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A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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August 25, 2025
Top Post
Payments Canada Prepares Payment Service Providers for Real-Time Rail Participation With New Guide
Payments Canada
"For the first time, payment service providers (PSPs) will be eligible for Payments Canada membership and Real-Time Rail (RTR) system participation through amendments to the Canadian Payments Act and the introduction of the Retail Payments Activities Act. To help PSPs leverage the full benefits of RTR participation, Payments Canada has released The Real-Time Rail Participation Guide for Payment Service Providers. The guide outlines the process for becoming a Payments Canada member and RTR participant, along with the technical, operational and business requirements to participate."
On the web
Canada Moves Forward on Open Banking While U.S. Backtracks
The Logic
"Turmoil, confusion and animosity are roiling open banking in the U.S.—and some are concerned the same thing could happen in Canada if the country’s rollout of the idea faces more holdups. As it has in the U.S., open banking in Canada has faced repeated delays and pushback from big banks."
August 20, 2025
On the web
Canadians Are Holding More Cash in Their Wallets, Bank of Canada Finds
MSN
"A new survey from the Bank of Canada shows Canadians are keeping more cash in their wallets in an increasingly digital world. The central bank said Thursday that its 2024 survey on payment methods shows Canadians kept an average of $156 in cash on hand, $16 more than in 2023. It was the youngest surveyed cohort, those aged 18 to 34, who held the most in their wallets on average at $206."
August 15, 2025
On the wires
RBC, BMO Planning Sale of $2-Billion Canadian Payments Venture, Sources Say
Reuters
"Royal Bank of Canada and Bank of Montreal have placed their Canadian payments joint venture up for sale, in a deal that may value the business as highly as $2 billion, four people familiar with the matter said.Moneris is one of the largest payment processors in Canada, handling one in every three business transactions in the country."
August 5, 2025
On the wires
Getting Paid for Shopping Just Got Even Easier, Rakuten.ca Launches Interac e-Transfer Payouts
GlobeNewswire News Room
"Getting paid for shopping just got a major upgrade. Rakuten.ca is thrilled to introduce Interac e-Transfer as a brand-new, faster, and more secure way for members to cash in on their Cash Back - straight to their bank accounts in minutes via email. Interac e-Transfer is Canada’s trusted, real-time bank-to-bank digital money transfer service, allowing Rakuten members to receive their Cash Back directly into their bank account using only an email address."
July 25, 2025
On the web
Payments Canada: The Real-Time Rail Quarterly Update with Jude Pinto: 2025 Q3 [Video]
Payments Canada
"The technical build of the RTR will finish in the coming weeks and the program will move into the testing phase, as planned, successfully meeting our target of finishing the build in Q3 of 2025. The build includes the completion of the real-time Clearing and Settlement component, the replatforming of the real-time Exchange and the build of the centralized fraud services."
June 16, 2025
On the web
Accept/Pay Global Launches Real-Time Payments with Interac, Empowering Businesses to Move Money Instantly
Canada Newswire
"Accept/Pay Global announced the launch of its Real-Time Payments with Interac product, enabling businesses across Canada to send and receive payments instantly and securely using Interac e-Transfers. Enterprise customers and financial platforms looking to streamline collections and disbursements can now integrate with our API to deliver speed, convenience, and reliability in payments."
May 29, 2025
On the web
Mastercard Introduces Touch Card by Mastercard™ in Canada, a Tactile Notch Feature Designed to Help Empower the Sight Loss Community
Barchart
"Eight in ten Canadians agree it's important to embed accessibility in financial products for the sight loss community. As payment cards continue to evolve to drive accessibility while adopting modern, flat designs for increased security, Mastercard is introducing Touch Card by Mastercard in Canada. This accessible system of payment cards has unique notches that allow the sight loss community to identify their credit, debit and prepaid cards with just a touch."
