The membership gives Pesa a route to apply for involvement in Canada’s national payment systems as it works toward faster, more transparent money movement
“Joining Payments Canada as a member marks a major achievement for Pesa and shows how much progress we have made in creating trusted financial infrastructure in Canada…”— Tolulope Osho, CEO and Co-founder of PesaTORONTO, ONTARIO, CANADA, October 3, 2026 /EINPresswire.com/ — Pesa, a cross-border financial services provider serving diaspora communities in the UK, Canada, the US, Nigeria, Ghana, Kenya, the UAE and Europe, announced today that it has been admitted as a member of Payments Canada, the statutory public-purpose body that oversees Canada’s essential payment infrastructure.
This membership follows revisions to the Canadian Payments Act that expanded eligibility to include registered payment service providers under Canada’s Retail Payment Activities Act (RPAA). These changes aim to broaden access to Canada’s national payment infrastructure and encourage greater participation and innovation throughout the payments landscape.
For Pesa, this membership creates new opportunities to interact with Payments Canada and opens a path to more directly connect with Canada’s payment infrastructure. It also allows Pesa to apply for participation in its systems, provided it meets the necessary requirements.
Tolulope Osho, Chief Executive Officer and co-founder of Pesa, stated:
“Becoming a member of Payments Canada is a significant milestone for Pesa and for the customers who rely on us to transfer money across borders. We launched Pesa because we knew from personal experience how difficult and frustrating that process could be. As we have expanded, we have focused on building the infrastructure behind the experience just as much as the interface itself. This membership gives us another chance to work toward faster, smoother ways for our customers to move and manage their funds.”
Getting ready for the next era of payments
Pesa’s membership arrives at a pivotal moment in the modernization of Canada’s payment infrastructure.
Set to go live in Q4 2026, Canada’s Real-Time Rail (RTR) will enable instant, data-rich payments around the clock, 365 days a year. To maintain the safety, security and stability of Canada’s financial system, Payments Canada is adopting a phased approach for onboarding participants who satisfy the applicable technical, operational and security standards before joining.
The C.D. Howe Institute predicts that the RTR’s initial features could produce between $5.3 billion and $14.5 billion in cost savings over the next decade, with total economic benefits reaching $16 billion, potentially exceeding $27 billion as more functions are added. Since the RTR processes domestic payments, if Pesa eventually takes part in these systems, the underlying infrastructure could enhance the speed, transparency and convenience of the inbound portion of the payment experience for customers moving money across borders.
Donna Kinoshita, Chief Payment Officer at Payments Canada, commented: “Bringing organizations like Pesa into Payments Canada’s membership shows the rising interest in Canadian payments. Pesa is joining at an exciting time as we get ready for the launch of Canada’s Real-Time Rail. Membership is the essential first step toward participating in the RTR, which will unlock billions in economic benefits, fueling payment innovation and productivity for Canadian businesses and consumers.”
Wale Afolabi, co-founder and CTO at Pesa, added: “From an engineering standpoint, this is about getting closer to the infrastructure that underpins how payments move in Canada. As that infrastructure evolves, we want to be in a position to build alongside it. That means thinking not just about how money moves today, but about how we can improve that experience for customers tomorrow.”
About Pesa
Pesa is a global financial platform that simplifies moving, managing and using money across borders. Through its intuitive platform, customers can send money internationally, convert and hold multiple currencies, and access other financial products designed for lives and businesses that span multiple countries. Headquartered in Mississauga, Ontario, Pesa operates in Canada, the United States, the United Kingdom, Australia, Nigeria and select European markets, enabling customers to send money to over 40 countries worldwide. Pesa functions through regulated entities and holds the necessary licences and registrations to deliver its services in key markets, including Canada, the United States, the United Kingdom and Australia. With a focus on security, reliability and a seamless customer experience, Pesa is building an ecosystem that makes moving and managing money across borders easier.
For inquiries, email partnerships@pesa.co
Ogechi Akinuli
Pesa
oge@pesapeer.com
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