Mapletrite Becomes a Bank of Canada Registered Payment Service Provider, Expands in the UK and Africa
Mapletrite, a Canadian financial technology company focused on cross-border payments and digital financial services, has officially been registered as a Payment Service Provider (PSP) by the Bank of Canada under the Retail Payment Activities Act (RPAA).
Mapletrite, a Canadian financial technology company focused on cross-border payments and digital financial services, has officially been registered as a Payment Service Provider (PSP) by the Bank of Canada under the Retail Payment Activities Act (RPAA).
The registration marks a significant milestone in the company’s growth journey and reinforces its commitment to compliance, security, consumer protection, and operational excellence.
Founded with a mission to simplify global payments, Mapletrite enables individuals and businesses to send and receive money internationally through a secure and user-friendly platform. The company currently serves customers across Canada, the United Kingdom, the European Economic Area (EEA), Nigeria, Kenya, Ghana, South Africa, Zambia, Tanzania, and Zimbabwe.
In addition to its regulatory achievement, Mapletrite has established a subsidiary in the United Kingdom to support its European expansion strategy and enhance access to global payment corridors.
The company has also completed the second phase of security testing for its platform and continues to invest heavily in artificial intelligence, fraud prevention, compliance technology, and customer experience.
To date, Mapletrite has onboarded more than 1,250 users and generates over CAD $30,000 in recurring monthly revenue.
Looking ahead, the company is focused on expanding its product offerings through:
“This registration by the Bank of Canada is a significant validation of our vision and commitment to building a trusted global payments platform. As we continue to grow across Europe and Africa, our focus remains on delivering secure, affordable and innovative financial services that empower individuals and businesses worldwide”– Emmanuel Ariwodo, Founder and CEO of Mapletrite
Mapletrite continues to position itself as a bridge between global markets, helping customers move money faster, more securely, and more efficiently across borders.
Mapletrite — A Smarter Way to Send Money Globally.
