First phase of Payments Canada’s real-time rail system includes fintechs like Wealthsimple and Questrade

First phase of Payments Canada’s real-time rail system includes fintechs such as Wealthsimple and Questrade

It’s a rare Canadian investment for the pension giant’s growth equity unit, which has also backed Cohere and Wealthsimple

Source: Wealthsimple

First phase of Payments Canada’s real-time rail system includes fintechs like Wealthsimple and Questrade

First phase of Payments Canada’s real-time rail system includes fintechs such as Wealthsimple and Questrade

Many of Canada’s largest banks have blocked or restricted access to third-party agents, citing data security concerns

Wealthsimple is among the first financial institutions live on Canada’s Real-Time Rail, Payments Canada’s new national system for clearing and settling payments in seconds, 24 hours a day, including weekends and holidays. The rail launched today with an initial wave of participants. Wealthsimple says it has the largest Canadian market share among those joining at launch. Clients will not get new cross-institution instant payment features right away. The company says it is testing the system now and plans to roll those features out in 2027. Wealthsimple Pay, announced earlier this month at…

Under development since 2015, Wealthsimple, Koho, Bank of America, and others can now access instant payments.

Wealthsimple joins the initial launch of Canada's new real-time payments system, which will clear and settle payments in seconds, 24/7.The new infrastructure will make payments faster and easier for Canadians and businesses, driving financial innovation and economic growth.Toronto, Ontario--(Newsfile Corp. - November 9, 2026) - Wealthsimple, Canada's leading financial innovator, today announced it's one of the first financial institutions to join Canada's Real-Time Rail (RTR), a new national...

It’s a rare Canadian investment for the pension giant’s growth equity unit, which has also backed Cohere and Wealthsimple

Wealthsimple, günlük bankacılık ve borsa işlemlerinde emir hazırlığı yapabilen yapay zekâ asistanı Penny'yi duyurdu. Sistem kullanıcının nihai onayı olmadan hiçbir para transferi veya yatırım işlemini kendi başına gerçekleştiremiyor.

Canadians have paid $73 million CAD in fees this year alone to move their savings to Wealthsimple, according to Michael Katchen, head of Wealthsimple, who said that the federal government has moved to ban exit fees at federally regulated banks. Katchen said the move is a step toward fulfilling a promise in Budget 2025 to ban fees for transferring investment and registered accounts. He thanked Finance Minister François-Philippe Champagne for the federal government's action, calling the move an important first step. The federal budget previously said Canadians pay an average of $150 CAD per account to move their investments.

Wealthsimple is launching an AI assistant that can partially automate everyday banking activities and provide users with financial insights.

The Toronto FinTech firm reveals a dozen new banking, investing, and AI products and features.

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First phase of Payments Canada’s real-time rail system includes fintechs such as Wealthsimple and Questrade