Kenyan fintech startup WapiPay has expanded into North America after securing a money services business (MSB) licence in Canada, a move that allows it to legally operate cross-border payment services in the country.
The licence marks a major milestone for the company as it looks to scale its cross-border payment infrastructure beyond Africa, where it has built its core business facilitating transactions between African and Asian markets.
With the approval, WapiPay will now be able to process remittances and cross-border payments involving Canada, opening up new corridors for businesses and individuals, particularly those with trade and payment links to Africa.
The expansion signals the company’s broader push to position itself as a global payments player, as competition intensifies in the cross-border fintech space.
WapiPay’s entry into Canada comes as more African fintechs seek regulatory footholds in major international markets to support diaspora payments, trade flows, and global settlement services.
The company is expected to deepen partnerships with financial institutions and payment providers as it begins operations under its new licence.
Sending money to Sub-Saharan Africa remains one of the costliest cross-border transactions globally, with the World Bank estimating that transferring $200 to the region costs an average of about 7.7% of the total amount. That figure is more than double the United Nations Sustainable Development Goal target of 3%, underscoring a long-standing inefficiency in global remittance flows.
The high cost has continued to create opportunities for fintech companies positioning themselves as faster and cheaper alternatives for cross-border payments.
WapiPay’s latest expansion into North America is part of that broader push. Speaking on the development, Ndichu said the move reflects the company’s global growth strategy over the past year. In April, the fintech also secured regulatory approval to launch operations in Jamaica, using the Caribbean market as a strategic hub for remittance and trade flows connecting Africa, Asia, and the Caribbean.
Founded in 2019 by twin brothers Eddie Ndichu and Paul Ndichu, WapiPay initially focused on enabling payments between Africa and Asia, with a strong emphasis on traders and small businesses moving goods across both regions. The company has since begun expanding further up the financial services value chain.
In February, it introduced a remittance-linked credit scoring platform aimed at helping Kenyan banks assess borrowers with limited or no formal credit history. The system uses diaspora remittance data as an alternative financial record, allowing lenders to better evaluate creditworthiness and expand access to loans.