Toronto-based fintech Wealthsimple has made significant strides in integrating into Canada’s payment systems. Achieving firsts, Wealthsimple has secured membership with Payments Canada, established a direct settlement account with the Bank of Canada for the Real-Time Rail, and gained direct access to the Interac e-Transfer network.
According to Hanna Zaidi, Wealthsimple’s VP of Payments Strategy and Chief Compliance Officer, the goal is to become the “primary financial relationship” for customers, offering seamless financial transactions. Zaidi attributes these accomplishments to proactive collaboration with regulators during product development, ensuring compliance and innovation go hand in hand.
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