Payments Canada adds six members as access expansion broadens payments infrastructure participation

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Payments Canada access expansion

Highlights

Payments Canada approved Bounce Finance Inc., Everlink Payment Services ULC, Nium Canada Corporation, Pesapeer Incorporated, Remitly Canada, Inc. and Vancouver City Savings Credit Union as new members.
The membership expansion, effective since September 2025, follows amendments to the Canadian Payments Act and Retail Payment Activities Act allowing more payment service providers and credit unions access.
The policy aims to spur innovation and competition by granting broader direct participation in Lynx, the Automated Clearing Settlement System and the upcoming Real-Time Rail, while maintaining system security standards.

Membership expansion and system access

As announced by Payments Canada, the newly approved members are Bounce Finance Inc., Everlink Payment Services ULC, Nium Canada Corporation, Pesapeer Incorporated, Remitly Canada, Inc. and Vancouver City Savings Credit Union.

The organization says the additions coincide with the first anniversary of expanded membership eligibility, which took effect in September 2025 through amendments to the Canadian Payments Act and the implementation of the Retail Payment Activities Act. Those changes widen eligibility to payment service providers registered under the RPAA, local credit unions that are members of a central, and clearing houses of systems designated under the Payment Clearing and Settlement Act.

Eligible members may apply to participate directly in Payments Canada’s systems, including Lynx, the Automated Clearing Settlement System and the forthcoming Real-Time Rail. Payments Canada says access still requires organizations to meet technical, operational and security standards tied to their participation model.

Competitive and economic implications

The broader membership framework is intended to open Canada’s core payments infrastructure to more participants while preserving system resilience. Payments Canada says the safeguards are designed to protect the safety and soundness of national payment infrastructure as the member base expands.

Finance Minister François-Philippe Champagne says the changes create new room for innovation and competition while maintaining secure payment systems for consumers and businesses. Donna Kinoshita, chief payments officer at Payments Canada, says the first-year intake shows strong industry demand to modernize payments and positions a wider range of providers and credit unions to prepare for the economic benefits expected from faster payment services.

Our earlier report on Mexico’s credit unions highlighted that the sector maintained strong solvency in Q2 2026, with the capital ratio rising to 25.5%, even as profitability weakened amid higher loan-loss provisions and rising delinquencies. We also noted that lower interest rates could support credit growth but may squeeze margins, while agrofinance-focused institutions face added asset-quality risks tied to climate shocks.

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