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The 2026 Payments Canada SUMMIT brought forward important conversations around the country’s payment infrastructure entering a pivotal phase. From the Real-Time Rail (RTR), open banking, to stablecoins, the discussions made it clear that Canada’s modern payment systems are shifting from vision to implementation.
For fintechs, payment service providers (PSPs), financial institutions, and merchants, this is no longer a watching brief; it’s an execution mandate within Canada’s evolving payment modernization roadmap.
An important fireside chat at The SUMMIT around Canada’s payment modernization agenda happened between two leaders, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, and Payments Canada’s President and CEO, Susan E. Hawkins.
In the “Canada Strong for All” session, the minister tied the Canadian government’s 2026 Spring Economic Update directly to payment modernization in Canada. The conversation highlighted how recent regulatory and legislative updates, such as the Canadian Payments Act, are helping to create a more open and competitive payment landscape to improve choice and encourage innovation across the Canadian payment industry.
Another important part of the conversation was around the importance of a collaborative “Team Canada” approach across banks, fintechs, and policymakers. And lastly, the session also highlighted the progress of the Real-Time Rail (RTR), which is expected to bring faster, always-on payments and richer transaction data to support both businesses and consumers across the country.
While the fireside chat focused on national payment systems and policy, Sereena Boparai, CRO at Paramount Commerce, joined a panel discussion on how stablecoins are moving from experimentation to real-world payment use cases within Canada’s broader payment modernization journey. Sereena provided insights into how stablecoins are gaining attention in areas such as cross-border payments, where speed and availability offer a clear advantage over traditional rails.
But there are still gaps to address in the conversation around stablecoins, particularly around the lack of a widely adopted Canadian-backed stablecoin. Overall, the conversation reinforced that stablecoins are becoming a credible complementary payment option alongside the existing systems.
As Canada’s Real-Time Rail moves closer to launch, PSPs are asking a critical question: how should we connect, and why? During a panel session on participant onboarding and unlocking access for RTR participants, Kristi Lewis, VP of Marketing and Industry Relations at Paramount Commerce, shared that RTR adoption is not a simple integration decision but a set of interconnected strategic choices.
Kristi and fellow panelists highlighted that readiness requires alignment across technology, organization and operations. PSPs must be prepared for 24/7/365 real-time infrastructure, including liquidity management, fraud and risk controls and the operational demands of an always-on national payment system. Finally, the choice between direct participation and indirect access through a partner comes with clear trade-offs between control, speed to market and complexity.
In a “team Canada” environment where Canada’s payment infrastructure foundation is being modernized in concert across participants, PSPs that move early with a clear strategy stand to build stronger value propositions for merchants and consumers. In short, while there are many operational and strategic considerations, real-time will ultimately mean real possibilities.
If your business is looking to enable real-time payments, get in touch with our team to learn more: https://www.paramountcommerce.com/book-a-demo
Fintech trends and insights,
explained in 5 minutes or less
Fintech trends and insights,
explained in 5 minutes or less
