By Ayo Onikoyi

Theparkpay Technologies Limited has secured a Small Payment Institution (SPI) licence from the United Kingdom’s Financial Conduct Authority (FCA), expanding its regulated payments operations across key international markets.

The company, in a statement, said the latest regulatory approval strengthened its position in the global payments ecosystem and supported its plans to develop cross-border payment and multicurrency settlement infrastructure.

The UK licence adds to Theparkpay’s existing regulatory presence in Canada, the United States and Nigeria.

The company said it recently obtained a Payment Service Provider licence in Canada, complementing its existing Money Services Business (MSB) status in the country and its operations in the United States and Nigeria.

According to Theparkpay, the latest development forms part of its broader strategy to build a globally connected payments infrastructure that enables businesses and customers to move money across markets more efficiently.

The company said its payment infrastructure was being developed to support businesses engaged in cross-border activities, including sourcing and importing, international sales, collections, settlement and expansion into new markets.

It said regulatory approvals across major financial jurisdictions would enable it to develop payment connections between businesses, currencies and markets.

“The UK licence establishes a regulatory foundation for Theparkpay’s payment operations in one of the world’s most influential financial centres,” the company said.

Theparkpay said its expanding regulatory footprint across the UK, Canada, the United States and Nigeria reflected its efforts to develop a payments platform capable of supporting international commerce.

The company said its focus would remain on expanding payment connections, improving access to international markets and making cross-border transactions more efficient for businesses and customers.

The latest UK approval, it added, marked another step in its efforts to build a payments infrastructure connecting businesses and markets across jurisdictions.