Spayz.io
- Founded
- 2020-01-01 in Victoria, Canada
- Headquarters
- Cyprus
SPAYZ.io is a global payment service provider that enables online businesses in regulated, high-chargeback, and complex industries to accept payments across multiple markets. Founded in 2020 and registered as a Money Service Business in 2021, the company processes over 20 million transactions annually across 30+ countries. Headquartered in Cyprus, it specialises in the Asian, African, and European markets, offering a unified platform that includes card acquiring, bank transfers, eWallets, online banking, mobile money, QR code payments, and mass payouts. The platform is designed for high-risk verticals such as iGaming, forex, and crypto, emphasising PCI DSS compliance and localised payment methods. In 2025, SPAYZ.io expanded into South Africa, Egypt, and Cameroon with EFT bank transfers and mobile money solutions, and was nominated for the “Emerging Markets Payment Solution 2025” award at SIGMA Africa. The company employs 51–200 people and describes itself as a public company, though its leadership remains largely undisclosed.
Detailed Review
Business Model
SPAYZ.io operates as a Payment Service Provider (PSP) and payment gateway that caters specifically to high-risk and regulated industries. Its core revenue stream comes from transaction fees on payment processing for merchants in sectors like iGaming, forex, and cryptocurrency, where traditional banks often decline accounts. By offering a unified API that connects to multiple local payment methods, the company reduces friction for merchants expanding into emerging markets.
Products & Platform
SPAYZ.io provides a comprehensive set of payment products accessible through a single integration: Payment Gateway (cards, eWallets, mobile money, bank transfers, online banking, QR codes) that is PCI DSS compliant; Card Acquiring for international and high-risk merchants; Bank Transfers including local instant transfers in Asia and Africa, plus EU mass payouts under PSD2; eWallets and Online Banking popular in Asia; Mobile Money for African markets; and QR Code Payments for retail and e-commerce. The platform also offers Mass Payouts for bulk disbursements to EU beneficiaries.
Geographic Reach & Recent Expansion
The company reports a presence in 30+ countries, with a strong focus on Asia, Africa, and Europe. In May 2025, SPAYZ.io announced planned launches in South Africa (EFT bank transfers), Egypt, and Cameroon (mobile money). Dmitrii, Head of Strategic Partnerships, stated that the expansion was driven by research into local market needs, and the company participated in the Finance Magnates Africa Summit to build partnerships.
Compliance & Licensing
SPAYZ.io is registered as a Money Service Business (MSB) under registration number M21035207, registered on 20 October 2021. It emphasises PCI DSS compliance for its payment gateway and PSD2 compliance for EU mass payouts. The platform reports zero lost customer funds and claims a “fast and secure” infrastructure model.
Market Position & Awards
SPAYZ.io was nominated as Emerging Markets Payment Solution 2025 at the SIGMA Africa awards. Its LinkedIn page lists 51–200 employees and over 26,000 followers, indicating a growing presence. Despite being labelled “unfunded” by Tracxn, the company continues to expand its geographical footprint, positioning itself as a specialist for high-risk merchants in emerging regions.
Leadership
Publicly available sources do not list any C-level executives (CEO, CTO, COO, CFO, or founders) for SPAYZ.io. The only named individual is Dmitrii, who holds the role of Head of Strategic Partnerships. No surnames or other board members are confirmed, leaving the executive team undisclosed.
Key Products
Mobile Money
Accept and send payments via local mobile money operators in Africa, e.g., M-Pesa, Airtel Money.
eWallets
Integrate popular Asian and African e-wallets such as GCash, PayTM, and Alipay for online and in-store transactions.
Bank Transfers
Enable instant local bank wiring across 30+ countries with full transparency.
Mass Payouts
EU-connected bulk payout service compliant with PSD2, unlocking real-time financial data.
Card Acquiring
Process Visa, Mastercard, and other card payments, including high-risk merchant accounts.
Payment Gateway Integration
Flexible API and hosted checkout with full PCI DSS compliance for fast onboarding.
Back Office Workspace
Unified dashboard for monitoring transactions, managing agents, reviewing commissions, and real-time analytics.
Online Banking
Allow users to complete transactions directly from their bank accounts via online portals.
QR Code Payments
Generate secure QR codes for instant, device-less payments.
Open Banking
API‑based account‑to‑account payments for secure data sharing.
Payment Gateway
A flexible API-based gateway that accepts cards, eWallets, mobile money, bank transfers, online banking, and QR code payments, PCI DSS compliant.
Offices & Headcount
125 employees (approx.)