Statement from Adriana Vega, executive director of Fintechs Canada
OTTAWA, Oct. 6, 2026 — Fintechs Canada supports the ambition to connect Canada’s payment systems with global peers, as signalled in recent reports on a draft Canada-EU agreement. It is the right long-term goal for Canada, one that can increase competition, lower costs and improve how consumers and businesses move money.
But global links start at home. Canada’s new instant-payment system, the Real-Time Rail (RTR), is scheduled to begin a phased launch later this year, and Canada can only plug into international rails once it succeeds here. The real test will be how much of Canada’s payment volume actually moves onto the rail, and whether all participants, including fintechs, have fair access to connect and compete. That’s why Fintechs Canada is calling on government and Payments Canada to publish a regular, public adoption scorecard to track progress.
Success will require all participants, especially incumbents, to move fast, engage fully and shift payment volume onto the rail. Linking the RTR to international systems before it is widely used at home would add complexity to an already demanding rollout.
Fintechs Canada has long advocated for payment modernization underpinned by the RTR, and fintechs are all in on making it work. We welcome the opportunity to collaborate with government and help shape Canada’s approach to international payment links.
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About Fintechs Canada
Fintechs Canada is the collective voice for Canada’s financial technology sector. Its more than 50 members serve millions of Canadians across the country. Learn more at fintechscanada.ca.
For media inquiries, please contact:
Hana Sabah
Director of Communications
Fintechs Canada
hana@fintechscanada.ca
514-834-8841
