PayTechs of Canada

It’s time to better the Canadian payment experience. Join us.

Canada’s payments lag behind​

The Canadian payments services marketplace has been slow to introduce innovative products and services seen on the global stage. A lack of competition has allowed inefficiencies to creep into the market due to aging or outdated technologies, processes, or policies.

Our goals

In the interest of our members, Canadian consumers, businesses, and government, we are a not-for-profit association working to improve Canada’s national payments system. We have three primary strategic goals:

Offer greater choice

Have an Open Banking framework implemented in Canada.

Improve critical infrastructure

Have a modern payment system deployed, such as a Real-Time Rail.

Broaden payment access

Have PayTech firms directly participate in the payment system.

Member benefits

As a member, you have the opportunity to challenge roadblocks facing PayTech firms and drive change that will provide your business with unparalleled opportunities. You will be informed of industry updates impacting your business and receive exclusive access to information through our members-only portal.

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What our members have to say

Canada is among the most immigrant-reliant advanced economies, attracting people from all around the world. As a result, there is a growing need for better, safer money transfer solutions for those who need to send money to their family, friends and loved ones. Joining Paytechs of Canada will help contribute to our mission of helping Canadians connect globally and providing cost-effective money transfer services that are convenient and accessible.

Timur Shomansurov,
Country Manager, Canada,
Paysend

“If we are going to make any material progress in support of Open Banking and the Real-time Rail in Canada, the PayTech industry needs a strong advocate that is independent from the incumbent legacy banks. That voice is PayTechs of Canada.”

Marcus Dagenais,
President,
Payroc

EQ Bank is excited to be joining Paytechs of Canada. In coming together with other Canadian banks, fintechs and paytechs through this organization, we can collectively advocate for positive change in the payments ecosystem.

Kartik Kamat,
Senior Director of Digital Banking Strategy and Payments,
EQ Bank

Check out our latest

Paytechs of Canada welcomes Paysend as its newest member

Posted in: News

“Canada is among the most immigrant-reliant advanced economies, attracting people from all around the world. As a result, there is a growing need for better, safer money transfer solutions for those who need to send money to their family, friends and loved ones,” said Timur Shomansurov, Country Manager of Paysend in Canada. “Joining Paytechs of Canada will help contribute to our mission of helping Canadians connect globally and providing cost-effective money transfer services that are convenient and accessible.”

Canadians want better financial services, finds a recent survey

“At a macro level, we’ve long known that the Canadian financial services sector isn’t as productive as it could be because of barriers to competition and innovation, which is part of the reason why the government is modernizing its approach to financial sector policy,” said Alex Vronces, executive director of Paytechs of Canada. “These surveys shine a light on the often-neglected human cost of less competition and innovation for consumers and businesses.”

Paytechs of Canada submits response to pre-budget consultation

Posted in: News

There are several ways Canada could make its financial sector more competitive and innovative, more inclusive, and more robust as consumers and businesses take more and more of their behaviour online.