Theparkpay Technologies secures Canadian PSP license, expands cross-border payment capabilities
Sponsored content: The fintech company announces it has been granted a Payment Service Provider (PSP) Licence by Canada's Bank of Canada under the Retail Payment Activities Act (RPAA), complementing its existing Money Services Business (MSB) Licence in Canada. Founded in 2025, Theparkpay now holds licences in Nigeria, Canada, and the United States, operating in over 170 countries and settling in 80 currencies. The PSP Licence enables real-time merchant payment settlements and enhanced payment processing capabilities for businesses worldwide. According to Anthony Chukwuemeka Akujobi, Director of Risk, Compliance & Enterprise Growth, this milestone strengthens the company's compliance framework while enabling faster cross-border payment solutions for fintechs, SMEs, and enterprises. The company states merchants can now receive payments instantly, improving cash flow and reducing working capital pressures for businesses conducting international commerce. This regulatory expansion positions Theparkpay to support businesses with scalable infrastructure for global transactions across domestic and international markets, according to company officials.