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TheParkPay Technologies Limited has secured a United Kingdom Financial Conduct Authority (FCA) Small Payment Institution (SPI) licence, expanding its regulatory footprint and strengthening its payment infrastructure across international markets.
The fintech company said the licence would provide a regulatory foundation for its payment operations in the United Kingdom, one of the world’s major financial centres.
In a statement, TheParkPay said the development was part of its broader strategy to build an interconnected global payments infrastructure capable of facilitating the movement of money across markets more efficiently and transparently.
“The UK licence establishes a regulatory foundation for TheParkPay’s payment operations in one of the world’s most influential financial centres and adds to our company’s growing international regulatory footprint,” the company said.
The licence follows the company’s recent regulatory approval in Canada as a Payment Service Provider and complements its existing presence in Canada, the United States and Nigeria.
According to the company, the expansion is aimed at supporting businesses involved in cross-border transactions, including sourcing and importing, international sales, collections, settlements and expansion into new markets. “Our payment infrastructure is being developed to support businesses engaged in cross-border activities, including sourcing and importing, international sales, collections, settlement and expansion into new markets.
“These regulatory approvals across major financial jurisdictions will enable us to develop payment connections between businesses, currencies and markets,” it said.
The company said the establishment of regulated operations across different jurisdictions would allow it to develop a more interconnected payments network through which businesses could access international markets.
It added that its long-term objective was to broaden payment connections, expand access to global markets and improve the efficiency of cross-border transactions for businesses and customers.
“For our customers, this expansion unlocks a comprehensive global payment infrastructure designed to streamline cross-border transactions and financial management,” the company said.
TheParkPay said the UK licence represents another step in its plan to deepen its international operations and build payment infrastructure linking businesses, currencies and markets across different jurisdictions.
