Financial Services

Accelerating growth for remittance and financial providers

Make sending and receiving money easier with real-time payments. Payins and payouts directly from Canadian bank accounts—no cards, no cash pickups, just a frictionless digital experience.

Why Paramount for Financial Services?

Unbeatable speed and uptime

Sub-20ms latency and elite uptime built to handle traffic surges on holidays like Lunar New Year.

Bank redundancy and scalability

Smart routing across Canada's top banks maximizes throughput, acceptance rates, and overall conversion.

Two ways to pay in real-time

Offer both Interac e-Transfer and Request Money in one streamlined solution to improve conversion.

Your Canadian
partner

20+ years in Canada: your boots on the ground supporting local payment rails.

The benefits are indisputable

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4M
Canadians in our 
network will get access 
to faster payments
2.4B
Dollars 
processed annually 
for Canadians
328%
YOY growth 
of pay by bank payment volume
100%
Bank coverage across Canadian banks

Hear what our customers have to say

"As we expanded into Canada, Paramount Commerce provided invaluable expertise on the local payment landscape. Their team went above and beyond to educate us on the market's do's and don'ts, making us feel safe, confident, and fully supported in our growth strategy.”

Anton Wahlberg

CFO, Transfer Galaxy

“Our partnership with Paramount Commerce allows us to offer a best-in-class solution for money transfer operators and their customers. By utilizing Paramount Commerce’s instant payout capabilities, we are setting a new standard for cost efficiency, speed, and transparency in international money transfers to Canada.”

Ani Sane

Co-founder & Chief Business Officer, Terrapay

The Preferred Choice for Canadians

Overcome the barriers of distance with a payment partner that provides the local expertise, full bank coverage, and trusted pay-by-bank solutions necessary to win in Canada. Secure seamless, real-time transfers that build customer trust.

Real-Time Rail Ready

Paramount is proud to be among the first Payment Service Providers (PSPs) to join Payments Canada. We’ve built the infrastructure, so your financial service or remittance platform can leverage the Real-Time Rail (RTR) from day one.

Phase 1: Instant payouts

Deliver immediate, 24/7/365 fund transfers to your Canadian customers with no delays.

Phase 2: Instant payments

Keep momentum high with request-to-pay capabilities coming as a fast-follow.

Partner with a PSP that’s connected to Canada’s next-generation payment network.

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Frequently asked questions

Do remittance providers need a license to work with Paramount Commerce?

Yes. Documentation regarding registration with FINTRAC as either a Money Service Business (MSB) or a Foreign Money Service Business (FMSB) is required.

Is Paramount Commerce compliant with Canadian payment processing regulations?

Yes. With over 20 years of processing payments in the Canadian market, we adhere strictly to FINTRAC, the Bank of Canada, and compliance regulations.

Can I accept payments from customers across Canada?

Yes, Paramount Commerce provides 100% coverage across all Canadian financial institutions, allowing you to seamlessly accept payments from customers from coast to coast.

What is the settlement cycle for collected funds?

We work directly with merchants to provide settlement timing tailored to your unique business needs.

Do I need a Canadian bank account?

No. While a Canadian bank account is the fastest and cheapest way to receive your funds, international bank settlements are supported (though foreign exchange fees may apply).

How does Paramount Commerce reduce chargebacks?

With Paramount’s Interac product, consumers accept the payment through their bank’s app or online banking. Funds are debited from the consumer’s bank account in real time, drastically reducing chargebacks.

What is the cost structure for processing bank transfers?

We offer a competitive, simple fee-per-transaction model. Contact our team for price inquiries.

Can I see transaction data in real-time?

Yes. We provide real-time visibility into transaction statuses, including approvals and conversions.

Can I integrate your reporting with my internal systems?

Yes. You can export data from our merchant portal or use our reporting APIs to sync data directly with your internal ERP or accounting software.

Is there any manual reconciliation needed to accept Interac e-Transfer?

Not at all. Paramount Commerce features a fully automated, real-time reconciliation engine. The moment a customer initiates and completes an Interac e-Transfer from their bank, our system processes and matches the transaction based on the reference code in the message field. This eliminates manual tracking, reduces human error, and ensures your books stay balanced.

Move money faster with Paramount

See how global financial platforms leverage our pay by bank network to lower processing costs, eliminate chargebacks, and build long-term customer loyalty.

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