Payrix

About Payrix

Payrix, now known as Worldpay for Platforms, operates as a specialized provider of embedded payment solutions tailored for vertical software-as-a-service (SaaS) companies, online marketplaces, and e-commerce platforms. The company's core business revolves around enabling these software businesses to integrate payment processing directly into their own platforms, thereby transforming a potential cost center into a profit center. This is achieved by offering a flexible, API-driven platform that allows clients to monetize their payment flow and maintain control over the user experience.

The company was founded in 2015 by Boruch Greenberg, who had an extensive background in commerce, credit, and payments. He was joined by co-founder Benny Silberstein, who served as Chief Strategy Officer. A significant milestone occurred in February 2022 when financial technology leader FIS acquired Payrix, integrating it into its Worldpay from FIS business to enhance its embedded payments strategy for small- to medium-sized businesses (SMBs). Prior to the acquisition, Payrix had secured substantial funding, including a $22 million round in 2018 and a Series A extension to over $50 million in 2020, with key investors being Blue Star Innovation Partners and Providence Strategic Growth (PSG). In October 2020, Payrix expanded its global footprint by acquiring IntegraPay, a Brisbane-based payment service provider, which facilitated its launch into Australia and New Zealand.

Payrix's product suite is designed to be highly customizable and scalable. It offers clients the choice between payment facilitation-as-a-service (PFaaS), where Payrix handles much of the complexity, or a full payment infrastructure-as-a-service (IaaS) for clients desiring more control. Key features include fully digital and automated onboarding, compliance, billing, settlement, chargeback management, and reporting. The platform supports multiple currencies and integrates with enterprise systems like Salesforce and Xero. This allows a software company to offer a seamless, white-label payment experience under its own brand, such as the 'NeonPay' solution created for its client Neon One. The business model primarily targets SMBs and vertical SaaS providers who want to capitalize on embedded payments without shouldering the entire burden of becoming a registered payment facilitator themselves.