Embedded finance solutions: Top providers and comparison guide

Key takeaways

• Embedded finance is a revenue multiplier: 64% of US marketplaces report lower churn from embedded finance, and 51% see new revenue streams.¹

• Many successful platforms are moving away from standalone apps toward financial utility woven directly into daily workflows.

• Partnering with an embedded finance provider, such as Airwallex, that holds 85+ licenses across North America, Europe, the Middle East, and Asia-Pacific enables payouts to 200+ countries without the regulatory heavy lifting.

Everyday non-finance apps increasingly offer traditional banking products. Integrated access to banking, credit, and payments benefits both consumers and businesses. Embedded finance lets platforms serve users without sending them elsewhere, offering financial services right at checkout or exactly when needed.

These "invisible" experiences can drive significant growth. In 2022, Bain & Company forecast that embedded finance would exceed US$7 trillion in transactions by 2026, or more than 10% of the total.² Platforms treat embedded finance as a revenue multiplier because it increases customer lifetime value.²

The opportunity could keep growing through 2030. The embedded B2B payments market alone is projected to grow from US$4.1 trillion to US$15.6 trillion by 2030.³ As AI tools take on more of the work of managing liquidity and working capital, that growth could speed up further.

Why embedded finance is reshaping the global economy

From standalone banking apps to "invisible" finance

The era of jumping between a banking app and a business dashboard is over. In 2026, the most successful financial services operate invisibly. Whether an eCommerce platform offers instant merchant capital or a logistics app automates port fees, primary workflows now integrate financial utility.

How consumer expectations for "instant everything" are forcing non-fintechs to become financial hubs

Modern users lack patience for friction. If a platform cannot provide instant payouts, embedded insurance, or point-of-sale lending, users migrate to a capable "financial hub." This demand forces non-fintech companies, from healthcare portals to construction software, to adopt embedded finance solutions and stay competitive.

Comparing embedded finance providers

Top embedded finance providers

Airwallex

Airwallex provides the global infrastructure to build embedded financial products with reduced complexity. Platforms can offer multi-currency accounts, FX, card issuing, and treasury services through a single set of APIs. Airwallex holds 85+ licenses and permits globally and enables payouts to over 200 countries using local rails and SWIFT.

For platforms with international ambitions, Airwallex offers a scalable solution for collecting, holding, converting, and disbursing funds worldwide. Businesses stay in control of the customer experience, while Airwallex handles KYC, AML, licensing, and operational heavy lifting. Businesses such as TradeBridge and Meow use Airwallex to support global growth while maintaining simple financial workflows.

The Airwallex embedded finance stack includes:

• Global treasury

  Let customers collect, store, convert, and send funds worldwide. This includes local collection accounts in 70+ countries, the ability to hold 20+ currencies, and a payout network spanning more than 200 countries, including 120+ via local clearing systems. Brex and Navan both run global top-ups, FX, and payouts on this stack.

• Payments for platforms

  Programmatically create connected accounts, split funds, and accept payments in 180+ countries via 160+ local payment methods through the checkout experience. Marketplaces such as GOAT, SHEIN, and Camplify use it to collect from customers globally and pay out sellers and owners.

• Financial accounts as a service

  Embed financial products such as multi-currency accounts, cards, and lending into a platform, without needing to obtain licenses market by market.

Stripe

Stripe is a widely adopted platform for embedded payments. It offers APIs for payment acceptance, card issuing, and banking features through products like Stripe Connect and Stripe Treasury, including Managed Risk for Treasury, which automates fraud monitoring for platforms holding customer funds. These tools are popular with US-based platforms that need quick integration and developer flexibility.

Stripe supports international coverage and multi-currency payments, but costs can stack quickly at scale. International cards add a 1.5% fee, and currency conversion adds 1%, on top of standard processing fees. Businesses with high international throughput or complex treasury needs should model total cost carefully before committing.

Adyen

Adyen offers unified commerce, built for enterprise platforms that need to consolidate online, in-person, and mobile payments under one roof. Its banking license supports card issuing, business accounts, and cash advances, all within a single integration.

Adyen uses an Interchange++ pricing model, which passes through card network costs at cost and adds a transparent processing markup. This keeps pricing predictable at scale. Adyen doesn't publish a fixed monthly minimum. Instead, it sets a minimum invoice by industry and business model, negotiated with its sales team. This makes Adyen better suited for large enterprises that can commit to negotiated volume terms.

