Payments Canada has approved six new members: Bounce Pay, FIS Everlink, Nium, Pesa, Remitly and Vancity. This brings the number of organizations admitted since membership eligibility expanded in September 2025 to 22. Membership is a prerequisite for organizations seeking to apply for direct participation in Canada’s national payment systems, including the forthcoming Real-Time Rail, but access remains subject to technical, operational and security standards. The expanded framework covers payment service providers registered under the Retail Payment Activities Act, local credit unions that are members of a central, and clearing houses for designated systems. Eligible members may apply to participate directly in Lynx, the Automated Clearing Settlement System or the Real-Time Rail. The Real-Time Rail is scheduled to launch in the fourth quarter of 2026 and will support instant, data-rich payments at all times. Its initial capabilities are expected to produce CAD 5.3 billion to CAD 14.5 billion in cost savings and CAD 16 billion in economic gains over the next decade, potentially rising above CAD 27 billion as further functions are introduced.
Payments Canada approves six new members, bringing additions under expanded eligibility to 22
Payments Canada has approved six new members, taking total admissions under the expanded eligibility framework to 22. Membership creates a pathway to apply for direct participation in national payment systems, subject to technical, operational and security standards. The Real-Time Rail is scheduled to launch in the fourth quarter of 2026.