Our membership at Payments Canada includes the Bank of Canada, domestic banks and authorized foreign banks, life insurance companies, securities dealers, money market mutual funds 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. Payments Canada is funded by its membership, which stood at 111 at the end of 2025.
Members are eligible to apply to access our payment systems.
Our participants are mandatory members (a duty required by the Canadian Payments Act) and non-mandatory or eligible members. Our mandatory members are all chartered banks operating in Canada and the Bank of Canada. Non-mandatory or eligible members are trust and loan companies, credit union centrals, life insurance companies, and federations of caisses populaires and other deposit-taking institutions.
Directory of participant financial institutions Become a member
We engage with our participants informally through regular consultation, and formally through operational committees and our Member Advisory Council (MAC).
Call for Nominations
Payments Canada is now accepting nominations for appointments to the 2026 Member Advisory Council (MAC). The nomination deadline is April 15, 2026.
Member Advisory Council
MAC is a 20-person council codified in the Canadian Payments Act that serves as a consultative and engagement forum for system participants who are also members of Payments Canada. It is broadly representative of the diversity of our system participants. Members are nominated and appointed by our Board of Directors. Each term runs for three years.
Mandate
The Council's mandate, set out in the legislation, is to provide counsel and advice to the Board on our clearing and settlement systems, the interaction of those systems with other systems involved in the exchange, clearing or settlement of payments and the development of new technologies.
Members (As of February 2026):
- ATB, Ryan Rabin
- Bank of America, Leslie Konecny
- Bank of Canada, Ian Christensen
- Bank of Montreal, Rebecca Tascona
- Canadian Imperial Bank of Commerce, Michael Liberty - Member Advisory Council Vice Chair
- Central 1, Barclay Hancock
- Citi, Mohneet Gujral
- EQ Bank, Janet Lin
- ICICI Bank Canada, Rajesh Nimgire
- JPMorgan Chase, National Association, vacant
- La Fédération des caisses Desjardins du Québec, Isabelle Dreyer
- National Bank of Canada, Patrice Roy
- Peoples Trust Company, vacant
- PNC Bank, Steve Faust
- Royal Bank of Canada, Gabriel Woo
- Shakepay, Eric Richmond
- Scotiabank, vacant
- TD, Christine Hunter
- Wealthsimple Investments Inc, Hanna Zaidi
- Wells Fargo, Rosalie Fink
Eligibility requirements for Council membership and the yearly nomination process are set out in our General by-law and the Administration by-law respectively.