VukaPay strengthens global payment infrastructure strategy with Bank of Canada PSP registration

Nairobi, Kenya — VukaPay has strengthened its global payment infrastructure strategy through the registration of its Canadian entity, Wirpaid Limited, as a Payment Service Provider under Canada’s Retail Payment Activities Act.

The registration gives VukaPay a Canadian regulatory foothold as it expands its infrastructure-led role across Africa-global payment corridors.

It also provides banks, payment service providers, enterprise clients, settlement partners and treasury stakeholders with a clearer public reference point as the company builds trusted infrastructure for collections, payouts, cross-border payments, foreign exchange, digital settlement, reconciliation and API orchestration.

Africa’s digital payments economy is projected to reach $1.5 trillion by 2030, driven by rising internet access, mobile-first financial services, digital commerce, financial inclusion and the continued growth of cross-border trade.

At the same time, global payments revenues are expected to reach $3 trillion by 2029, reinforcing the scale of opportunity for payment infrastructure companies that can connect high-growth emerging markets to global financial systems.

Despite this growth, cross-border payment flows into and across Africa remain affected by high costs, settlement delays, currency fragmentation, limited interoperability and complex reconciliation processes. According to World Bank remittance data, Sub-Saharan Africa remains the most expensive region in the world to send money to, with an average transaction cost of 8.46 percent.

Against this backdrop, VukaPay is positioning itself as an African payments infrastructure company built to support serious payment corridors, serious partners and serious scale.

VukaPay is expanding its ability to support payment flows linked to Canada, Africa and other global markets. This strengthens the company’s corridor strategy across remittances, merchant settlement, enterprise disbursements, trade payments, diaspora flows, treasury operations and cross-border payment orchestration.

Canada’s role in VukaPay’s broader infrastructure strategy is particularly important as businesses, payment companies and financial institutions seek more reliable and transparent ways to move money between Africa and international markets.

VukaPay’s infrastructure is designed to simplify payment operations across fragmented markets by enabling businesses and partners to connect to multiple payment rails through one integration layer.

For PSPs, digital businesses, banks and enterprise clients, this creates a stronger foundation for managing payment complexity across African and global corridors.

The Bank of Canada PSP registration provides a stronger diligence reference point for banks, payment service providers, treasury partners, settlement providers, investors and enterprise clients engaging with VukaPay.

Commenting on the milestone, Sam Malonza, CEO of VukaPay, said:

“VukaPay’s long-term ambition is to build trusted payment infrastructure for serious corridors, serious partners and serious scale. The Bank of Canada PSP registration gives our partners a stronger public reference point as we expand our work across cross-border payments, settlement, FX, treasury visibility and API orchestration. For us, this is not only a regulatory milestone; it is a strategic step in building African payment infrastructure with global credibility.”

This milestone supports VukaPay’s positioning as a globally credible African payments infrastructure company serving enterprises, payment service providers, digital businesses and institutional partners across emerging and international markets.

The registration can be verified through the Bank of Canada’s public registry of payment service providers.

About VukaPay

VukaPay is a payments infrastructure company building trusted solutions for collections, payouts, cross-border payments, foreign exchange, digital settlement, reconciliation and API orchestration across Africa and global corridors.

Through its infrastructure-led approach, VukaPay enables enterprises, payment service providers, digital businesses and institutional partners to operate across fragmented payment markets with greater efficiency, visibility and reliability.