Pesa Joins Payments Canada Expanding Cross-Border Financial Services

Pesa, a global financial platform, has joined Payments Canada, marking a significant step in its journey to enhance cross-border financial transactions. This move comes as Payments Canada broadens its membership to include registered payment service providers, such as Pesa, under the Retail Payment Activities Act (RPAA). The inclusion of Pesa in Payments Canada's membership reflects the growing interest in Canadian payments and aligns with the organization's efforts to expand access to Canada's national payment infrastructure and support greater participation and innovation across the payments ecosystem.

The addition of Pesa to Payments Canada's membership is part of a broader initiative by Payments Canada to welcome organizations that meet the applicable technical, operational, and security requirements.

Scheduled for launch in Q4 2026, the RTR is designed to enable instant, data-rich payments 24 hours a day, 365 days a year. This new infrastructure is expected to generate between $5.3 billion and $14.5 billion in cost savings over the next decade, with total economic gains of $16 billion, potentially exceeding $27 billion as additional functionality is introduced. The RTR will move money within Canada, and if Pesa ultimately participates in these systems, the underlying infrastructure could support improvements to the speed, transparency, and convenience of the inbound segment of payment experiences for customers moving money across borders.

From an engineering perspective, Pesa's membership with Payments Canada means getting closer to the infrastructure that underpins how payments move in Canada.

Pesa operates across Canada, the United States, the United Kingdom, Australia, Nigeria, and select European markets, enabling customers to send money to 40+ countries worldwide. With a focus on security, reliability, and a seamless customer experience, Pesa is building an ecosystem that simplifies the process of moving and managing money across borders. This membership with Payments Canada opens new ways for Pesa to engage with the broader payments ecosystem and apply for participation in Canada's national payment systems, subject to meeting the applicable requirements.

This membership is part of Pesa's ongoing commitment to modernizing cross-border financial transactions and enhancing the overall customer experience. As Pesa continues to grow and innovate, its membership with Payments Canada positions it well to contribute to the modernization of Canada's financial infrastructure.