Paycode vs TerraPay
Paycode
Giving biometric identity and affordable access to basic financial services to the unbanked and underserved
42 employees · est. 2016 · Johannesburg, South Africa
TerraPay
Global payment solutions for your local payout needs
705 employees · est. 2014 · London, United Kingdom
TerraPay is the older company (2016 vs 2014); TerraPay is the larger of the two.
Side-by-Side Comparison
| Metric | Paycode | TerraPay |
|---|---|---|
| Founded | ||
| Founded | 2016 | 2014 older |
| Headquarters | ||
| Headquarters | Johannesburg, South Africa | London, United Kingdom |
| Employees | ||
| Employees | 42 | 705 larger |
| Industry | ||
| Industry | Financial Services, Fintech, Mobile | Financial Services, Fintech, Payments |
| Funding Stage | ||
| Funding Stage | Not tracked yet | Acquired |
| Total Funding | ||
| Total Funding | Not tracked yet | $212.70M |
| Funding Rounds | ||
| Funding Rounds | 1 | 5 |
| Services | ||
| Services | Biometric digital identity issuance, Offline real-time payments, Integration with financial services infrastructure, Seamless interoperability between financial systems, Digital financial solutions | Cross-Border Money Movement, Payment Network Integration, Swift Connectivity, Real-Time Payment Deliveries, Merchant Services |
| Target Customers | ||
| Target Customers | Unbanked individuals, Underserved communities, Governments, Central banks, Commercial banks, Non-Governmental Organizations (NGOs), Donor organizations | Money Transfer Organizations, Banks and Financial Institutions, Digital Wallet Providers, Platforms and Marketplaces, Sellers and Gig Workers |
| Taxonomy | ||
| Taxonomy | Biometric IdentityFinancial InclusionPayment GatewaySecurity TechnologyBiometric IdentificationFraud Prevention +9 | Global Payment SolutionsCross-border PaymentsMobile WalletsPayment ProcessingRegulatory ComplianceFinancial Interoperability +8 |
| Website | ||
| Website | paycode.com | terrapay.com |
About Paycode
Paycode is a South African-based fintech enterprise established in 2016, dedicated to revolutionizing financial inclusion. Their core mission, "Giving biometric identity and affordable access to basic financial services to the unbanked and underserved," highlights a commitment to providing seamless...
About TerraPay
TerraPay simplifies global money movement by providing payment solutions to diverse financial players such as banks, digital wallets, and fintech platforms. Based in London, United Kingdom, the company operates globally, connecting partners to an extensive network of mobile wallets, bank accounts, a...
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Related Comparisons
Compiled from the BounceWatch company index. We last looked at Paycode on 29 Mar 2026, and TerraPay on 31 Oct 2026. Where a field is blank here, it means we have not recorded it — not that the answer is zero. How we source and date this.