Nium

Nium helps platforms offer global payments, accounts, and card issuing without building infrastructure from scratch. Its V5 Customer Onboarding APIs and managed compliance workflows handle KYC and AML checks programmatically, reducing the manual overhead typically associated with cross-border onboarding.

Nium reaches 190+ countries, with 100+ real-time corridors. Its recent partnership with Circle adds USDC-powered stablecoin settlement into the mix, giving platforms another way to fund local payouts. Nium is geared toward financial institutions, marketplaces, and enterprise platforms expanding into new regions. Integration complexity and regional availability vary by market, and its compliance tooling suits teams with dedicated technical resources.

What are embedded finance solutions?

Embedded finance solutions are financial tools, such as personal or business bank accounts, loans, and payment processing, integrated directly into non-financial products. For instance, embedding a native payment gateway inside an interface allows a brand to keep customers in its ecosystem instead of routing them to a third-party bank.

Types of embedded finance solutions

• Embedded payments: Beyond the "Buy" button. This includes automated split payments and instant seller settlements.

• Embedded lending: Buy Now Pay Later (BNPL), working capital, and merchant financing based on real-time platform data.

• Embedded banking & cards: Issuing branded virtual cards and business accounts so users can manage cash where they earn it.

• Embedded insurance: Protection offered at the point of sale, like flight delay coverage or equipment protection.

Embedded finance examples

To understand how embedded finance works in practice, it is helpful to see how companies are already using it to solve real-world problems. From early-stage fintechs to global platforms, these examples demonstrate how embedded financial services are enabling businesses to grow faster, reduce costs, and enhance customer experiences.

TradeBridge

TradeBridge provides multi-currency funding to businesses across various sectors, including eCommerce, healthcare, and professional services. To scale globally, the team needed a way to deliver funds, collect repayments, and manage multiple currencies without relying on traditional banks.

By integrating Airwallex APIs, TradeBridge built digital wallets for each customer. These wallets make it easy to hold and convert currencies, collect repayments directly from platforms like Amazon and PayPal, and send funds in the client’s preferred currency. It also provided the team with real-time visibility into receivables, enabling them to adjust funding limits based on live trading data.

As a result, TradeBridge streamlined its entire funding process, giving it the flexibility to grow across Europe, Asia, and the US.

Thinkst

Thinkst builds security tools for enterprises, including its flagship product, Canarytokens. These small pieces of data are planted across systems to detect breaches early. Thinkst recently launched a credit card token designed to trigger instant alerts if a malicious actor tries to test or misuse card data.

Airwallex provides the infrastructure behind this innovation. With the help of Airwallex’s platform APIs and scalable BIN coverage, Thinkst can issue thousands of virtual cards and monitor activity in real-time. This protects their customers proactively against fraud, especially when operating across multiple geographies and payment systems.

These embedded security features give Thinkst's customers earlier warnings and faster response times.

Meow

Meow is a US-based neobank designed to help businesses maximize the value of their cash. Its platform offers high-yield checking accounts, access to US Treasury Bills, and tools for managing multiple accounts.

When Meow wanted to launch a new card product, it partnered with Airwallex to expedite the process. Using Airwallex issuing and embedded finance APIs, Meow launched a branded business card. With no transaction fees and fast global payout capabilities, Meow's customers can manage expenses with more flexibility and better returns.

Thanks to Airwallex’s infrastructure, Meow brought the new product to market in half the time it expected and is now well-positioned to expand its offering as customer demand grows.

Amazon

Amazon has quietly built one of the most sophisticated embedded finance ecosystems in the world. From Amazon Pay at checkout to its co-branded credit cards, financial services are deeply integrated into the customer and seller experience.

For buyers, Amazon Pay makes checkout easier and helps increase conversion. For sellers, Amazon connects eligible businesses with working capital from third-party lending partners, with offers based on their sales performance. The Prime Visa card offers cashback and keeps shoppers within the Amazon ecosystem. These services support growth across both sides of the marketplace.

Uber

Uber has embedded financial tools into its driver and rider experience to support operational efficiency and retention. Drivers can use Instant Pay to access their earnings immediately and manage day-to-day spending with an Uber debit card. They can also access micro-insurance products tailored to their needs.

