“Can a multi-currency SMB account replace traditional banking infrastructure for cross-border businesses through API-first embedded finance?”
Founded in 2018, Banpay started as a multi-currency account provider for businesses seeking to manage global transactions outside traditional banking. The company expanded its offering to include business cards, spend management, mass multi-currency payouts, and embedded treasury solutions via API. With presence in Canada, Mexico, and Spain, Banpay positions itself as an all-in-one financial infrastructure for cross-border SMBs.
Banpay discloses Community Federal Savings Bank as its banking provider, according to the Embedded Finance Index 2026.
Banpay does not disclose a bank charter of its own; its banking services are provided through Community Federal Savings Bank.
The Embedded Finance Index 2026 maps 2 layers in Banpay's stack: Banking / BaaS (Community Federal Savings Bank); Sponsor bank (Community Federal Savings Bank).
Banpay is founded in 2018 and headquartered in Vancouver, British Columbia, Canada.
Get a read on where your own stack stands against Banpay and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.