Interac welcomes measures outlined in the Government of Canada’s 2025 Budget to strengthen Canadian economic sovereignty, foster growth and innovation, and promote affordability.
The Budget advances important reforms to Canada’s digital economy, financial sector, and payments system, laying the groundwork for secure, modern ways for Canadians to pay and move money. These measures will modernize payments infrastructure, strengthen consumer confidence, and foster innovation and competitiveness across the financial system.
Interac supports the Government’s recognition of the Real-Time Rail (RTR) as nation-building payments infrastructure and remains committed to working with Payments Canada toward its launch in 2026. We also welcomed recent legislative milestones including the Retail Payment Activities Act (RPAA), which broaden participation in Canada’s payments systems.
Interac has broadened access to Interac e-Transfer to eligible RPAA-regulated Payment Service Providers in September 2025, supporting greater choice and innovation across the ecosystem. Interac e-Transfer continues to connect millions of Canadians every day through a secure, low-cost network. In 2025, we adopted a flat-fee model for participating institutions to enhance transparency and ensure all partners have equitable access to Canada’s most widely used money-movement service.
As we prepare for the next wave of financial innovation, Interac is supportive of the government’s plan to introduce legislation to regulate the issuance of fiat-backed stablecoins, with clear standards for issuance, reserves, risk management, and redemption. This is an important step in strengthening Canada’s sovereignty and leadership in secure, trusted digital money.
Progress toward a legislated Consumer-Driven Banking Framework marks another major milestone in empowering Canadians to securely access and share their financial data. Interac has played an active role in shaping this framework from the outset and is encouraged to see it moving to the next phase of delivery.
Interac also welcomes the National Anti-Fraud Strategy and creation of a Financial Crimes Agency to enhance Canada’s response to scams and complex financial crimes, because innovation will only benefit Canadians if it is trusted and secure.
For more than four decades, Interac has worked with government, regulators, and the financial sector to build trusted, made-in-Canada payments infrastructure. As a 100% Canadian-owned and operated organization, we remain focused on delivering innovative, trusted, and affordable payment and verification capabilities for Canadians, strengthening the foundation for a more connected and inclusive digital economy.
