Theparkpay Technologies, a leading licensed fintech specializing in secure and compliant cross-border payment solutions, is pleased to announce that it has been granted a Payment Service Provider (PSP) Licence in Canada by the Bank of Canada under Retail Payment Activities Act (RPAA).
The new licence complements Theparkpay’s existing Money Services Business (MSB) Licence in Canada, significantly expanding the company’s regulatory capabilities and strengthening its ability to deliver faster, more secure, and fully compliant payment solutions for businesses worldwide.
The newly acquired PSP Licence enables Theparkpay to participate more efficiently within the payment ecosystem, supporting enhanced payment processing, real-time settlement capabilities, and broader payment infrastructure services. Together, both licences reinforce Theparkpay’s commitment to regulatory excellence while providing customers with a more seamless and efficient payment experience.
Founded in 2025 as a subsidiary of its parent company, Theparkpay has rapidly expanded its regulatory footprint with licences in Nigeria, Canada, and the United States. The company is strategically positioned to support fintechs, small and medium-sized enterprises (SMEs), multinational corporations, and payment institutions with scalable infrastructure that simplifies international commerce while strengthening liquidity management and financial control.
The enhanced Canadian regulatory framework enables merchants to receive payments in real time, providing immediate access to funds from customers across domestic and international markets. By eliminating traditional settlement delays, businesses can significantly improve cash flow, reduce working capital pressures, and strengthen treasury operations.
In addition to faster settlements, customers can now expect quicker merchant onboarding, enhanced compliance verification processes, and improved transaction processing times, enabling businesses to scale internationally with greater confidence and operational efficiency.
Speaking on the milestone, Anthony Chukwuemeka Akujobi, Director, Risk, Compliance & Enterprise Growth, highlighted the significance of the licence to the company’s regulatory and operational strategy.
“Securing our PSP Licence in Canada marks another significant milestone in Theparkpay’s regulatory journey and long-term growth strategy. Building on our existing MSB Licence, this achievement strengthens our compliance framework while enabling real-time settlement capabilities that deliver immediate value to merchants and businesses worldwide.
“We are now better positioned to support fintechs, SMEs, and enterprises with seamless, secure cross-border payment solutions that accelerate cash flow, improve liquidity management, and provide instant access to funds across more than 17 0countries and over 80 currencies.
This achievement reflects our unwavering commitment to regulatory excellence, innovation, and delivering borderless payment experiences that empower African businesses and their global partners to compete successfully in today’s increasingly connected global economy.”
Theparkpay currently facilitates payment collections across more than 170 countries and settlements in over 80 currencies, supported by advanced collection and payout infrastructure designed for speed, reliability, and security. By removing barriers associated with foreign exchange and traditional settlement cycles, the platform enables businesses to transact globally with greater confidence, efficiency, and operational agility.
Guided by its core values of Speed, Integrity, Innovation, Customer Centricity, and Borderless Payments, Theparkpay continues to raise the standard for cross-border financial services through transparency, regulatory excellence, and customer-focused innovation. The company’s latest licensing milestone reinforces its mission of providing businesses with secure financial infrastructure that simplifies international commerce and unlocks new global opportunities.
