WeWire Secures PSP License to Power Cross-Border Payments for Emerging Market Businesses

Precious Olowookere

Mar 18, 2026 • 1 min read

WeWire has secured a Payment Service Provider (PSP) license, enabling it to accelerate cross-border payments for businesses in emerging markets. This regulatory milestone strengthens its ability to deliver faster, more secure, and compliant financial services across borders.

WeWire, a Ghanaian cross-border fintech platform, has obtained a Payment Service Provider license from the Bank of Canada. This move is aimed at creating a prominent milestone in its goal of simplifying international payments for business in emerging markets.

This is a platform that offers quicker, secure and seamless payment services cutting across different locations. With the regulatory approval from Canada's financial system, it will strengthen the platform to be recognized as a registered fintech.

The corporation claims that the license would help end long-standing inefficiencies in international payments, especially for companies doing business in Africa and other developing nations where cross-border transactions are still expensive and costly.

According to the Chief Executive Officer Ebenezer Ghanney, he explained this as;

A milestone for both its users and company, “I am thrilled to share that WeWire has officially been granted a Payment Service Provider license,”he added that the approval “makes us a registered fintech under the Bank of Canada.”

By securing PSP status, WeWire will cut across cross border payments challenges for businesses especially in Africa, Asia, and Latin America where the banking system comes with slow processing times and often impose high fees. The system will reduce transaction costs for small businesses, enterprises and startups, expand financial inclusion by delivering digital first payment solutions and enhance trust through compliance with international financial regulations.

According to the Bank for International Settlements (BIS), non-bank PSPs are reshaping the global payments landscape by offering faster, cheaper, and more convenient alternatives to traditional banks

About WeWire

Founded in 2022, WeWire is a financial technology company that provides cross-border payment and trade solutions for businesses, particularly those operating in emerging markets. It focuses on helping companies send, receive, and manage money across multiple countries quickly, securely, and at lower cost than traditional banking systems.

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