Nigerian-founded fintech firm, Theparkpay Technologies Limited, has secured a Payment Service Provider (PSP) licence from the Bank of Canada for real-time payment settlements for its global merchants.

Speaking on the milestone, the Director of Risk, Compliance and Enterprise Growth at Theparkpay, Anthony Akujobi, described the licence as a vital boost to the company’s operational strategy.

Under the Retail Payment Activities Act (RPAA), the newly acquired licence complements the company’s existing Money Services Business (MSB) licence in Canada, expanding its regulatory capabilities to deliver faster, secure, and fully compliant payment solutions worldwide, a statement from he said.

Akujobi noted that this development allows Theparkpay to participate more efficiently within the global payment ecosystem. He said “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.”

In a statement, he noted that the achievement reflects the firm’s unwavering commitment to regulatory excellence and borderless payment experiences.

“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 170 countries and over 80 currencies,” he added.

According to him, the company founded in 2025 has rapidly expanded its regulatory footprint with operational licences in Nigeria, Canada, and the United States.

He adds that the company currently facilitates payment collections and settlements designed to remove barriers associated with foreign exchange and traditional settlement cycles, empowering African businesses to compete successfully in the connected global economy.

In addition to faster settlements, the company noted that customers can now expect quicker merchant onboarding, enhanced compliance verification processes, and improved transaction processing times