ZuniQ, a global cross-border payments infrastructure company, has secured a Payment Service Provider (PSP) license under the Retail Payment Activities Act (RPAA) in Canada, positioning itself in one of the more tightly regulated payment markets globally.
The RPAA, which introduces formal oversight for non-bank payment providers, requires companies to meet standards around operational resilience, risk management, and the safeguarding of customer funds. The framework is part of a broader push by Canadian regulators to bring more structure and accountability to a rapidly expanding digital payments sector.
ZuniQ’s entry into this system signals a shift often seen among fintechs operating across emerging markets: a move from speed-first expansion to compliance-led scaling.
That shift is happening amid growing demand for cross-border payment infrastructure. As more businesses operate internationally, particularly across Africa and North America, the friction in moving money remains significant: delays, high costs, and fragmented systems that struggle to keep pace with the volume and velocity of modern commerce.
Canada is a key player in this landscape. The country recorded an estimated $8.3 billion in outbound remittances in 2023, according to the World Bank, a figure that underscores not just the scale of its financial outflows, but its strategic importance as a connector in global payment corridors, especially those linking North America to the African continent.
For ZuniQ, securing a PSP license is less about market entry than about regulatory positioning. Operating within Canada’s framework allows the company to plug into a system where compliance is increasingly becoming table stakes for credibility, especially for startups facilitating cross-border transactions.
“Securing a PSP licence in Canada, puts us in a strong position to grow and serve at scale…” said CEO Joshua Nwogodo.
“Operating within a regulated framework like Canada’s allows us to build with both speed and trust.”
Over the past year, ZuniQ has been steadily building a robust suite of solutions designed to power a truly seamless fintech ecosystem. As we move through 2026, the company plans to roll out and expand these products, each built to eliminate the friction that often defines slow and unpredictable B2B cross-border payments.
These solutions include:
- ZuniQ Global Payments for fast, affordable, borderless business-to-business (B2B) transactions.
- ZuniQ Wallet, offering multi-currency accounts that enable businesses to collect funds, convert instantly, and manage treasury operations from a single platform—collecting in local currencies while settling in preferred ones.
- ZuniQ OTC Desk for large-volume FX conversions and institutional trades, providing deep liquidity for smooth execution and minimizing exposure to exchange rate slippage.
- ZuniQ API Suite for fintechs and marketplaces to seamlessly collect payments, make payouts, and maintain compliance across transactions.
Ultimately, ZuniQ is building a unified platform that combines payments, liquidity, and foreign exchange, with a focus on reducing settlement times and improving transparency for businesses moving money across borders.
But the broader challenge remains structural. While fintechs continue to promise faster and cost-effective global payments, they still rely heavily on legacy banking rails and fragmented regulatory environments. Gaining regulatory footing across key jurisdictions is one of the most consequential steps a fintech can take to dismantle those barriers from the inside.
That is precisely what ZuniQ’s Canadian PSP license positions the company to do. Operating within a recognised compliance framework unlocks access to more direct payment rails, reduces the friction that slows cross-border transactions, and opens corridors that were previously difficult to navigate without established regulatory standing. For businesses moving money across the globe, that translates into faster settlements, lower costs, and a more predictable payments experience.
For ZuniQ, the Canadian PSP license is not merely a compliance milestone; it is the infrastructure layer upon which scalable, seamless cross-border payment solutions are built.
Learn more about ZuniQ here.
