Adyen Canada joins Payments Canada in membership boost

Adyen Canada has joined Payments Canada, becoming the sixteenth new member admitted this year.

The addition follows changes to the Canadian Payments Act that widened eligibility for Payments Canada membership. The changes opened the door to payment service providers defined under the Retail Payment Activities Act, as well as credit union locals that are members of a central and clearing houses of systems designated under the Payment Clearing and Settlement Act.

For Adyen, the membership marks a deeper step into Canada's payments infrastructure as the Dutch fintech seeks a larger role in the market. Its registration under the Bank of Canada's Retail Payment Activities Act helped clear the way for admission.

Payments Canada operates the national systems used for high-value and retail batch payments and is developing the forthcoming Real-Time Rail. Its membership includes the Bank of Canada, domestic banks, authorised foreign banks, life insurance companies, securities dealers, money market mutual funds and other deposit-taking institutions.

Adyen said membership gives it a direct voice in discussions about the development of Canada's payments system. It also highlighted practical implications for merchants and partners if it later participates directly in national systems, including settlement speed, access to transaction data and security features.

Sander Meijers, Canada country manager at Adyen, described the decision as part of the company's wider strategy in the country.

"Joining Payments Canada is the culmination of our intentional efforts to grow in this market," said Sander Meijers, Canada country manager at Adyen. "Our registration under the Bank of Canada's Retail Payment Activities Act paved the way to this moment, and membership now gives us a direct voice in shaping an ecosystem where competition, trust and innovation can thrive for fintechs, businesses and consumers alike. We are excited about our membership as this is the first step to unlocking the significant benefits of system participation - faster settlements, easier access to richer data and more security - for our merchants and partners in payments and money movement in general."

Broader access

Adyen's admission reflects a broader policy shift in Canada's financial system, with non-bank payment groups gaining access to parts of the national framework historically dominated by incumbent financial institutions. The expansion is intended to widen representation within Payments Canada and create a more varied member base.

Donna Kinoshita, chief payments officer at Payments Canada, said the latest addition showed the legislative changes were having the intended effect.

"Welcoming a global fintech leader like Adyen as our sixteenth new member this year proves that the legislative updates to the Canadian Payments Act are working exactly as intended," said Donna Kinoshita, chief payments officer at Payments Canada. "By expanding membership eligibility, we are driving inclusivity and bringing more diverse perspectives to the table. We are also broadening access to our national payment infrastructure to more members who are qualified and choose to participate - enabling them to deliver innovative solutions that ultimately enhance productivity and prosperity across the Canadian economy."

Canada's payment sector has been undergoing regulatory and structural change as authorities seek to modernise systems that handle everyday consumer and business transactions alongside large-value transfers. Payments Canada said its systems cleared and settled CAD $103 trillion in 2025, equivalent to more than CAD $411 billion every business day.

Those flows include debit card payments, pre-authorised debits, direct deposits, bill payments, wire payments and cheques. Membership does not amount to direct participation in every system, but it is a necessary first step for organisations that want to explore that route.

Canadian push

Adyen has been expanding its presence in Canada as part of a broader effort to strengthen its position in North America. The company provides payment services and financial technology tools to large international businesses, counting Uber, H&M, eBay and Microsoft among its global customers.

Its addition to Payments Canada's membership points to growing appetite among fintech groups to secure a more formal place in domestic payment networks. For companies such as Adyen, that can mean closer involvement in the rules, standards and operational structures that shape how money moves across the country.

The membership expansion also changes the composition of Payments Canada itself. What was once a more narrowly defined group centred on banks and other traditional financial institutions is becoming more mixed, with payment specialists and other newly eligible entities entering the fold.

That shift could have implications for how the country's payment infrastructure develops, particularly as new systems are introduced and existing frameworks are updated. Adyen's membership gives it access to that institutional process as the Canadian market opens more widely to non-bank payment providers.

Payments Canada said membership opens opportunities for eligible organisations to consider future participation in its systems, including the Real-Time Rail.