Payments Canada has approved Neo Financial Technologies Inc. for membership, making the Canadian fintech the latest payment service provider to join after federal amendments to the Canadian Payments Act expanded eligibility. The expanded framework allows payment service providers supervised under the Retail Payment Activities Act to become members, giving them a direct voice in the policies and rules that shape Canada’s payment systems. New payment service provider members are also eligible to apply to participate in Canada’s national payment infrastructure. Access is not automatic, and any member seeking participation in Payments Canada’s systems must meet technical, operational and security requirements.
Payments Canada 2026-05-05
Payments Canada approves Neo Financial as member under expanded payment service provider eligibility
Payments Canada has approved Neo Financial Technologies Inc. for membership under the expanded framework that allows payment service providers supervised under the Retail Payment Activities Act to join. New payment service provider members gain a direct voice in payment system policies and rules and may apply to participate in national payment infrastructure, subject to technical, operational and security requirements.