Membership

Membership opens up the opportunity to access the payment infrastructure owned and operated by Payments Canada.

Our members are committed to upholding Payments Canada’s mandate, including following the legal framework of the national payment systems as set out in the Canadian Payments Act.

Payments Canada membership is categorized into two types: mandatory members and non-mandatory — or eligible — members. Mandatory members are the Bank of Canada and all chartered banks operating in Canada. Non-mandatory members are trust and loan companies, credit union centrals, life insurance companies and federations of caisses populaires and other deposit-taking institutions.

Amendments to the Canadian Payments Act in 2025 opened membership to also include payment service providers as defined in the Retail Payment Activities Act, credit union locals that are members of a central, and clearing houses of systems designated under the Payments Clearing and Settlement Act.

Value of membership

Access

The participation requirements for each payment system vary depending on an organizations’ participation level. A direct participant is a financial institution that has a settlement or clearing account with the Bank of Canada and is authorized to access and participate on the payment systems directly. Payments Canada membership does not guarantee access to payment systems.

• the Retail batch payment system includes direct participants — direct clearers, group clearers and clearing agents — and indirect clearers—members that use the services of a clearing agent for exchange and settlement of payment items
• Lynx, Canada’s high-value payment system includes direct participants and Lynx non-participant partners
• the Real-Time Rail, Canada's forthcoming instant payment system 

Contribute

Payments Canada members have the opportunity to stay informed and contribute to Payments Canada initiatives. We offer formalized processes, including working groups and committees where members work with payment system experts, as well as regular interactions with our Industry Relations team for a more personalized engagement.

Members may:

• apply for a seat on the Member Advisory Council
• be eligible to apply for a member seat on the Board of Directors
• vote at the annual member meeting
• participate on Payments Canada governance committees

Learn

Payments Canada delivers original, high-quality research and insights that inform policy development, strategic and operational decision-making to members.

Members may: 

• provide feedback on policy development
• receive early access to Payments Canada market research, reports and in-depth presentations
• access tailored system analytics reports

Connect at The SUMMIT

Members have an opportunity to play a prominent role at The SUMMIT, Canada’s premier payment event. Our members receive early access to special offers and announcements, and other exclusive experiences and learning opportunities.

Expanded membership eligibility

In September 2025, changes to the Canadian Payments Act (CP Act) were implemented, marking a critical step toward a more inclusive and innovative national payment infrastructure in Canada. The legislative changes expand Payments Canada membership to a wider range of participants — including payment service providers as defined in the Retail Payment Activities Act, credit union locals that are members of a central, and clearing houses of systems designated under the Payments Clearing and Settlement Act.

We look forward to working with the industry to bring the benefits of broader access to life.