On October 3, 2026, Pesa announced its membership in Payments Canada. The cross-border financial services provider serves diaspora communities in the United Kingdom, Canada, the United States, Nigeria, Ghana, Kenya, the United Arab Emirates, and Europe. The move follows amendments to the Canadian Payments Act that broaden eligibility for registered payment service providers and create a pathway for Pesa to engage more directly with Canada's national payment infrastructure.
Pesa Joins Payments Canada
Payments Canada is the statutory, public purpose organization responsible for Canada's critical payment infrastructure. Recent amendments to the Canadian Payments Act opened eligibility to registered payment service providers under the Retail Payment Activities Act, expanding access to national payment systems. For Pesa, membership represents an important step in its efforts to improve cross-border money movement and deliver faster, more seamless services to customers.
Preparing for the Real-Time Rail
The announcement arrives as Canada prepares to launch its Real-Time Rail, or RTR, in the fourth quarter of 2026. The system is intended to enable instant, data-rich payments 24 hours a day, 365 days a year, while protecting safety and security through a phased onboarding process. The C.D. Howe Institute estimates initial RTR capabilities could generate between 5.3 billion and 14.5 billion Canadian dollars in cost savings, and total economic gains could reach 16 billion, potentially exceeding 27 billion.
Leadership Perspectives
Tolulope Osho, Chief Executive Officer and co-founder at Pesa, said the membership marks an important milestone for the company and for customers who trust it to move money across borders. He noted that Pesa was founded after firsthand experiences with difficult and frustrating cross-border transfers, and the company has invested in infrastructure as much as the customer experience. Osho added that the membership provides another opportunity to build toward faster, more seamless ways for people to move and manage money.
Donna Kinoshita, Chief Payment Officer at Payments Canada, said welcoming organizations like Pesa reflects growing interest in Canadian payments. She noted that Pesa is joining at an exciting moment as the country prepares for the RTR launch. Kinoshita added that membership is the first step to participating in the RTR, which will catalyze billions in economic benefits and drive payment innovation and productivity for Canadian businesses and consumers.
Wale Afolabi, co-founder and Chief Technology Officer at Pesa, described the membership as an opportunity to work closer to the infrastructure that underpins how payments move in Canada. He said the company wants to be positioned to build with that infrastructure as it evolves. Afolabi added that Pesa is focused not only on how money moves today but also on how the experience can be improved for customers tomorrow.
About Pesa
Pesa is a global financial platform that helps people and businesses move, manage, and use money across borders. Headquartered in Mississauga, Ontario, the company operates across Canada, the United States, the United Kingdom, Australia, Nigeria, and select European markets, enabling customers to send money to more than 40 countries worldwide. Pesa operates through regulated entities and holds relevant licenses and registrations in key markets, including Canada, the United States, the United Kingdom, and Australia.
Pesa's membership in Payments Canada positions the company to engage more directly with the infrastructure that supports Canadian payments. As the Real-Time Rail approaches its scheduled launch in late 2026, broader eligibility for regulated payment service providers could support innovation, competition, and improved cross-border payment experiences. The announcement underscores Pesa's commitment to building robust infrastructure and delivering secure, reliable services to customers around the world.