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)."
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."
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.
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."
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."
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."
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."
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."
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."
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."
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]
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."
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."
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."
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."
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."
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."
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+)."
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."
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."
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."
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."
GlobeNewswire News Room
"B2B businesses working with Nuvei are now able to offer their customers in Canada a holistic payments solution including Card-Not-Present and account-to-account processing capabilities, Level 3 processing and Nuvei’s proprietary accounts receivable (AR) solution, directly integrated with their ERP system."
BetaKit
"Quantum security startup EvolutionQ is contributing to a Bank of Canada research project involving quantum-safe cybersecurity technologies for digital currencies."
Businesswire
"Today, Coinbase announced its Canadian expansion with a series of new offerings that demonstrate its commitment to Canada as a priority Go Deep market."
Bitcoinist.com
"Central Bank Digital Currencies (CBDCs) have been gaining prominence around the world over the last couple of years and Canada has not been left out. However, unlike some countries where these central bank-issued digital currencies seem to be picking up steam, Canadians have not been as welcoming."
News Wire
"PayPal helps customers shop and pay with peace of mind by helping to protect their privacy, money and purchases every step of the way. Starting today, the company is expanding passkeys to eligible customers on Apple devices and Google Android devices in Canada."
BetaKit
"Payments Canada has announced that the launch of the country’s forthcoming Real-Time Rail (RTR) payment system has been delayed once more."
GlobeNewswire News Room
"RevoluGROUP Canada Inc., (the "Company") is pleased to announce that further to the news release dated 24th of March 2023, the RevoluPOS Worldwide Credit and Debit Card Billing and processing platform has now launched on schedule."
Policy Options
"Canada must act swiftly to remain on track with modernizing its financial sector policies that affect how consumers make payments. Other countries are adopting fintech innovation at a much faster pace, leaving Canadians with limited consumer choice and competition among financial service providers compared with other parts of the world."
