AiraPay

What AiraPay does

AiraPay is the primary operating brand of AIRA Group Inc., a privately held Canadian corporation founded in 2023, and provides regulated cross-border payment infrastructure connecting Canada and India through live corridors, with an active US-India route and an Africa expansion via the Cenne JV. The platform is built and licensed in-house across BaaS Core (white-label payment infrastructure with PSP and FINTRAC licensing, PCI DSS compliance, and a single API), Cross-Border Rails (proprietary CA-IN and US-IN corridors supporting 40+ currencies with live FX pricing and a T+0 settlement roadmap via the ByteX stablecoin rails JV), and an institutional OTC Settlement desk aggregating 10+ crypto-fiat exchanges with zero-slippage execution and 24/7 operations. The firm holds three active licenses across two jurisdictions (Bank of Canada PSP under the RPAA, two FINTRAC MSB registrations for AiraPay and ByteX) and operates India through subsidiary FinGenie Tech Pvt. Ltd., which holds an India Payment License; Cenne carries VASP licensing in Africa. AiraPay monetizes through usage-based corridor access fees for MSBs and FX operators, subscription-style multi-year contracts for white-label BaaS embedding, and transaction-fee partner-led programs for stablecoin settlement, OTC desk access, and Africa expansion. The go-to-market is enterprise field sales with NDA-protected pricing targeting MSBs, FX operators, fintech platforms, and financial institutions, supported by a partner ecosystem that includes BMO for institutional liquidity, Apaylo for Canadian real-time rails, and Persona and Hyperverge for KYC/identity verification; the platform went live in May 2026 with reported $3.6B CAD processed since launch and $1.2B CAD annualized processing volume.

Name

AiraPay

Legal name

AIRA Group Inc.

Website

https://airapay.io

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

AiraPay, the operating brand of AIRA Group Inc., provides regulated cross-border payment infrastructure, white-label BaaS, and institutional OTC settlement connecting Canada, India, the US, and Africa for MSBs, FX operators, fintech platforms, and financial institutions.

Ownership category

akta.pro rank

Product category

Cross-Border Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro primary industry

Cross-Border & FX Payments Platforms (BPAMAFAK)

akta.pro secondary industries

Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), Crypto Payment Gateways & Checkout APIs (FSADAIAA)

Keywords

• Cross-border payments
• BaaS infrastructure
• Stablecoin settlement
• FX operations
• Payment processing

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Corridor Access Fees: Usage-based pricing for MSBs, FX operators, and fintechs using Canada-India and US-India routes. Volume-based commercial model for live corridor access, FX operations, and compliance reporting.
2. BaaS Infrastructure: White-label custom pricing for platforms embedding AiraPay rails, onboarding, accounts, and compliance workflows. Dedicated implementation with API-based payment infrastructure and enterprise support.
3. Strategic Programs: Partner-led revenue from stablecoin settlement, OTC desk access, and Africa expansion partnerships. Includes OTC settlement desk access, stablecoin rails roadmap, and Africa market entry programs.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

AiraPay provides regulated cross-border payment infrastructure connecting Canada and India through proprietary live corridors, combined with white-label Banking-as-a-Service (BaaS), institutional OTC crypto-fiat settlement, and stablecoin settlement rails via ByteX. The stack supports 40+ currencies, PSP and FINTRAC licensing, PCI DSS compliance, and is delivered through a single unified API for MSBs, FX operators, fintech platforms, and financial institutions.

Product overview

AiraPay offers a unified platform architecture comprising four core products: BaaS Core (white-label payment infrastructure with PSP and FINTRAC licensing), Cross-Border Rails (proprietary CA-IN and US-IN corridors supporting 40+ currencies), OTC Settlement (institutional crypto-fiat OTC with 10+ exchange aggregation), and Africa/Cenne (African payment corridor expansion). The platform is complemented by ByteX stablecoin settlement rails. All products share a single unified API and regulatory infrastructure, allowing institutional clients to access BaaS, FX, compliance reporting, and cross-border settlement through one integrated stack.

