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Qualpay

“Can a white-label, API-first payment processing platform owned by a sponsor bank become the embedded finance infrastructure of choice for ISVs across legacy and vertical markets?”

Founded2014
HQSan Mateo, CA, USA
Latest roundAcquired by Synovus Bank (strategic investment, ~60% ownership), April 2022
IndustryInfrastructure / Payments
The story

Founded in 2014 as a cloud-based payment gateway and merchant processing platform targeting ISVs and merchants needing flexible, API-first payments. In 2022, Synovus Bank acquired a ~60% strategic stake in Qualpay and repositioned the company as the payment technology engine behind Maast, Synovus' money-as-a-service platform combining payment processing, banking, and lending solutions for ISVs. Qualpay now operates as an acquired/operating subsidiary, offering ISVs a 'Payfac-in-a-box' and full Payment Facilitator pathway alongside Banking-as-a-Service capabilities, bridging legacy industries to modern embedded finance infrastructure.

Last 12 months
2022-04
Product timeline
2014
Qualpay founded in San Mateo, CA as a cloud-based payment processing platform for merchants and ISVs.· pivot
2022
Synovus Bank announces strategic investment acquiring ~60% ownership of Qualpay to power Maast, Synovus' money-as-a-service offering combining payments, banking, and lending.· acquisition
2022
Qualpay becomes the payment processing backbone for Maast, Synovus' embedded finance platform targeting ISVs.· banking
The stack
3 layers disclosed in Qualpay’s embedded-finance stack
Payments / PSP
Qualpay Payment Gateway (self-operated)Qualpay Hosted Checkout (self-operated)Qualpay Embedded Fields (self-operated)Qualpay ACH Payments (self-operated)Qualpay Aggregated Payments / Payfac-in-a-box (self-operated)
Banking / BaaS
in the full report
Sponsor bank
in the full report
Accounting gap: significant
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.