Payments Canada welcomes six new members
Payments Canada has approved six new members, expanding its network of participants in the payments ecosystem. The new members include Bounce Finance Inc. (Bounce Pay), Everlink Payment Services ULC (FIS Everlink), Nium Canada Corporation, Pesapeer Incorporated (Pesa), Remitly Canada, Inc., and Vancouver City Savings Credit Union (Vancity).
This addition highlights Payments Canada's commitment to enhancing payment systems and services in Canada. By bringing in diverse players such as fintech firms and credit unions, Payments Canada may strengthen its offerings and encourage innovation in the sector.
Key takeaways
- ▸Payments Canada has approved six new members to its network.
- ▸New members include fintechs and established payment service providers.
- ▸This move reinforces Payments Canada's goal of fostering innovation in payment systems.
Why this matters
The inclusion of diverse companies like fintechs and credit unions signals a push towards a more inclusive and innovative payment landscape in Canada. This can lead to improved services and potentially better rates for merchants and consumers as competition increases within the payments ecosystem.
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