Business
Theparkpay Technologies Limited Secures Payment Service Provider (PSP) Licence in Canada, Enabling Real-Time Payment Settlements for Global Merchants
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 170 countries 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.
About Theparkpay
Theparkpay is a fully licensed fintech company providing secure, compliant, and innovative cross-border payment solutions for businesses and individuals. Through advanced payment infrastructure and a strong regulatory framework, the company enables seamless global commerce, enhances liquidity management, and simplifies international payments across more than 170 countries and over 80 currencies. The company is committed to building trusted financial infrastructure that empowers African businesses to participate confidently in the global economy through fast, secure, and transparent payment solutions.
TotalEnergies and Nigerian independent energy company AMNI International have taken the Final Investment Decision on the $800 million Ima Gas Project, more than five decades after the gas field was discovered.
The Ima Gas Project, located in shallow waters across Oil Mining Leases 112 and 117 near Bonny Island, Rivers State, is expected to begin production in 2028 and reach a plateau of 350 million cubic feet of gas per day.
The development is expected to play a major role in supplying feed gas to Nigeria LNG, with the Ima field projected to provide about one-third of the additional gas required for the ongoing Train 7 expansion.
Train 7 is expected to increase Nigeria LNG’s liquefaction capacity from 22 million tonnes per annum to 30 million tonnes per annum, strengthening Nigeria’s capacity to process and export liquefied natural gas.
The Ima field was discovered in 1973 but remained undeveloped for more than 50 years. The Final Investment Decision provides the commercial and financial basis for finally developing the long-dormant resource.
Under the development plan, TotalEnergies will operate the project with a 40 per cent interest, while AMNI will hold the remaining 60 per cent.
The field will be developed using a single offshore platform connected to Nigeria LNG’s facility on Bonny Island through a 22-kilometre pipeline.
TotalEnergies said its investment in the project is more than $600 million, while the Federal Government described the overall Final Investment Decision as an $800 million investment.
At the FID signing ceremony in Abuja, TotalEnergies Exploration and Production Nigeria Managing Director, Mathieu Bouyer, described the decision as the culmination of a development process that had stretched across several decades.
He said the project reflected increased confidence in Nigeria’s investment environment and highlighted reforms targeting the non-associated gas sector as part of the factors that helped make the development commercially viable.
President Bola Tinubu welcomed the investment, saying the project demonstrated the potential of reforms introduced to reduce the cost and time required to develop oil and gas projects.
The President said the government had introduced incentives aimed specifically at unlocking onshore and shallow-water gas projects that had remained undeveloped for years.
He said the Ima development would create opportunities for Nigerian businesses, engineers, technicians and contractors, while generating jobs, economic activity in host communities and additional export earnings.
The project is also expected to have a strong Nigerian content component. TotalEnergies said all key contractors for the development would be Nigerian companies, while about 60 per cent of the workforce during the development phase is expected to come from host communities.
The development will incorporate measures aimed at reducing emissions. TotalEnergies said the platform would receive electricity from shore, operate without routine flaring and use permanent methane detection and monitoring systems.
The Federal Government said the project is part of efforts to turn Nigeria’s large natural gas reserves into productive assets capable of supporting industrialisation, energy supply, jobs and export earnings.
Special Adviser to the President on Energy, Olu Verheijen, said the Ima development illustrated the importance of creating commercial and investment conditions that allow previously stranded resources to be developed.
The government also noted that Nigerian financial institutions arranged 77 per cent of the project’s financing, further highlighting the participation of domestic financial institutions in the development.
For Nigeria LNG, the project comes as the company continues work on the Train 7 expansion, which is designed to increase the Bonny Island plant’s liquefaction capacity and strengthen the country’s position in the global LNG market.
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