Spayz.io
- Founded
- 2020-01-01 in Victoria, Canada
- Headquarters
- Nicosia, Cyprus
SPAYZ.io is a global payment service provider (PSP) founded in 2020 that builds payment infrastructure for complex, regulated, and high-chargeback industries, with a strong focus on emerging markets in Asia, Africa, and Europe. Headquartered in Nicosia, Cyprus, the company enables online businesses to accept payments through a range of localized methods including bank transfers, eWallets, mobile money, online banking, QR code payments, and card acquiring. Its platform is designed to handle high-risk verticals such as iGaming, forex, and crypto, processing over 20 million transactions annually across more than 30 countries. In 2025, SPAYZ.io expanded into three African markets (South Africa, Egypt, Cameroon) and unveiled an Open Banking update at iFX Cyprus 2025. The company operates as a public limited company with a workforce estimated between 51 and 200 employees, and has not raised external venture funding. Its single-API integration allows merchants to accept payments globally while maintaining PCI DSS Level 1 compliance and real-time fraud detection.
Detailed Review
Business Model
SPAYZ.io distinguishes itself by targeting high-risk and regulated sectors that many mainstream PSPs avoid, such as iGaming, forex, and cryptocurrency. The company provides an end-to-end payment orchestration layer that aggregates over 20 local payment methods across 30+ countries, with real-time fraud detection and PCI DSS Level 1 compliance. Its revenue model is based on transaction fees, with a focus on volume and risk management.
Products and Platforms
The core product is a single API gateway that supports diverse payment methods. Key offerings include: - Payment Gateway Integration: Accept cards, eWallets, bank transfers, mobile money, QR, and online banking through one integration. - Mass Payouts: A bulk payout engine for EU bank accounts, compliant with PSD2. - Mobile Money: Integration with African mobile operators such as M-Pesa and MTN Mobile Money. - Local Bank Transfers: Support for EFT in South Africa and local wiring across Asia. - eWallets: Support for regional wallets like GCash and GrabPay. - Online Banking: Direct account-to-account payments. - QR Code Payments: Static and dynamic QR for point-of-sale and eCommerce. - Card Acquiring: Visa/Mastercard processing tailored for high-risk merchants.
Market Position
SPAYZ.io competes with well-capitalized rivals like Nomupay and Nuvei but differentiates through its localized approach. Rather than a one-size-fits-all gateway, it deploys method-specific rails such as M-Pesa in Africa, PromptPay in Thailand, and SEPA Instant in Europe. Its Open Banking update (2025) facilitates bank-to-bank payments in EU markets under PSD2. The company maintains a low public profile beyond press releases, with a lean operational team of about 23 visible employees on LinkedIn.
Recent Developments
In 2025, SPAYZ.io expanded into South Africa, Egypt, and Cameroon, and launched an Open Banking update at iFX Cyprus 2025. The company’s blog outlines five principles for surviving high-risk processing, reflecting deep domain expertise. It has not raised external venture funding and is listed as a Money Service Business (MSB).
Key Products
Payment Gateway
Unified API for integrating 20+ payment methods including mobile money, e-wallets, bank transfers, online banking, QR codes, and card acquiring.
Mass Payouts
Bulk disbursement to recipients in 30+ countries with local currency settlement, fully PSD2-compliant in the EU.
Open Banking
Direct bank-initiated payments without cards, enabling instant account-to-account transfers.
Card Acquiring
Visa and Mastercard processing for online transactions with dynamic routing and fraud screening.
Risk Management Suite
Real-time fraud detection, chargeback mitigation, and zero-lost-funds guarantee for approved merchants.
Multi-Currency Accounts
Virtual accounts in multiple currencies for holding and converting funds.
Mobile Money
Instant, secure transactions via mobile devices and operators, popular in Africa.
eWallets
Local eWallets enabling online and in-store payments without physical cards.
Bank Transfers
Seamless fund transfers between bank accounts with local currency support.
Online Banking
Direct account-to-account transactions via online banking portals.
QR Code Payments
Scan-to-pay functionality for fast, secure point-of-sale or online payments.
Payment Gateway Integration
A single API to accept multiple payment methods including cards, eWallets, bank transfers, mobile money, QR codes, and online banking.
Local Bank Transfers
Support for EFT in South Africa and local wiring across Asia.
Offices & Headcount
100 employees (approx.)