By offering these services within the app, Uber provides drivers with faster access to their earnings, increased financial control, and added peace of mind. These features improve the overall driver experience and help Uber stay competitive in the gig economy.

Benefits of embedded finance

Embedded finance transforms a platform into a financial ecosystem. This drives high-margin revenue through transaction fees and interest. Integrating tools at the point of need eliminates friction, maximizes customer retention, and creates a massive data advantage over traditional banks.

Strategic benefits: retention & stickiness

• Reduced churn: When users rely on a platform for both operations (SaaS) and their money (banking), the switching cost becomes massive.

• Customer lifetime value (LTV) lift: Adding financial services moves platforms from a flat subscription fee to a model earning revenue every time a customer spends or receives money. As a16z's Angela Strange argued in 2020, nearly every company could earn a significant share of revenue from financial services.⁴ The exact LTV lift varies by platform and product mix.

• Competitive differentiation: In crowded markets, "software-only" becomes a commodity. Offering native banking or instant payouts makes a platform an indispensable "all-in-one" hub that competitors cannot easily replicate.

Financial benefits: new revenue streams

• Interchange revenue: Platforms earn a percentage of the transaction fee every time a user swipes a provided branded card.

• Lending margins: Offering merchant cash advances or BNPL generates interest and origination fees. Seeing the user's real-time sales data often allows more accurate risk underwriting than a traditional bank achieves.

• Float income: Platforms earn interest on the cash balances (the "float") that users keep in their digital wallets or business accounts.

Operational and experience benefits

• Increased conversion: Removing the friction of handing a user off to an external bank or payment site prevents cart abandonment. Integrated financing can noticeably lift checkout conversion.

• Proprietary data insights: Companies gain a 360-degree view of a customer’s financial health. This data allows offering "just-in-time" products, such as a pre-approved loan the moment a merchant’s inventory drops below a certain level.

• Automated reconciliation: For B2B platforms, embedding payments directly into the invoicing workflow eliminates manual accounting headaches. This saves users hours of work and makes the software more valuable.

Drawbacks of embedded finance

Regulatory and compliance drawbacks

• Direct liability: Platforms are often the primary point of contact for regulators. If a platform fails AML (anti-money laundering) or KYC (know your customer) checks, it faces the fines directly.

• Sponsor bank dependency: If a partner bank faces a regulatory crackdown or a cease-and-desist order, financial features can freeze instantly, regardless of the platform's own performance. Several fintech card programs have been disrupted this way, cutting off customers' access with little notice.

• Jurisdictional fragmentation: Expanding globally requires navigating a patchwork of different lending and consumer protection laws (e.g., PSD2 and the incoming PSD3 in Europe versus CFPB rules in the US).

Strategic and brand drawbacks

• Reputational contagion: If a customer has a bad experience with a frozen account or a disputed loan, they blame the brand, not the backend bank.

• Single point of failure: Relying on one BaaS provider creates massive concentration risk. If they suffer an outage or go bankrupt, the revenue stream disappears.

Financial and operational drawbacks

• Credit & default risk: Offering lending (such as BNPL) exposes the business to balance sheet losses if a significant number of users default during an economic downturn.

• Support overhead: Financial products generate high-friction support tickets. Teams must be trained to handle sensitive issues, including fraud claims and fund recovery.

• Security stakes: Every financial API integration introduces a new attack vector. A data breach involving financial ledgers is far more damaging than a standard SaaS data leak.

Embedded finance vs. banking-as-a-service (BaaS)

The main difference between embedded finance and BaaS (Banking-as-a-service) is who owns the customer relationship and where the financial service lives. Think of BaaS as the back-end infrastructure (the plumbing and licenses) and embedded finance as the front-end experience (the faucet the customer actually uses). While they are two sides of the same coin, they solve different problems for different players in the ecosystem:

How embedded finance creates new revenue streams

In 2026, the transition from software company to fintech hub is driven by a simple economic reality. Financial services often carry higher margins and better retention than software subscriptions alone.

By integrating embedded finance solutions, businesses can move beyond SaaS fees and earn revenue from the money that already flows through their platforms. Here's how these new revenue streams work.

Monetizing interchange fees

Every time a customer or merchant swipes a card issued by a platform, a small percentage of the transaction (the interchange fee) is paid by the merchant to the bank.

Partnering with an embedded finance company to issue branded cards lets the business keep a share of that interchange, often around 1% to 1.5% of the transaction value.

