---
title: "Cardtonic And Pil Register As FINTRAC MSBs In Canada"
description: "Cardtonic and its enterprise platform Pil have registered as Money Services Businesses with Canada’s FINTRAC, a step toward offering services in Canada."
canonical_url: "https://liners.com/news/cardtonic-pil-fintrac-msb-registration-canada"
markdown_url: "https://liners.com/news/cardtonic-pil-fintrac-msb-registration-canada.md"
type: "article"
language: "en"
published_at: "2026-10-23T18:30:46.986Z"
updated_at: "2026-10-23T18:30:49.528Z"
---

# Cardtonic And Pil Register As FINTRAC MSBs In Canada

Cardtonic and its enterprise platform Pil have registered as Money Services Businesses with Canada’s FINTRAC, a step toward offering services in Canada.

## Breadcrumbs

- [News](/news)
- [Cardtonic And Pil Register As FINTRAC MSBs In Canada](/news/cardtonic-pil-fintrac-msb-registration-canada)

## Content

## In Short
Cardtonic and Pil have registered as Money Services Businesses with Canada’s FINTRAC.

The company update says the move is meant to support expansion into Canada and build banking and payments relationships.

## What Happened: FINTRAC Registration For Cardtonic And Pil
[Cardtonic](/cardtonic) and [Pil by Cardtonic](/pil) are now registered as Money Services Businesses (MSBs) with FINTRAC, Canada’s financial intelligence and regulatory body.

The release describes FINTRAC registration as challenging, saying it can take months and requires navigating fragmented regulation, regulatory scrutiny, high capital requirements, and strict timelines.

It says Cardtonic and Pil are officially recognised as a reporting entity under Canadian anti money laundering laws. The update adds that registration is a critical requirement for offering MSB or foreign MSB services in Canada.

The release also says FINTRAC requires businesses to register before facilitating payment in CAD or directing services to Canadian residents. It lists compliance expectations such as AML, customer KYC (know your customer checks), mandatory report filings, and standardised record keeping.

## Why It Matters: A Path To Canadian Banking And Payment Rails
Cardtonic says the registration gives it institutional legitimacy and access to the Canadian financial system.

The release claims Canadian banks and payment processors can integrate the Cardtonic API so funds can move from the app to Canadian bank accounts.

It also says Canadians and Nigerians in the diaspora can pay and trade gift cards.

In the same update, Cardtonic says it has offered products including virtual cards, gift cards, local bill payments, eSIMs, and gadgets. It adds that Pil is an enterprise spend management platform that helps teams manage SaaS subscriptions and digital payments from one dashboard.

## Sources and products

- [ACCESS Newswire](https://www.accessnewswire.com/newsroom/en/business-and-professional-services/african-fintech-giant-cardtonic-and-pil-register-as-money-servic-1239623)
- [Cardtonic](/cardtonic)
- [Pil by Cardtonic](/pil)

## Related pages

- [Policy & Regulation](/news)

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