Flywire

Payment service provider · Boston, United States

Flywire is a Boston company on the Nasdaq that collects cross-border payments for organisations whose customers pay from abroad: universities and schools, hospitals, travel operators and B2B sellers. Payers send money locally in their own currency and Flywire settles the institution in its own, across more than 140 currencies and more than 240 countries and territories. It reported fourth quarter 2025 revenue of USD 157.5 million and payment volume of USD 9.3 billion, with total assets of USD 1.25 billion and about 1,400 staff at 31 December 2025. Local entities hold payment institution licences in the United Kingdom, Lithuania and Australia, money transmitter licences in 45 US jurisdictions and registrations in Canada, Singapore, Hong Kong and Indonesia. A company buys collection and billing here, not a bank account.

Legal name: Flywire Corporation
Regulated by: FinCEN and 45 US state and territory money transmitter regulators, FCA (United Kingdom, authorised payment institution), Bank of Lithuania (authorised payment institution since September 2019, EEA passport), ASIC (Australia), MAS (Singapore, Major Payment Institution licence approved), FINTRAC (Canada, money services business), Hong Kong money service licensing, Indonesian foreign Electronic System Organizer registration
Licence confirmed: yes, on a regulator's own list
Established: 2011
Website: www.flywire.com

Scores, 0 to 10

7.0Customer satisfaction

Trustpilot rates Flywire 4.0 out of 5, in its Great band. · source

6.5Europe (EU, EEA, Switzerland)

Flywire Europe UAB is an authorised payment institution licensed by the Bank of Lithuania since September 2019 with the right to passport its services to other EEA member states. · source

6.5United States

Registered with FinCEN as a money services business and holding money transmitter licences in 45 US jurisdictions, with Flywire Global Corp. named as the licensed money transmitter, but no bank charter and no FDIC-insured account. · source

6.5Asia-Pacific (SG, HK, AU, JP, KR)

Licensed in Australia under ASIC, approved for a Major Payment Institution licence by MAS in Singapore, licensed in Hong Kong for money service and running Flywire G.K. in Japan and Flywire (Singapore) Pte. Ltd. · source

6.5Cross-border payments, FX and multi-currency accounts

More than 140 currencies across more than 240 countries and territories with local collection and exchange rate protection, and USD 9.3 billion of payment volume in the fourth quarter of 2025, but no published FX margin. Collection in more than 140 currencies with ERP and CRM integrations and an API, but the client holds no account with Flywire, so there is no cash pooling, hedging line or multi-country account structure. · source

6.5Financial strength & stability

Nasdaq-listed with total assets of USD 1.25 billion at 31 December 2025, up from USD 1.12 billion, and fourth quarter net income near break-even after a loss a year earlier, but no credit rating and no deposit insurance. · source

6.0United Kingdom

A local Flywire entity is licensed as an authorised payment institution regulated by the FCA, but that is a payment licence rather than a bank licence, so there is no UK business current account. · source

6.0Foreign-owned & non-resident companies

The network is built for payers abroad, reaching more than 240 countries and territories, and clients are contracted through local entities in nine jurisdictions, but no accepted-country list for foreign-owned client companies is published. · source

6.0Accept crypto payments

Clients can let payers settle invoices in USDC or USDT in selected countries, with a partner (BVNK per a 2025 report) converting to fiat and Flywire paying the client in local currency; the CEO said in May 2026 the programme is live across more than 1,000 clients but volume is small. · source

5.0Canada

Registered as a money services business with FINTRAC and running Flywire Payments Canada, Inc. as a merchant of record, but no OSFI licence and no Canadian business account. · source

5.0Fintech companies that need a partner bank

Flywire offers pay-by-link, checkout and API integrations plus partner programmes in each vertical, but it provides no safeguarding accounts, BIN sponsorship or rail access to other payment firms. · source

5.0Online businesses: e-commerce and SaaS

Flywire entities act as merchant of record for card transactions and offer checkout and pay-by-link, but the collection network is built for tuition, medical bills, travel and B2B invoices rather than for general online retail or marketplace payouts. There is an API, pay-by-link, checkout and ERP and CRM integrations plus the Invoiced accounts receivable platform for recurring billing, but no receiving account in the software company's own name and no revenue-based financing. · source

5.0Stablecoins (USDC, USDT and others)

Clients can accept USDC and USDT with fiat settlement through a third-party digital asset partner, but they cannot hold stablecoins or pay suppliers in them, and the CEO said in May 2026 that stablecoin payouts were still being evaluated. · source

4.5Latin America, Africa & South Asia

Registered as a foreign Electronic System Organizer in Indonesia and subject to Reserve Bank of India rules in its terms, but the 10-K names no licensed entity in Latin America or Africa. · source

4.5Fast digital onboarding

Clients are institutions signed through enterprise sales with a demo request rather than an online application, and no time to go live is published. · source

4.0Lowest fees

No price list is published for clients or payers; the 10-K says pricing sits inside multi-year client contracts and the site only offers a demo request. · source

3.0Crypto-friendly bank

Flywire publishes no policy on onboarding crypto exchanges, brokers or VASPs; the named verticals are education, healthcare, travel and B2B and it holds no bank charter to give them accounts. · source

3.0Startups & VC-backed companies

The client base is universities, hospitals, travel operators and established B2B sellers signed on multi-year contracts; there is no startup programme, venture debt or pre-revenue path. · source

3.0High-risk verticals (iGaming, cannabis, adult, forex)

Flywire publishes no acceptable-use or prohibited-activities policy on gambling, cannabis, adult or forex clients; its stated verticals are education, healthcare, travel and B2B. · source

2.5Best interest on business balances

Flywire held USD 310.8 million of funds payable to clients at 31 December 2025 but pays no interest on them and offers no savings or treasury sweep product. · source

2.5Off-ramp: crypto to fiat in a business account

Stablecoin payments from a client's customers reach the client as fiat, but a business cannot sell its own crypto through Flywire, and conversion sits with the third-party partner. · source

2.0Trade, manufacturing & import-export

Flywire acquired the Invoiced accounts receivable software and serves B2B billing, but issues no letters of credit, guarantees or documentary collections and offers no supply-chain finance. · source

2.0Business cards (Visa, Mastercard)

Flywire entities act as merchant of record to accept cards from payers, but issue no business debit or credit card to their clients. · source

1.5On-ramp: buy crypto with fiat

Flywire moves payer money to education, travel, healthcare and B2B clients and has no way for a business to turn fiat into crypto; this is a platform limit rather than a stated ban. · source

1.0Crypto wallet and custody for a business

Flywire's Q2 2026 10-Q states it does not buy, sell, receive, transmit, custody or hold digital assets and operates only in fiat, so no client can hold crypto with it. · source

1.0Bitcoin

Flywire's crypto payment option covers only USDC and USDT, with no bitcoin acceptance, custody or transfer, checked September 2026. · source

1.0Ethereum

No ether acceptance, custody or staking is offered; the payment option covers only the USDC and USDT stablecoins, checked September 2026. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.