Why it works: This represents passive revenue. The platform earns money every time users pay for gas, inventory, or lunch using the provided card.

Net interest margin (NIM) sharing

When users keep cash balances in the provided virtual accounts, that money earns interest.

Through a revenue-share agreement with a partner bank (BaaS), platforms earn a spread on those deposits. In 2026's interest rate environment, even a small spread on millions of dollars in aggregate deposits can add up to meaningful high-margin income.

Why it works: It turns a platform into a deposit-gathering engine for banks, and they pay for the volume.

Financing-as-a-feature (lending commissions)

Platforms possess better data on users than traditional banks do. They know daily sales, seasonal trends, and growth trajectories.

They offer instant working capital or Buy Now, Pay Later (BNPL) at the point of need. Revenue comes from origination fees, referral commissions, or by taking a percentage of the interest paid by the borrower.

Why it works: Deducting repayments directly from the user's incoming sales (Revenue-Based Financing) lowers the risk and increases the attach rate.

Transaction and payout fees

Speed operates as a premium service in 2026. Platforms charge a flat fee or a small percentage for instant payouts. While standard ACH might be free, a gig worker or small business might gladly pay 1.5% to have their earnings land in their account in seconds rather than days.

Why it works: It solves a liquidity problem for the user while creating a high-frequency, low-overhead revenue line for the platform.

Embedded insurance referrals

Protection is most valuable at the moment of purchase. Embedding insurance (such as shipping protection for eCommerce or liability insurance for contractors) earns a commission on every policy sold.

Why it works: It adds a layer of trust to the ecosystem while monetizing a risk that the user was already going to insure elsewhere.

How this boosts valuation (the "rule of 40")

In the 2026 market, investors prioritize the Rule of 40 (Growth Rate + Profit Margin). Embedded finance helps companies hit this by:

• Improving unit economics: Businesses acquire a customer for software, then add finance revenue at little extra marketing cost.

• Lowering churn: It is notoriously difficult for a business to switch platforms once their capital, payroll, and spending are all tied to the ecosystem.

The traditional boundaries of the financial sector have dissolved. People no longer go to the bank; instead, the bank has come to them, quietly integrated into the SaaS platforms, marketplaces, and apps used every day.

What to consider when choosing embedded finance solutions

Choosing an embedded finance solution is a high-stakes decision that shifts a company's role from software provider to financial services provider. Nowadays, the market is saturated with plug-and-play options, but a poor choice leads to massive technical debt or regulatory fines.

This step-by-step roadmap assists in evaluating and choosing the right partner.

Step 1: Define the "north star" use case

Before looking at APIs, identify the core problem needing a solution.

Is the goal to reduce checkout friction (embedded payments), provide capital to merchants (embedded lending), or give gig workers instant access to earnings (embedded banking)?

Why it matters: While some providers handle standard usage-based billing models or SaaS payments well, platforms needing high-volume, cross-border B2B disbursements benefit from a specialist such as Airwallex to reduce FX costs and integration effort.

Step 2: Evaluate API maturity and "developer velocity"

The quality of a provider's documentation serves as a direct proxy for the quality of their product. Engineering teams must test the Sandbox environment immediately. Look for robust SDKs, clear error codes, and "idempotency," which prevents accidental double-charging during a network glitch.

Why it matters: High-quality APIs mean a speed-to-market of weeks instead of months. If the documentation is vague, expect the launch date to slip.

Step 3: Audit compliance and risk "heavy lifting"

Platforms need a partner that absorbs risk, rather than one that simply provides tools and leaves clients to navigate legal complexities alone. Verifying if a provider offers KYC/AML-as-a-Service is essential. This means they handle user identity verification and the ongoing monitoring of fraudulent transactions.

Airwallex handles KYC and AML checks as part of its embedded finance solutions, so platforms can hand much of the compliance work to specialist teams.

Key certifications: Ensure providers are PCI-DSS Level 1 compliant and have SOC2 Type II reports available for security teams to review.

Step 4: Analyze total cost of ownership (TCO)

Companies must look beyond the per-transaction fee. Hidden costs kill margins. Important questions include:

• Implementation fees: One-time costs to get started.

• Monthly minimums: Penalties if volume falls lower than expected.

• Payout/withdrawal fees: Costs to move money out of the ecosystem.

• Revenue share: Does the provider take a flat fee, or is the interchange profit from card swipes shared?

