U.K. payments giant Wise and Canadian fintechs Float, KOHO, Paramount Commerce and Brim Financial are the first tech companies to join the non-profit that operates the country’s payments infrastructure after Ottawa opened its membership in September.

(The Logic)

Talking point: Payments Canada is broadening its membership to give fintechs access to the Real-Time Rail (RTR) instant payments system, which could launch this year. Fintechs now have a seat at the table alongside the banks, securities dealers and other traditional financial institutions that have historically steered decision-making at the institution, which some argue has contributed to delays in launching new infrastructure like the RTR that could boost competition. Membership in Payments Canada also grants fintechs direct access to other national payments infrastructure, expanding the products they can offer.