Neo Financial Becomes Second FinTech to Join Interac Payment System
Calgary-based Neo Financial has officially joined the Interac e-Transfer platform, becoming the second Canadian FinTech to gain direct access to Canada’s primary digital payment network. This development follows Interac’s expansion of eligibility to registered Payment Service Providers (PSPs) in September 2025, a move designed to integrate non-bank financial institutions into the core infrastructure previously reserved for banks and credit unions. By becoming an official participant, Neo Financial secures greater independence from banking intermediaries, allowing it to build new payment features directly on top of Interac’s rails and exercise more control over customer payment options. Wealthsimple was the first FinTech to achieve this status in 2023. The integration requires meeting strict technical, operational, and compliance standards set by Interac and overseen by the Bank of Canada. Neo Financial co-founder Jeff Adamson highlighted this milestone as a significant step toward modernizing Canada’s payment ecosystem, aligning with broader government initiatives like open banking and the upcoming Real-Time Rail. Founded in 2019, Neo serves over one million users and offers various financial products, having raised substantial capital despite recent valuation adjustments.
Wire timeline
Neo Financial Becomes Second FinTech to Join Interac Payment System
Calgary-based Neo Financial has officially joined the Interac e-Transfer platform, becoming the second Canadian FinTech to gain direct access to Canada’s primary digital payment network. This development follows Interac’s expansion of eligibility to registered Payment Service Providers (PSPs) in September 2025, a move designed to integrate non-bank financial institutions into the core infrastructure previously reserved for banks and credit unions. By becoming an official participant, Neo Financial secures greater independence from banking intermediaries, allowing it to build new payment features directly on top of Interac’s rails and exercise more control over customer payment options. Wealthsimple was the first FinTech to achieve this status in 2023. The integration requires meeting strict technical, operational, and compliance standards set by Interac and overseen by the Bank of Canada. Neo Financial co-founder Jeff Adamson highlighted this milestone as a significant step toward modernizing Canada’s payment ecosystem, aligning with broader government initiatives like open banking and the upcoming Real-Time Rail. Founded in 2019, Neo serves over one million users and offers various financial products, having raised substantial capital despite recent valuation adjustments.
BetaKit