May 6, 2025
On the web
Payments Canada Updates Automated Clearing and Settlement System Rules to Enhance Payment Processing
Crowdfunder Insider
"On April 28, 2025, Payments Canada implemented significant updates to the rules governing the Automated Clearing and Settlement System (ACSS), a critical infrastructure for processing electronic payments in Canada. The amendments specifically target bill payment incident management, payment tracing facilities, and the treatment of funds transfer pre-authorized debits (PADs)."
April 28, 2025
On the web
Delivering the Real-Time Rail to Canada
Payments Canada
"The technical build of the Real-Time Rail (RTR) has achieved 60 per cent completion on all fronts and is on target to be finished, as planned in Q3 of 2025. Once built, testing will begin on the system."
February 19, 2025
On the web
Canadians Divided on ‘Appeal’ of Pay by Bank, Says Payments Canada
Open Banking Expo
A study by Payments Canada has found that Pay by Bank “appeals” to fewer than one-third of Canadians, with its appeal increasing among newcomers to the country and gig workers.
February 4, 2025
On the web
Payments Canada Opens Public Consultation on Expansion of Membership
Open Banking Expo
"Payments Canada membership eligibility is set to expand to include payment service providers, as defined in the Retail Payment Activities Act, that perform retail payment activities; credit union locals that are members of a central or a cooperative credit association; and finally, to clearing houses of designated clearing and settlement systems."
January 30, 2025
On the web
Payments Canada: The Real-Time Rail Quarterly Update with Jude Pinto: 2025 Q1 [Video]
Payments Canada
"Since our last update in Q4 of 2024, Payments Canada and our delivery partners, CGI, IBM and Interac, have made substantial progress on the Real-Time Rail (RTR) and are now more than halfway through the technical build of the RTR."
December 11, 2024
On the web
Loop Launches Canada’s First Multi-Currency Credit Card for SMEs
Business Wire
"Loop, the global financial platform used by thousands of Canadian businesses to manage their international finances, is thrilled to announce the launch of the Loop Global Visa Card - Canada’s first card tailored specifically for small and medium-sized enterprises (SMEs) that need to manage cross-border purchasing."
December 6, 2024
On the web
Circle is the First Stablecoin Issuer to Meet New Canadian Listing Rules
Business Wire
"Circle Internet Group, Inc. announced that its regulated subsidiary is the first stablecoin issuer to commit to comply with the Ontario Securities Commission (OSC) and Canadian Securities Administrators’ (CSA) Value-Referenced Crypto Asset (VRCAs) requirements. This facilitates Circle’s U.S. dollar-denominated stablecoin, USDC, being offered on registered crypto asset trading platforms in the Canadian market."
November 26, 2024
On the wires
Vault Expands Payment Capabilities by Launching Interac E-Transfers, Continuing to Build Canada’s Most Comprehensive Business Banking Platform
Business Wire
"Vault, a digital financial platform for Canadian businesses, today announced the launch of Interac e-Transfer payments, a heavily-requested feature that will significantly expand the platform’s payment capabilities. This feature will allow Vault customers to send payments via Interac through the Vault platform."
November 20, 2024
On the web
Beacon Launches Digital Wallet for Immigrants Starting New Lives in Canada
Fintech
"Toronto’s Beacon has unveiled Beacon Money, a digital wallet designed to empower immigrants as they transition to life in Canada. This addition to the MyBeacon Super App aims to simplify financial integration for newcomers, enabling them to confidently prepare for their journey and thrive upon arrival."
November 1, 2024
On the web
More Than 2.5 Million Canadians Only Make the Minimum Payment on Their Credit Cards, Says New Research From Fig Financial
Business Wire
"Fig Financial Inc., Canada’s premier personal loan provider, released its Financial Challenges Barometer, which sheds light on the pressing issues faced by Canadians in managing rising costs and debt, underscoring the essential need for accessible financial options."
