments). These core products are complemented by add-on modules including Billing Statement for invoicing automation, Finance Automation for real-time payment monitoring and tax compliance, PayRex Connect for platforms and marketplaces, and a Shopify Plugin for e-commerce integration. The platform supports multiple payment methods including credit/debit cards, GCash, Maya, and QRPh, and is regulated by Bangko Sentral ng Pilipinas with PCI DSS compliance.
Differentiator
Problem solved
Functional benefit
Products and services
- Online Payments Primary payment gateway product that enables businesses to accept online payments through credit/debit cards, e-wallets (GCash, Maya), and QR codes via a single API integration.
- PayRex Checkout PayRex-hosted checkout page solution that allows merchants to accept payments without building custom payment forms, providing a ready-to-use online checkout experience with customizable billing information collection.
- PayRex Elements Embeddable modular UI components that allow developers to integrate customizable payment forms directly into their applications or websites while maintaining PCI-DSS compliance by sending payment information directly to PayRex.
- PayRex Pages No-code payment page solution that enables businesses to create secure, user-friendly, and fully customizable payment pages without requiring a website or coding knowledge.
- Static QR Ph QR Ph-based payment solution for in-person payments in the Philippines, enabling merchants to accept QR payments from customers using the Philippine national QR standard.
- Billing Statement Billing automation module that allows businesses to create and send billing statements to customers with no coding required, with API integration available for existing systems.
- Finance Automation Financial operations platform that enables businesses to monitor payments in real time, view detailed cost breakdowns, and utilize automatic tax calculation for compliance.
- PayRex Connect Platform and marketplace solution that simplifies end-to-end payment experiences for platforms, enabling features like speedy launches, revenue growth, global expansion, and new income sources for multi-party commerce.
- Shopify Plugin Official Shopify integration that enables Shopify store owners to power up their stores with PayRex Payments, accepting payments directly through Shopify checkout.
Quantifiable outcome
- Reduce cart abandonment with sub-minute payment completion
- +2 more outcomes
Companies that use PayRex
Customer profileNamed customers13 records
Segments4 records
Ideal customer profiles4 records
PayRex technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature8 records
PayRex partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- BilleasecoreBillease, a leading Buy Now, Pay Later (BNPL) platform in the Philippines, partnered with PayRex to enable merchants to offer installment payment options via a single API integration. The partnership aims to increase sales and average order value for merchants by providing flexible credit options to consumers.
Scale indicators4 records
Recent moves5 records
Expansion highlights4 records
PayRex competitors and assessment
Company assessmentBroad incumbents
- Stripe: Global API-first payment gateway whose REST APIs, SDKs, and Checkout/Hosted flows are the design template PayRex mirrors. While not yet a major Philippine acquirer, Stripe competes for cross-border merchants and developer mindshare in the region.
- Adyen: Global unified commerce payment platform serving large enterprise merchants. Competes for the same SM-group/Crate & Barrel-tier customers that PayRex targets in the Philippines with a multi-region acquiring footprint.
- GCash: Dominant Philippine e-wallet that PayRex integrates with but that also offers merchant acquiring via GCash Direct. A platform incumbent with massive consumer reach that can disintermediate gateway players.
- 2C2P: Southeast Asia payment platform acquired by Ant Group, offering gateway, acquiring, and alternative payments across the region. Competes with PayRex for enterprise merchants operating across Southeast Asia including the Philippines.
- Maya (PayMaya): Philippines digital bank and payments platform offering cards, e-wallet, and acquiring services. Competes with PayRex on merchant payment acceptance while bundling consumer financial services that PayRex does not offer.
Direct peers
- DragonPay: Philippines-focused online payment gateway offering cash, bank, and e-wallet payment options through a single API. Directly competes with PayRex for Philippine merchants needing alternative payment method breadth.
- PayMongo: Philippines-based API-first payment gateway that processes online card and e-wallet payments for local merchants. PayMongo is PayRex's closest direct competitor and was founded by executives who later went on to found PayRex.
- HitPay: Singapore-headquartered all-in-one payment platform for SMBs in Southeast Asia offering online, in-person, and billing tools. Closely comparable SMB-focused product breadth and self-serve GTM motion, though focused on Singapore rather than the Philippines.
- Xendit: Southeast Asia-focused API-first payment platform serving the Philippines, Indonesia, and other regional markets with cards, e-wallets, and virtual accounts. Comparable in developer-first architecture, breadth of payment methods, and SMB-to-enterprise go-to-market.
Emerging players
- BillEase (Fuse Financing): Philippine BNPL provider partnered with PayRex since January 2026. Adjacent rather than direct: BillEase extends credit to consumers while PayRex routes the merchant-side payment, so they are ecosystem partners that could either deepen integration or compete for merchant payment share.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
PayRex social profiles
Digital presencePayRex compliance and trust
Trust signalCompliance2 records
PayRex financial estimates
Financial estimateRevenue estimate
Valuation estimate
PayRex leadership team
Management profileNumber of profiles
Profiles2 records
PayRex funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PayRex 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 PayRex
What does PayRex do?
PayRex operates an API-first payment gateway platform that enables Philippine businesses to accept online and in-person payments via a single integration. The platform supports multiple payment methods (credit/debit cards, GCash, Maya, QRPh) and offers hosted Checkout, embeddable Elements UI components, no-code Pages, Static QR Ph for in-person payments, and add-on modules for Billing Statement automation, Finance Automation, and marketplace payment orchestration. The service is PCI DSS compliant and regulated by the Bangko Sentral ng Pilipinas.
Is PayRex a public or private company?
PayRex is a private company. It is classified as corporate owned and is currently operating.
When was PayRex founded?
PayRex was founded in 2023. It employs 11 to 50 people.
Where is PayRex based?
PayRex is headquartered in Pasay, Philippines, in the Asia region.
How does PayRex make money?
Two revenue lines are on record. Payment Processing Fees are the primary driver. The others are payout Settlement.
Who are PayRex's main competitors?
Broad incumbents on record are Stripe, Adyen, GCash, 2C2P and Maya (PayMaya). Direct peers are DragonPay, PayMongo, HitPay and Xendit. BillEase (Fuse Financing) is listed as an emerging player.
Does PayRex have an API?
Yes. PayRex offers a RESTful API with Payment Intents architecture for processing online payments. The API supports multiple payment methods including credit/debit cards, GCash, Maya, and QRPh. It provides server-side SDKs in Node.js, Ruby, Python, and PHP, along with client-side PayRex.js library. Webhooks enable real-time event notifications for payment status updates. Test mode available with sandbox environment for integration testing. Developer documentation is at docs.payrex.com.
What industry is PayRex in?
PayRex's product category is Payment Processing / Online Payment Gateway. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of FSAMABAA, Integrated Payment Processors (PSP/Acquirer). Its NAICS code is 52232 and its SIC code is 6199.