ecoPayz

History & Background

ecoPayz was launched in 2000 as ecoCard, initially focusing on prepaid card solutions. Over time, the company rebranded to ecoPayz to reflect its expanded suite of digital payment services, including online wallets, money transfers, and merchant processing. The company has not raised any external funding and remains bootstrapped, which has allowed it to operate with a lean team of around 13 employees. Despite its small size, ecoPayz has built a strong presence in the iGaming industry, where it competes with larger players like Skrill, Neteller, and PayPal.

Regulatory & Licensing

ecoPayz is operated by EcoPayz Georgia LLC, a registered company in Georgia (company number 406318916) with its registered address in Kutaisi. The entity holds a license from the Kutaisi Hualing Free Industrial Zone (license number 0110/481), which governs its payment services. This regulatory structure is common among iGaming payment providers, as it allows the company to offer services to international clients while maintaining compliance with local laws.

Products & Platforms

- ecoPayz Personal Account: A digital wallet that allows users to send, receive, and store money in over 45 currencies. Supports instant person-to-person transfers, bill payments, and online purchases. Can be funded via bank transfer, credit/debit cards, or local payment methods. - ecoPayz Business Account: Designed for companies that need to make mass payouts to customers, affiliates, or staff. Offers low-cost, instant cross-border payments and supports multiple currencies. Commonly used by iGaming operators for winnings payouts. - ecoPayz Merchant Account: Enables online businesses to accept payments from ecoPayz users. Includes a payment gateway that can be integrated into websites and mobile apps. Supports settlement in multiple currencies. - ecoPayz Prepaid Virtual Cards: Virtual cards linked to the ecoPayz account, allowing users to spend their balance online wherever Visa/Mastercard is accepted. (Note: actual card program details may vary by region.) - Multi-Currency Support: Accounts can hold balances in over 45 fiat and digital currencies, with intra-system transfers free of charge.

Use Cases & Industry Focus

ecoPayz is most active in the iGaming and online gambling sector, where it serves as a primary deposit and withdrawal method at hundreds of online casinos, sportsbooks, and poker rooms. It is also used in forex trading platforms, e-commerce, and peer-to-peer remittances. The platform’s appeal lies in its low fees, instant processing, and wide acceptance across high-risk merchant categories.

Competitors

ecoPayz faces competition from other iGaming-focused wallets such as Skrill, Neteller, MuchBetter, and PayPal, as well as broader fintech companies like Chipper Cash, YouTrip, and LemFi (per Tracxn ranking).

Technology & Security

The platform uses standard encryption for data protection and requires identity verification (KYC) for account activation. It offers two-factor authentication (2FA) for added security. As a regulated entity, it complies with anti-money laundering (AML) guidelines.