Payments Canada welcomes new members as membership growth accelerates

Fifteen organizations have joined Payments Canada in 2026 to date

OTTAWA, Ontario, June 03, 2026 (GLOBE NEWSWIRE) -- Payments Canada announced today the approval of new members including Beem Credit Union, Ebury Partners Canada Limited (“Ebury”), Shaype Canada Financial Limited (“Shaype”), Libro Credit Union and Newton Crypto Ltd.

This membership growth reflects growing interest in Canadian payments, including potential participation in Payments Canada’s national payment infrastructure, as well as the recent legislative amendments to the Canadian Payments Act. While some organizations are mandatory members under the Act, the recent amendments expanded membership eligibility to payment service providers (PSPs) under the Retail Payment Activities Act, local credit unions that are members of a central and clearing houses operating payment systems designated under the Payment Clearing and Settlement Act. Expanded membership eligibility provides a wider variety of organizations more flexibility in how they engage with Payments Canada.

“A modern, inclusive and resilient payment system is essential to Canada’s economic growth and competitiveness,” said the Honourable François-Philippe Champagne, Minister of Finance and National Revenue. “Continued growth in Payments Canada’s membership and expanded access to critical national infrastructure will unlock innovation, strengthen competition, and help level the playing field – delivering more secure, efficient choices and better financial services for Canadians and businesses.”

Payments Canada also welcomed the following new members in 2026: Wise Payments Canada Inc, Float Financial Solutions, KOHO Financial Inc., Element Financial Technology Inc. (“Paramount Commerce”), Brim Financial Inc., uSecure Escrow Solutions Inc. (“DoBusiness.com”), Neo Financial Technologies Inc., Meridian Credit Union, and Tru Cooperative Bank.

"We are thrilled by the sustained momentum and eagerness from organizations looking to join Payments Canada, a first step that opens up opportunities for eligible organizations to explore future participation on our systems, including Canada’s forthcoming Real-Time Rail," said Donna Kinoshita, Chief Payments Officer, Payments Canada. "Welcoming fifteen new members already this year highlights a shared excitement for the future of Canadian payments that was echoed throughout The 2026 Payments Canada SUMMIT, including by the Minister of Finance and National Revenue. As our membership base grows, it strengthens the ecosystem and supports our vision of enabling productivity, prosperity and economic growth that ultimately benefits consumers and businesses in Canada.”

Ensuring the safety and soundness of Canada’s payment systems remains a foundational priority for Payments Canada. Participating within Payments Canada’s systems requires meeting rigorous technical, operational, security and other requirements related to the system and their chosen participation model. These participation requirements ensure that as new participants are introduced, the safety and resilience of national infrastructure is continuously upheld.

Eligible organizations are welcome to explore the benefits of membership and contact Payments Canada at info@payments.ca for more information.

CONTRIBUTED QUOTES

"We're very excited to be joining Payments Canada, which we believe is a natural next step as we continue to grow. Membership gives Newton a voice at the table in Canada's core payments infrastructure, allowing us to move faster, operate more efficiently, and deliver better experiences for our clients. We look forward to helping shape the integration of digital assets with the future of payments in Canada." — Chantelle D’Alves, CEO, Newton Crypto Ltd.

“As one of the first credit unions to join Payments Canada, Libro is proud to be helping move the sector forward at a pivotal time for Canada’s payments ecosystem. We’ve always believed in the power of partnership and innovation to create better outcomes for our members. This milestone gives us a stronger voice in shaping a more inclusive and competitive payment system, while supporting our continued work to deliver secure, reliable payment solutions for our members and the communities we serve.”   — Shawn Good, President and CEO, Libro Credit Union

"Canada is modernizing its payment systems for a real-time future, and that calls for members invested in the outcome, not just the access. Shaype has spent seven years helping Australia do exactly this. We're here to bring that experience to Canadian brands, businesses and banks, building the financial experiences of tomorrow." — Andrew Laycock, CEO and Founder, Shaype

"We have been working with Payments Canada since the launch of its Modernization Plan, so this is an announcement we have been looking forward to! As the first to directly connect to the Faster Payments System in the United Kingdom and indirectly to the Single European Payments Area in Europe, we have always been at the forefront of working with forward-looking Financial Market Infrastructures. This is another example of our intent. We strongly believe that moving money internationally shouldn't be a barrier to growth for Canadian businesses, and issuing our own accounts is key to that aim. With a direct voice in the ecosystem, we can deliver even faster, more secure, and cost-effective cross-border payment solutions, ultimately helping Canadian businesses compete and scale on the global stage. We are excited to leverage this opportunity to bring our world-class global collection, payment and foreign exchange solutions directly to Canadian businesses, fueling their international success." — Mark Hewlett, Group Head of Banking & Infrastructure, Ebury

“Payments underpin everything we do in the economy, and I’m passionate about ensuring that the future of payments in Canada reflects the needs of consumers. Being at the table allows us to help shape a more inclusive and effective system.” — Brian Harris, Beem CEO, Beem Credit Union

“This is about turning payments innovation into real-world benefits that help our members move money faster, more securely, and with greater ease as their expectations continue to evolve” — Oscar Roque, Chief Product and Innovation Officer, Beem Credit Union

About Payments Canada:
Payments Canada enables prosperity, productivity and safety for Canada through trusted, critical national payment infrastructure. As a public-purpose organization, we own and operate Canada’s critical national payment systems: Lynx; the Automated Clearing Settlement System (ACSS); and Canada’s forthcoming Real-Time Rail (RTR) payment system. We establish the by-laws, rules and standards that govern these systems, which cleared and settled $103 trillion in 2025 — more than $411 billion every business day. Transactions that pass through our systems include debit card payments, pre-authorized debits, direct deposits, bill payments, wire payments and cheques. In collaboration with our diverse membership, we continue to modernize Canada’s payment ecosystem to promote innovation, competition and deliver efficiencies that power a modern economy.

For media inquiries, please visit Payments Canada’s media centre.

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