RPAA-registered Payment Service Providers can now apply to join, fostering access and innovation in Canadian payments.
TORONTO, ON – September 16, 2025 – Interac Corp. (Interac) today announced it has broadened participation criteria for the Interac e-Transfer service to include Payment Service Providers (PSPs) registered under Canada’s new Retail Payment Activities Act (RPAA). Qualifying PSPs can now apply for Participant status, significantly increasing access to one of Canada’s most widely used and trusted payment services.
Designated and overseen by the Bank of Canada as a Prominent Payment System, Interac e-Transfer is a Canadian-owned and operated network that is central to digital payments in Canada.
PSPs that are both RPAA-registered and registered as a Money Services Business (MSB) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) are now eligible to apply for participation in the Interac e-Transfer service. This creates a new avenue to access Interac e-Transfer and opens participation in the network to eligible PSPs alongside existing bank, credit union and fintech participants.
“Expanding access to Interac e-Transfer under the RPAA is a pivotal step in creating more choice and innovation in Canadian payments,” said Jeremy Wilmot, President & CEO at Interac. “By welcoming new regulated providers into our national network, we’re enabling Canadians and businesses to transact securely and conveniently with a wider range of partners, ultimately strengthening both access and innovation in digital payments.”
This expansion aligns with the RPAA, Canada’s first federal oversight framework for PSPs, which came into force on September 8, 2025. By establishing new operational and risk-management standards, the RPAA provides a framework that can support access and innovation by providing regulated PSPs access to Canadian payments infrastructure such as Interac e-Transfer.
Eligible PSPs will undergo an application process to join the network, including compliance assessments and technical onboarding. Timelines will vary based on applicant readiness and implementation complexity.
Interac offers multiple paths of access, allowing PSPs to connect as Participants to Interac e-Transfer directly or indirectly through a trusted Connection Service Provider, or access Interac e-Transfer as commercial customers through other Participants. This initiative underscores Interac’s dedication to broadening Interac e-Transfer access to more PSPs and fintechs, supporting access and innovation in the Canadian payments ecosystem.
Key facts about Interac e-Transfer:
- Over 20 years as a trusted payment exchange in Canada.
- More than 1.4 billion transactions over a 12-month period in 2024, worth $554 billion.
- Over 20 per cent of transactions in 2024 were sent or received by a business.
For more information on the application and onboarding process, please visit our FAQs page.
About Interac Corp.
Interac empowers Canadians to transact digitally with confidence by providing payment and value exchange services. In helping to develop the future of money movement in Canada, security is at the core of everything we do. We help keep Canadian customers safe and secure when transacting. With nearly 300 financial institutions connected to our network, Canadians choose Interac products over 20 million times a day on average to exchange money. Interac champions workplace culture, community, and corporate citizenship. We are proud to be one of Canada’s leading and most trusted financial brands.
For further information:
Media contact: Interac Corp., media@interac.ca
To apply as a new applicant: newapplicants@interac.ca