Why it matters: For high-volume businesses, a buy-rate model (where a flat fee is paid above the base cost) is usually more profitable than a simple percentage-based revenue share.

Step 5: Test for global and "multi-rail" scalability

A business might be US-only today, but the financial stack should not trap it there. Being limited to credit cards is a competitive disadvantage. Ensure the provider supports multi-rail payments, allowing transaction routing through the most efficient path based on speed, cost, and geography.

• Real-time rails: Support for FedNow and RTP is essential for instant B2B settlements and 24/7 liquidity.

• Cost efficiency: High-volume transactions should route via ACH or Account-to-Account (A2A) transfers to bypass high interchange fees.

• Data integrity: Ensure the provider uses ISO 20022 messaging to attach rich data (such as invoice numbers) to every payment for automated reconciliation.

• Unified API: Choose a partner with a single API that connects to local rails worldwide, such as Pix in Brazil, SEPA Instant in Europe, or UPI in India.

• License footprint: Prioritize providers that hold their own local licenses. This reduces middleman fees and prevents service disruptions if a third-party bank faces regulatory issues.

• FX optimization: A global stack allows holding and settling in multiple currencies, avoiding the costs of forced currency conversions.

Why it matters: Expanding to Europe, Asia, or Latin America should not mean rebuilding infrastructure from scratch.

Regulatory and compliance considerations about embedded finance

In the world of embedded finance, regulatory scrutiny functions as the landscape, not just a hurdle. Breaking a banking regulation can lead to enforcement action, including cease-and-desist orders.

To navigate this, companies must choose an operational model that balances speed-to-market with long-term defensibility. There are three main paths:

• Partner bank model: This leverages the license of a sponsor bank. It is the fastest way to launch, as the bank handles the regulatory heavy lifting.

• Own license: This route is much slower and more expensive, but it offers 100% control over the user experience and higher margins.

• Compliance-as-a-service: This uses a middleware provider (such as Alloy) that sits between the platform and the bank to automate the paperwork of finance.

Frequently asked questions about embedded finance

What is the most flexible business account for US-based tech or SaaS companies?

The Airwallex Business Account offers multi-currency wallets, fast interbank-rate FX, API-driven embedded finance features, and zero account or maintenance fees for users on the Explore plan. These capabilities enable software platforms to manage payments, card issuance, foreign exchange, and global treasury operations through modular APIs, all under US licensing.

Can any business offer embedded finance?

Technically yes, but a business must work with a licensed provider. Most platforms partner with a BaaS provider or sponsor bank to manage compliance and handle the financial infrastructure behind the scenes. The goal involves embedding finance where it naturally complements the existing user journey.

What’s the ROI of embedded finance?

Measuring the ROI of Embedded Finance Solutions goes beyond adding a new line to a P&L. In 2026, businesses treat it as a "revenue multiplier" that increases the value of every existing customer. Analysts generally measure ROI across three core pillars: Direct Revenue, Operational Efficiency, and Equity Value (LTV/Churn).

How does embedded finance improve customer retention?

Embedded finance improves retention by weaving a "financial moat" around a platform. This makes the software essential to the user's daily operations rather than a simple tool. Integrating bank accounts, instant payouts, and credit directly into the workflow creates high switching costs. According to the 2025 PYMNTS intelligence report, these costs can reduce churn by up to 64%.⁶ This transformation shifts the platform's role from a simple vendor to a strategic partner providing the "financial oxygen" customers need to grow.

Is embedded finance secure?

Yes, provided a business partners with established providers maintaining SOC2 Type II and PCI-DSS Level 1 certifications. These companies handle heavy encryption and fraud monitoring. This allows the business to focus primarily on its core product.

How do APIs handle data syncing with existing CRM or ERP systems?

Modern embedded finance APIs use real-time webhooks to push transaction data directly into systems such as Salesforce, NetSuite, or HubSpot. This ensures financial records and customer profiles stay perfectly synchronized without manual entry.

Sources

1. https://www.pymnts.com/wp-content/uploads/2025/10/PYMNTS-Embedded-Finance-Grows-Up-October-2025.pdf  

2. https://www.bain.com/insights/embedded-finance/ 

3. https://tech.sofi.com/blog/embedded-b2b-finance-2026-next-frontier/

4. https://a16z.com/every-company-will-be-a-fintech-company/