Differentiator

Problem solved

Functional benefit

Brands

• ByteX: AIRA Group strategic JV in Canada launching H2 2026 with stablecoin settlement rails and T+0 roadmap.
• Cenne
• FinGenie Tech Pvt. Ltd.

Products and services

• BaaS Core White-label Banking-as-a-Service infrastructure providing PSP + FINTRAC licensed payment rails, PCI DSS compliant processing, and a unified API for onboarding, accounts, and compliance workflows. Built for fintech platforms that need to embed regulated payment infrastructure without building it from scratch across multiple jurisdictions.
• Cross-Border Rails Proprietary cross-border payment corridors connecting Canada-India and US-India routes, supporting 40+ currencies with multi-currency settlement, live FX pricing, and T+0 settlement roadmap via ByteX stablecoin rails. Designed for MSBs, FX operators, fintech platforms, and financial institutions.
• OTC Settlement Institutional crypto-fiat over-the-counter desk providing 10+ exchange aggregation, zero slippage execution, and 24/7 settlement for stablecoin and fiat operations. Designed for crypto operators and financial institutions bridging fiat and stablecoin flows through compliant operating entities.

Quantifiable outcome

• 3-7% legacy fees reduced through AiraPay's institutional corridor pricing
• +3 more outcomes

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• ByteXcoreStrategic or Co-development PartnerStrategic JV within AIRA Group. ByteX brings multi-jurisdiction stablecoin settlement rails to the AIRA Group stack. Launching H2 2026 with T+0 settlement roadmap and FINTRAC MSB already active. Part of coordinated group structure spanning live payment rails and stablecoin settlement.
• CennecoreStrategic or Co-development PartnerStrategic JV extending AIRA Group into Africa. Cenne is live across Africa providing regulated payment services and digital payment corridors. Part of the AIRA Group coordinated structure for Africa expansion.

Scale indicators9 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• BVNK: UK-based cross-border payments and stablecoin settlement provider for enterprises. AiraPay explicitly benchmarks its regulatory moat against BVNK's single UK EMI license (acquired by Mastercard for $1.8B in 2026), making BVNK the closest functional and stage analog.
• Remitly: Digital remittance platform with strong share of US-to-India and Canada-to-India corridors. Directly competes for the same MSB and FX operator clients AiraPay targets, with established institutional liquidity and consumer brand.
• Circle: USDC issuer and stablecoin payment infrastructure provider. Comparable to AiraPay's ByteX stablecoin settlement rails and OTC crypto-fiat operations, with broader US regulatory footprint and enterprise stablecoin API.
• Unit.co: White-label banking-as-a-service platform with embedded accounts, cards, and payments. Closest direct peer to AiraPay's BaaS Core offering targeting fintech platforms embedding regulated payment infrastructure.
• Treasury Prime: BaaS infrastructure provider connecting fintechs to bank partners via APIs. Comparable to AiraPay's BaaS Core for platforms seeking embedded compliance, accounts, and payment rails.
• Thunes: Cross-border payment network specializing in emerging-market corridors including India and Africa. Comparable corridor focus (emerging markets, remittance, MSB flows) and regulatory licensing footprint to AiraPay.

Broad incumbents

• Wise: Global cross-border payments incumbent serving consumers and businesses across 40+ currencies with multi-currency accounts. Competes with AiraPay's CA-IN and US-IN corridors at the consumer/SMB remittance layer with deeper liquidity and brand.
• Ripple: Enterprise crypto and cross-border payment network via RippleNet and Ripple stablecoin (RLUSD). Competes with AiraPay/ByteX for institutional cross-border settlement, with deeper bank partnerships and regulatory licensing.
• Payoneer: Cross-border B2B payments and mass-payout platform serving marketplaces, freelancers, and SMBs. Competes with AiraPay's BaaS and cross-border rails for India corridor payouts and platform-embedded payment use cases.
• dLocal: Cross-border payments platform for emerging markets covering India, Africa, and Latin America. Directly comparable in corridor coverage ambition and MSB/platform client base, with deeper geographic breadth and public-company scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/airapayments

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

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 AiraPay