Overview
UQPAY, at a glance.
UQPAY is a payment institution group (singapore, us, hong kong, australia) headquartered in Singapore, regulated by Monetary Authority of Singapore, FinCEN, Arkansas Securities Department and 3 other regulators. The company behind UQPAY is UQPAY Pte. Ltd. Business accounts cost $0 a month. Opening an account takes 3–5 days.
UQPAY is not a bank. Funds are held with unnamed global financial partners; UQPAY Pte. Ltd. is a MAS-licensed major payment institution. No deposit protection scheme is mentioned.
Why businesses pick UQPAY
- Named local receiving accounts in USD, EUR, GBP, SGD and AUD
- A $0 Basic plan and a $69 Pro plan
- FX from 0.25% and local transfers from $0.2
- Payouts in 54 currencies on Basic and 140 on Pro
- Visa virtual and physical cards with cashback
- Licensed in Singapore, the US, Hong Kong and Australia
Watch out for
- Accepted countries, owner rules and the opening time are not published
- SWIFT payments cost $15 to $35
- Charities and non-profits need UQPAY's explicit consent
- Casinos, lotteries and online gambling need approval; adult, illegal gambling and several other lines are prohibited
- Trustpilot has no profile
Business fit
Will UQPAY accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on UQPAY's published rules
Needs review
UQPAY works with Cross-border e-commerce, but does not publish the countries it accepts companies from.
UQPAY does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What UQPAY publishes about the businesses it takes on.
Who UQPAY serves
- E-commerce
- Import and export
- Marketplaces
- Startups and SMEs
All 5 industries on UQPAY's accepted list
- Cross-border e-commerce
- Global brands
- Trading companies
- Multi-entity groups
- Businesses paying overseas suppliers or employees
Not supported
Industries and countries UQPAY does not accept, from its own published lists.
Industries
- adult entertainment and its affiliated services, inclusive of pornography, services of sexual nature (e.g. escort services, prostitution services), establishments that are sexually oriented and any form of advertising related to sexual services;
- gambling services in regions where such activities are illegal or where gambling services are provided without the requisite permits or licenses;
- counterfeit or unauthorised goods, products, or services that violate the intellectual property or proprietary rights of third parties;
- manufacturing, sales, or supplies related to arms and weapons;
- offering, facilitating, or otherwise engaging in activities constituting regulated financial services (as defined under applicable laws or regulations), whether directly or indirectly without a valid license, registration, or authorisation from the competent regulatory authority;
- sale and/or distribution of any product or service without the essential permit or license as mandated by the governing authorities or statutory boards;
- sale and/or distribution of products or services promoting or fostering discrimination based on race, gender, religion, nationality, disability, sexual orientation, or age;
- activities associated with Ponzi/ Pyramid Scheme/ Multi-Level Marketing/ Telemarketing;
- trade involving restricted and/or endangered animal species and products derived from them;
- sale, distribution, and/or trade of cultural property, artefacts, or relics, including any items of archaeological, historical, and cultural significance, whether or not such activities are licensed of permitted under applicable laws;
- transactions lacking genuine commercial intent, such as pooling funds among multiple parties or cashing out credit or stored value cards; or
- any other businesses or transactions falling outside our risk tolerance as outlined by our internal policies, those of our banking partners, or participants within our payment network.
Countries
- Not published
Coverage
Where can you use UQPAY?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
Hold 5, pay out in 54 to 140
Hold and receive · 5 currencies
- EUR
- USD
- GBP
- AUD
- SGD
54 payout currencies on Basic, 140 on Pro; the payout list is not published.
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Not publishedPricing
What does UQPAY cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
$0–69
depends on plan
Basic
Lowest cost$0 per month
$0 setup · $0 in year one
Pro
$69 per month
$0 setup · $828 in year one
Enterprise
Custom
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Outgoing | ||
| SWIFT / international | From $15 | Fixed fee · $15 to $35 depending on SHA or OUR |
| Local transfer to another bank | From $0.2 | Fixed fee |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | From 0.25% | Percentage of the amount |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Virtual card issue | Not published |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Sign up
Register at app.uqpay.com.
- 2
Business verification
Complete KYB in the web dashboard.
- 3
Approval
UQPAY reviews the application; no timeframe is published.
- 4
Account live
Open receiving accounts and order cards from the dashboard.
Documents you need
Not published
FAQ
Your questions, answered.
Is UQPAY a bank?
No. UQPAY Pte. Ltd. is a Major Payment Institution licensed by the Monetary Authority of Singapore (PS20200641), with group licences in the US, Hong Kong and Australia.
How much does UQPAY cost?
The Basic plan is $0 a month and Pro is $69 (first month free). Local transfers start at $0.2, SWIFT payments cost $15 to $35 and FX starts at 0.25%.
Which currencies can I hold?
USD, EUR, GBP, SGD and AUD, with payouts in 54 currencies on Basic and 140 on Pro.
Which businesses does UQPAY not accept?
Its list includes adult entertainment, illegal gambling and gambling without permits, and other restricted lines. Casinos, lotteries and online gambling need UQPAY's explicit approval.
Alternatives
How UQPAY compares.
If UQPAY is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
UQPAYThis pagePayment institution group (Singapore, US, Hong Kong, Australia) | Multi-currencyVisa cards | |
AirwallexE-money institution | Global accountsOnline businesses | |
Wise BusinessE-money institution | Low FX costsStandard businesses | |
PayoneerE-money institution | Marketplace payoutsMass payments | |
EburyE-money institution | FX and hedgingInternational trade |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.






