Payoneer Canada Registers as Payment Service Provider
Payoneer (NASDAQ: PAYO) has registered its Canadian subsidiary, Payoneer Canada Limited, with the Bank of Canada under the Retail Payment Activities Act. This registration strengthens Payoneer's ability to serve businesses in and expanding into Canada by providing regulated payment services such as local-currency collections. The move expands Payoneer’s regulatory footprint in a new jurisdiction and supports its banking relationships within Canada while enabling continued customer support with locally tailored compliance processes. The company emphasizes that this milestone reinforces their commitment to maintaining high standards of compliance across global operations, enhancing trust among customers operating internationally. Payoneer operates in over 190 countries through nearly 100 partnerships and maintains a strong regulatory presence globally. This registration is part of its broader strategy to ensure consistent, reliable cross-border payment services for businesses.
Tickers: $PAYO
Topics: bank of canada canada compliance financial technology