Africhange has reached a significant milestone by becoming one of the first registered Payment Service Providers under Canada's Retail Payment Activities Act. This recognition by the Bank of Canada, announced on October 21, 2025, underscores the company's dedication to regulatory standards and consumer safety. According to the assessment of specialists presented in the publication, this achievement positions Africhange as a leader in the evolving landscape of digital payments.
Registration Process and Compliance
The registration process involved a thorough evaluation, ensuring that Africhange meets the stringent requirements set forth by the Bank of Canada. CEO David Ajala emphasized that this achievement not only validates their efforts in compliance but also reinforces their commitment to protecting consumers in the digital payment landscape.
Impact of New Status
With this new status, Africhange will be directly supervised by the Bank of Canada, which is expected to enhance customer trust and confidence in their services. This development positions Africhange as a key player in the evolving payment ecosystem, paving the way for further innovations and improvements in the sector.
In a related development, Digitap is focusing on remittances and the unbanked population, aiming to enhance financial inclusion. For more details, see the full article here.
