What Peoples Payment Solutions Ltd. does

Peoples Payment Solutions Ltd. is the payments and fintech infrastructure arm of Peoples Group, a federally chartered Canadian financial services company headquartered in Vancouver with offices in Toronto and Calgary. The company operates a B2B2X model that provides fintechs, challenger banks, brokers, and merchants with regulated payment rails and program infrastructure under its Schedule I bank (Peoples Bank of Canada) and trust company (Peoples Trust Company) charters. Core products include card issuing with BIN sponsorship, prepaid corporate cards, merchant acquiring, money movement (Interac e-Transfer, EFT, fast funds, and Visa Direct real-time payments), and trust account services, delivered via APIs to enterprise clients and through self-serve channels for consumer banking.

The underlying technology combines purpose-built payment APIs with deep regulatory and compliance infrastructure, including CDIC membership, PIPEDA/FATCA/CRS compliance, and OSFI supervision. Peoples Group was first in Canada to offer the Visa Direct real-time payments API to fintechs and SMEs (launched May 2018 with TELUS Health), and is positioning for Payments Canada's forthcoming Real-Time Rail. Scale metrics between November 2024 and October 2025 include $88B in merchant acquiring volumes (919M+ transactions), $37B in money movement (109M transactions), and $8B in card issuing volumes across 80 direct payments clients.

Revenue mechanics are primarily transaction-fee based on payment volumes, supplemented by net interest income from the broader group's $30 billion in administered lending assets (fourth-largest CMHC lender in Canada) and consumer deposit products (savings accounts, GICs, transaction accounts). Lending operations delivered $7.4B in loan renewals and originations in 2025, with $1.3B in single-family lending and over $2B in annual CMHC-insured construction financing. Pricing for fintech solutions is quote-based, while consumer deposit products are publicly listed (e.g., 1.20% savings, 3.45% on 5-year GICs). The company was founded in 1985, secured Schedule I bank status in 2019, and is led by President and CEO David Raju (permanent since April 2026) with Howard Klein as President of Peoples Payment Solutions.

Name

Peoples Payment Solutions Ltd.

Legal name

Peoples Trust Company

Website

https://peoplesgroup.com

Company type

Private

Founded year

1985

Operating status

Operating

Short description

Peoples Payment Solutions provides regulated payment infrastructure — card issuing with BIN sponsorship, merchant acquiring, real-time money movement, and trust services — to fintechs, challenger banks, and merchants in Canada under Peoples Group's Schedule I bank charter.

Ownership category

akta.pro rank

Product category

Payment Processing and Fintech Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Credit Card Issuing (522210), Sales Financing (52222)

SIC

Finance Services (6199), Finance Lessors (6172)

akta.pro primary industry

Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)

akta.pro secondary industries

Digital Payments & Money Movement (ACH/SEPA/FPS, Bill Pay, P2P) (FSAGAAAF), Marketplace / Platform Acquiring (PayFac & Sub-Merchant Management) (FSAMABAF)

Keywords

• Payment processing infrastructure
• Card issuing services
• Merchant acquiring solutions
• BIN sponsorship programs
• Fintech payment APIs

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Card Issuing: Revenue generated from issuing prepaid and credit cards to fintechs, businesses and consumers. Includes BIN sponsorship fees, card processing fees and program management fees for card programs.
2. Merchant Acquiring: Revenue from processing payment transactions for merchants. Between November 2024 and October 2025, facilitated $88 billion in acquiring volumes representing over 919 million acquiring transactions.
3. Money Movement: Revenue from money transfer and payment rail services including Interac e-Transfers, EFT, and fast funds. Between November 2024 and October 2025, processed $37 billion in money movement across 109 million transactions.
4. Deposit-Taking: Interest income from deposit products including savings accounts, GICs, TFSAs, and RRSPs. Peoples Trust Company and Peoples Bank of Canada accept deposits from individuals and businesses.
5. Lending Operations: Interest income and fees from mortgage lending including CMHC-insured commercial mortgages, conventional real estate lending, single-family mortgages, and personal loans. In 2025, delivered $7.4 billion in loan renewals and originations with $1.3 billion in single-family lending.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

Peoples Payment Solutions delivers payment processing, card issuing, and money movement infrastructure for fintechs, challenger banks, brokers, and merchants. Its modular platform includes BIN sponsorship, prepaid and corporate card issuance, merchant acquiring, real-time money movement via Interac e-Transfer, EFT, and Visa Direct, and trust account services, all delivered under Peoples Trust Company's regulated banking license and accessible through APIs for partner integration.

Product overview

Peoples Payment Solutions Ltd. operates as part of Peoples Group, a Canadian financial services company offering a comprehensive fintech infrastructure platform. The core product is a modular payments ecosystem comprising Card Issuing (BIN sponsorship, prepaid/corporate cards), Merchant Acquiring (payment processing), Money Movement (Interac e-Transfer, EFT, fast funds), and Trust Account Services. These integrate through a unified Payment Solutions platform. Peoples Group also operates commercial lending divisions offering CMHC-insured and conventional commercial mortgages ($30B assets, fourth-largest CMHC lender), single-family mortgage products ($1.3B annual originations), personal lending via the acquired Lendful brand, and retail banking products including savings accounts, transaction accounts, GICs, and residential mortgages. The company serves fintechs, challenger banks, brokers, and merchants with B2B2X partnership models.

