“Can a telecom-backed fintech subsidiary build a digital wallet with 20,000+ users by abstracting away sensitive payment data for everyday online payments?”
ZoomPay was founded in 2021 as a subsidiary of G and W Telecom, positioning itself as a financial technology app rather than a telecom product. It operates as a digital wallet enabling users to pay and get paid online without sharing sensitive financial information. The company relies on Evolve Bank & Trust as its banking sponsor and Stripe for payment processing infrastructure, following the standard BaaS-powered fintech playbook for early-stage consumer fintech apps.
Zoompay discloses Evolve Bank & Trust as its banking provider, according to the Embedded Finance Index 2026.
Zoompay does not disclose a bank charter of its own; its banking services are provided through Evolve Bank & Trust.
Zoompay processes payments through Stripe.
The Embedded Finance Index 2026 maps 3 layers in Zoompay's stack: Payments / PSP (Stripe); Banking / BaaS (Evolve Bank & Trust); Sponsor bank (Evolve Bank & Trust).
Zoompay is founded in 2021 and headquartered in United States.
Get a read on where your own stack stands against Zoompay 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.