---
title: "Axra is PSP Licensed: What That Means for Business"
canonical: "https://www.useaxra.com/blog/axra-psp-licensed-what-that-means-for-your-business"
updated: "2026-04-06T10:19:31.647Z"
type: "blog_post"
---

# Axra is PSP Licensed: What That Means for Business

> Axra holds three regulatory licenses: PSP registration with the Bank of Canada, MSB registration with FINTRAC, and MTL registration with FinCEN. Here is what each covers.

## Key facts

- **Topic:** PSP license Bank of Canada
- **Published:** 2026-04-06
- **Reading time:** 3 min
- **Article sections:** 7
- **Covers:** PSP license Bank of Canada, payment service provider license, FINTRAC MSB registration, FinCEN money transmitter and regulated payment gateway

## Regulation Is Not Optional in Payments

If you accept payments online, you are handling other people's money. The entity processing those payments should be licensed, audited, and accountable to a regulatory body.

Axra holds three regulatory licenses across two countries.

## Axra's Three Licenses

### 1. PSP Registration -- Bank of Canada

**What it is**: Payment Service Provider registration under Canada's Retail Payment Activities Act (RPAA).

**What it covers**:
- Collecting payments on behalf of merchants
- Processing card and electronic payment transactions
- Managing and safeguarding merchant funds
- Operating payment infrastructure and checkout systems

### 2. MSB Registration -- FINTRAC

**What it is**: Money Services Business registration with the Financial Transactions and Reports Analysis Centre of Canada.

**What it covers**:
- Foreign exchange dealing
- Money transfers and remittances
- Cross-border payment processing

FINTRAC registration requires a comprehensive AML/CFT compliance program including KYC verification, transaction monitoring, suspicious transaction reporting, and ongoing staff training.

### 3. MTL Registration -- FinCEN

**What it is**: Money Transmitter License registration with the U.S. Department of the Treasury.

**What it covers**:
- Money transmission within and from the United States
- Cross-border fund transfers involving U.S. dollars
- Compliance with the Bank Secrecy Act

## Why Regulation Matters for Your Business

### Customer Fund Protection

Licensed processors must safeguard customer funds in segregated accounts. Your customers' money is protected by regulatory requirements, not just company policy.

### AML/KYC Compliance Built In

Every Axra user goes through identity verification:

- Government-issued ID validation
- Biometric matching
- Sanctions screening
- Ongoing transaction monitoring

For merchants, this means verified customers and reduced fraud.

### Dispute Resolution

Licensed entities must maintain dispute resolution processes with a regulated framework for investigation and resolution.

## What This Means for Merchants

### You Get a Regulated Counterparty

This matters for investor due diligence, enterprise sales, and insurance underwriting.

### No Licensing Burden on You

Merchants using Axra Pay do not need their own MSB, MTL, or PSP registrations. The regulatory infrastructure is handled by Axra.

### Compliant Infrastructure for Africa

Axra's licensing provides a compliant bridge between global payment networks and African markets.

## PCI DSS Compliance

- Card data never touches merchant servers
- Tokenization at point of collection
- Encryption in transit (TLS 1.3) and at rest (AES-256)
- Regular penetration testing

## Integration Example

```bash
curl -X POST https://api.useaxra.com/api/v1/business/checkout/sessions \
-H "Authorization: Bearer YOUR_ACCESS_TOKEN" \
-H "Content-Type: application/json" \
-d '{
"amount": 49.99,
"currency": "USD",
"description": "Premium subscription",
"successUrl": "https://yoursite.com/success",
"customerEmail": "customer@example.com"
}'
```

## The Bottom Line

Payment processing is a regulated activity. Ask your payment provider: are they licensed? Then ask by whom.

Axra Pay is available at [pay.useaxra.com](https://pay.useaxra.com).

## Sources

- [Axra is PSP Licensed: What That Means for Business](https://www.useaxra.com/blog/axra-psp-licensed-what-that-means-for-your-business)

---

Axra is a product of GoFree and is provided by GoFree Global Inc and its affiliated entities. Please check our FAQ page for information on which GoFree entity provides services in your region, or reach out via in-app chat or support@joingofree.com.

GoFree Global Inc is registered in Delaware, United States, and is registered as a Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN). Registration Number: 20222296774. License Number: 31000281485025.

GoFree Global Technology Limited is registered in Canada and is registered as an MSB and payment service provider with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), with RPAA registration in progress with the Bank of Canada. Registration Number: 1001010436. License Number: C100000512.

The registered address for GoFree Global Inc is 1111B S Governors Ave STE 48051, Dover, DE 19904, United States. The registered address for GoFree Global Technology Limited is 2967 Dundas St. W. #1037, Toronto, ON M6P 1Z2, Canada.

Other operating entities include GoFree Global Technology Limited in Nigeria and GoFree Global Technology Limited in Rwanda. We are not a bank; banking services are provided by duly licensed partner banks, and deposits are FDIC insured where applicable.