Real-time payment transformation in Canada is a present reality - yet why are fewer businesses adopting this innovation?
Paybilt Leads the Way in Modernizing Payment Systems in Canada
Canada is poised to revolutionize its payment infrastructure, with the upcoming launch of Canada's Real-Time Rail and the phased Open Banking rollout focusing on building new systems. However, the real challenge lies in finding better ways to utilize the highly capable payment rails already in place.
Enter Paybilt, a company that has been quietly but significantly helping Canadian enterprises optimize payments using the existing infrastructure. The firm, which has gained a reputation as one of the best-kept secrets in the industry, is the only one with significant traction in modernizing payment flows at scale in the Canadian market.
Paybilt's intention is to create payment experiences that are elegant, immediate, and forgettable for end-users. The company focuses on the application layer, creating tools that allow Canadian businesses to offer real-time disbursements, payroll, and checkout experiences using systems already in place. This approach ensures that the future payment technologies will adapt to the needs and desires of sellers and buyers, not requiring consumers or merchants to adapt to new systems.
Canada's real-time payment potential already exists, with the widely adopted Interac e-Transfer serving as evidence. Despite the country often being perceived as trailing global peers in real-time payments, the existing infrastructure has proven to be robust and capable. The challenge is not building new infrastructure, but finding better ways to utilize it.
Paybilt has played a crucial role in this optimization process. Many Canadian enterprises rely on Paybilt's capabilities for optimizing payments without their customers realizing it. The firm's platform is a critical component of the payment stack for numerous large Canadian enterprises, shaping how some Canadian enterprises move money.
Vlad Cazan, the chief technology officer at Paybilt, spoke on this topic at the Open Finance Stage of the Open Banking Expo Canada in Toronto on June 17, 2025. His work in real-time payments has significantly shaped how some Canadian enterprises move money, and at the expo, he discussed how real-time payments and Open Banking have transformed payment systems in countries such as the UK and Brazil, implying his role involves promoting similar innovations in Canada through Paybilt.
More information about the agenda of the Open Banking Expo Canada can be found on their official website. For those interested in learning more about Paybilt and its role in modernizing payment systems in Canada, further resources are available online.
- Paybilt, a major player in the Canadian industry, is focusing on optimizing payments using existing infrastructure, aiming to create seamless, instant, and unnoticed payment experiences for end-users.
- The real-time payment potential in Canada has been demonstrated by the widespread adoption of Interac e-Transfer, defying the common perception that the country lags behind global peers in this area.
- Vlad Cazan, the CTO at Paybilt, shared insights on the transformation of payment systems in countries like the UK and Brazil through real-time payments and Open Banking at the Open Finance Stage of the Open Banking Expo Canada in Toronto.
- Paybilt's platform is a critical element of the payment stack for numerous large Canadian enterprises, influencing how some Canadian businesses manage money.
- The upcoming Open Banking Expo Canada will provide more information about their agenda on their official website.
- For those who want to learn more about Paybilt and its role in modernizing payment systems in Canada, additional resources are available online.
