WapiPay has achieved a major milestone in its international growth journey by securing a Money Services Business (MSB) licence from Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC). The approval marks the Nairobi-founded fintech’s official entry into the North American market and establishes its first regulated operational hub in the region, further strengthening its position as a growing player in global cross-border payments and digital financial services.
The licence authorizes WapiPay to offer foreign exchange, money transfer, and payment services in Canada through its newly established subsidiary. In addition, the approval grants the company the ability to facilitate virtual currency and digital asset transactions, enabling it to expand its service offering beyond traditional payment rails and participate in the rapidly evolving digital finance ecosystem under a regulated framework.
This development significantly broadens WapiPay’s global reach, extending its payment network beyond its existing operations across Africa, Asia, the United Kingdom, and the Caribbean. By expanding into Canada, the company is strategically positioning itself to support growing demand for cross-border payments, international trade settlements, remittances, and digital financial transactions between emerging and developed markets.
Founded in 2019 by Edward N. and Paul Ndichu, WapiPay has steadily evolved from a cross-border payments platform into a broader financial services provider. Recent innovations include the launch of a remittance-based credit scoring platform designed to help Kenyan banks assess creditworthiness, as well as securing regulatory approval to expand operations into Jamaica. These milestones demonstrate the company’s commitment to building inclusive financial infrastructure that connects businesses and individuals across multiple markets.
According to Co-founder and CEO Edward N., the FINTRAC licence represents a transformative step in the company’s growth strategy. By combining fiat payment capabilities with virtual currencies and digital assets under Canadian regulatory oversight, WapiPay is creating new opportunities for secure, compliant, and efficient financial transactions. The expansion reinforces the company’s vision of building seamless global payment corridors while supporting financial inclusion, innovation, and economic connectivity across borders.
