Cardtonic and Pil have registered as money services businesses with Canada’s Financial Transactions and Reports Analysis Centre, marking a step in the sister companies’ expansion beyond their established African markets.

Key Takeaways

  • The companies announced their FINTRAC registrations on October 26, 2026.
  • Cardtonic offers digital financial products, while Pil focuses on corporate cards and spend management.
  • The announcement did not specify a Canadian product launch date.

What registration means for Cardtonic and Pil

The registrations provide a formal regulatory foundation for the companies’ activities as money services businesses in Canada. Cardtonic said the step also supports its efforts to develop relationships with financial and banking partners in the country.

The announcement did not identify a change in Canadian rules or specify when particular products would become available to Canadian customers.

Expansion followed Canadian market visit

In May 2026, Cardtonic’s CEO and growth lead traveled to Vancouver for Web Summit, where they explored expansion into Western markets for Cardtonic and Pil. The registrations were announced on October 26.

Cardtonic CEO Emmanuel Sohe described the registrations as groundwork for expansion. Legal and compliance officer Honour Osagie said the companies reviewed how Canadian requirements would affect their operations and whether existing processes needed to change.

Cardtonic offers products including virtual dollar cards and gift card trading services. Pil focuses on corporate cards and spend management for businesses.

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