October 8, 2024
Top Post
Canada’s Interchange Cuts Add Fuel to the Move Beyond Card Payments
American Banker
The Canadian government is about to cut payment fees for small businesses by up to 27%, adding to international pressure on credit card companies to reduce what they charge users and find alternative sources of revenue. [Subscription Required]
September 23, 2024
On the web
Canada Moves Away From Retail CBDC, Shifts Focus to Broader Payments
Coindesk
"Canada has announced it is shifting its focus away from a retail central bank digital currency but implied that it was prepared if the people of the nation decide such a product is needed in the future."
July 29, 2024
On the web
Majority of Canadians Alter Payment Habits Due to Fraud Concerns — 13 Per Cent Affected by Payment Fraud in the Past Six Months
Payments Canada
"More than one in 10 Canadians have experienced payment fraud in the past six months, indicating similar year-over-year patterns (13 per cent in 2024 compared to 14 per cent in 2023), according to a new study from Payments Canada."
June 21, 2024
On the web
Changes to the Canadian Payments Act Receive Royal Assent
Payments Canada
"The proposed changes to the Canadian Payments Act (CP Act) to expand Payments Canada’s membership have received Royal Assent, the final step required for a bill to become law. The changes were included in the 2023 Fall Economic Statement Implementation Act, also known as Bill C-59, and will come into force on a day/days to be set by the Governor in Council."
April 19, 2024
On the web
Budget 2024: Canada’s Consumer-Driven Banking Framework
Canada
"Consumer-driven banking, also known as open banking or consumer-directed finance, refers to frameworks that allow consumers and small businesses to securely transfer their financial data through an application programming interface (API) to approved service providers of their choice."
April 16, 2024
On the web
Mastercard and Fintech Vopay Enter Strategic Partnership to Empower Canadians to Move Money Quickly and Securely With Mastercard Move
Mastercard
"Mastercard and VoPay announced a strategic partnership that will offer choice, simplicity and efficiency for near-real-time money movement in Canada and internationally for businesses and consumers."
April 15, 2024
On the web
Mastercard and Leading Canadian Fintech VoPay Enter Strategic Partnership to Aid Money Movement for Canadians with Mastercard Move
Fintech Finance
"Responding to the ever-growing need to move money seamlessly, Mastercard and VoPay announced a strategic partnership that will offer choice, simplicity and efficiency for near-real-time money movement in Canada and internationally for businesses and consumers."
March 29, 2024
On the web
Payments Canada Declares Support for HVPS+ ISO 20022 Payments Interoperability Charter
Payments Canada
"Payments Canada is actively involved in promoting harmonization of the ISO 20022 message usage for high-value payment systems globally and is declaring its support for the High-Value Payments Systems Plus (HVPS+)."
March 28, 2024
On the web
Opinion: Canadian Banking Needs More Competition
Financial Post
"Competition and product innovation are hindered by Canada’s outdated financial infrastructure, which lags the real-time payment settlement and consumer-driven banking that have measurably improved outcomes for consumers in all other G7 countries."
November 15, 2023
On the web
Canadians Report a Love-Hate Relationship With Cash, Reveals New Payments Canada Study
Payments Canada
"While cash use has significantly declined over the last six years from 2017-2022, with a 59 per cent decrease in the volume of cash payments and a 41 per cent decrease in the value of cash purchases, new research reveals that Canadians have no intention of ditching their physical wallets just yet."
November 2, 2023
On the web
Payments Canada Selects Nexi To Enhance Critical Resilience of RTGS
Nexi Group
"Payments Canada is now using Nexi’s RTGS Extreme Contingency Solution, specifically designed to ensure the reliability and resilience of the Lynx system."
October 9, 2023
On the web
Bank of Canada Identifies Global Barriers in Developing Inclusive CBDC
CoinGeek
"The Bank of Canada has highlighted several challenges standing in the way of banking regulators looking to launch a central bank digital currency (CBDC) amid rapid digitization."
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