Payments Canada reported that it had 111 members across Canada as of December 2025 and highlighted several organisations that have joined in recent years. The newly recognised members were Questbank, CI Investment Services Inc., Santander Consumer Bank, Shakepay Inc., Innovation Credit Union and Questrade, Inc. Payments Canada noted that membership includes the Bank of Canada, domestic and authorised foreign banks, life insurance companies, securities dealers, money market mutual funds and other deposit-taking institutions, and that 2025 amendments to the Canadian Payments Act expanded eligibility to include payment service providers as defined in the Retail Payment Activities Act, credit union locals that are members of a central, and clearing houses and systems designated under the Payment Clearing and Settlement Act.
Payments Canada 2025-12-22
Payments Canada reports 111 members and highlights expanded membership eligibility under 2025 legislative amendments
Payments Canada announced it had 111 members as of December 2025, including recent additions such as Questbank and CI Investment Services Inc. The 2025 amendments to the Canadian Payments Act expanded membership eligibility to include payment service providers, credit union locals, and designated clearing houses.