Differentiator

Problem solved

Functional benefit

Brands

• Peoples Bank of Canada: Federally chartered Schedule I bank offering digital banking services for Canadian consumers.
• Peoples Trust Company
• Peoples Payment Solutions
• Lendful
• STACK (from partnership)

Products and services

• Card Issuing Comprehensive card issuing platform supporting BIN sponsorship, prepaid corporate cards, and credit card programs for fintechs, challenger banks, and merchants. Between November 2024 and October 2025, facilitated $8 billion in card issuing volumes.
• Merchant Acquiring Payment processing and merchant acquiring services enabling businesses to accept card transactions. Between November 2024 and October 2025, processed $88 billion in acquiring volumes across over 919 million transactions.
• Money Movement Fund transfer services including Interac e-Transfer, EFT, and fast funds capabilities, processing over $37 billion and 109 million transactions between November 2024 and October 2025.
• Trust Account Services Professional trust account services for businesses requiring fiduciary management and segregation of client funds.
• Visa Direct Real-Time Payment API Real-time payment API enabling businesses to send funds to Visa debit cards in Canada, supporting both B2B and B2C use cases for fintechs, SMEs, and enterprise clients.
• Commercial Real Estate Lending Commercial mortgage lending including CMHC-insured term and construction financing and conventional real estate lending, with $7.4 billion in originations in 2025 and approximately $30 billion in assets under administration as the fourth-largest CMHC lender in Canada.
• CMHC Mortgage Lending Canada Mortgage and Housing Corporation insured mortgage products for multi-family and commercial properties, including construction and takeout financing.
• Conventional Commercial Mortgages Conventional commercial mortgage products for properties not requiring government insurance.
• Lendful Personal Loans Digital personal lending platform offering fixed-term loans to creditworthy Canadian borrowers, acquired in June 2018 to expand online borrowing options.
• Savings Accounts Savings account products including regular savings, e-Savings, and tax-free savings options (TFSA), with 1.20% annual interest calculated daily and paid monthly, no monthly fees, and no minimum deposit.
• Transaction Accounts Personal transaction accounts with free bill payments and Interac e-Transfer support.
• GICs (Guaranteed Investment Certificates) Guaranteed investment certificates available as non-registered, RRSP, and TFSA products with guaranteed rates up to 3.45% for 5-year terms.
• Residential Mortgages Residential mortgage products for individual homeowners offered through the broker channel, with $1.3 billion in single-family lending in the past year.
• Business Operating Account Business banking accounts offered to small and mid-sized businesses and brokers for operating needs, with dedicated support.
• STACK Mastercard Prepaid Card Prepaid Mastercard issued by Peoples Trust Company in partnership with STACK fintech, featuring Samsung Pay integration for fee-free spending, saving, and money transfers through the STACK mobile app.

Quantifiable outcome

• $8 billion in card issuing volumes between November 2024 and October 2025
• +5 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Partners for Affordable HousingminorStrategic or Co-development Partner · 20 April 2026Peoples Group is a Community Architect sponsor of Partners for Affordable Housing, a national social-purpose organization focused on accelerating affordable housing solutions, particularly for vulnerable communities. This partnership supports cross-sector collaboration with governments and industry leaders to address housing affordability challenges.
• STACKcoreStrategic or Co-development Partner · 17 October 2018STACK, a Canadian fintech, partnered with Peoples Trust Company to launch a prepaid Mastercard compatible with Samsung Pay. STACK offers fee-free spending, saving, and money transfers through their mobile app, with the card issued by Peoples Trust Company.
• Lendful Financial Inc.coreStrategic or Co-development Partner · 19 June 2018Peoples Trust Company acquired Lendful Financial Inc., adding personal lending to its product portfolio. Lendful offered fully digital borrowing experiences with competitive rates, helping Canadians refinance loans and access credit through an online platform.
• VisacoreTechnology or Integration · 8 May 2018Visa extended its Visa Direct service to Canada, and Peoples Payment Solutions was among the first companies in Canada to leverage the Visa Direct solution for B2B and B2C real-time payment options. This partnership enabled Peoples to offer real-time fund transfer capabilities to Visa debit cards across Canada.
• TELUS HealthcoreStrategic or Co-development Partner · 8 May 2018TELUS Health partnered with Peoples Payment Solutions, powered by Visa Direct, to enable faster health claim reimbursements. The platform allows payments to be deposited directly into clients' Visa debit accounts in real-time, significantly accelerating fund transfers for patients submitting health claims.

Scale indicators11 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Stripe: Global payment infrastructure leader offering merchant acquiring, payment orchestration, card issuing (Stripe Issuing), and money movement APIs to fintechs — comparable scope to Peoples Payment Solutions but at much larger global scale.
• Adyen: Global payment processor providing unified merchant acquiring, card issuing, and money movement infrastructure for platforms and large enterprises — overlapping offering with Peoples Payment Solutions in merchant acquiring and B2B2X distribution.

Others

• Payments Canada: Canadian payments association operator of the forthcoming Real-Time Rail — Peoples is positioning as an ecosystem connector for fintech RTR participation, making Payments Canada a critical infrastructure counterpart and adjacent participant in the same value chain.
• Interac: Canadian debit card network and Interac e-Transfer operator — Peoples integrates with Interac rails for money movement, making Interac a key infrastructure counterpart rather than a direct competitor, but a comparable Canadian payments ecosystem participant.

Direct peers

• Marqeta: US-based card issuing and payment infrastructure platform serving fintechs with BIN sponsorship, API-driven card issuing, and money movement — directly comparable to Peoples Payment Solutions' card issuing and merchant acquiring offerings, with similar B2B2X model.
• Nuvei: Montreal-based global payment processor offering merchant acquiring, card issuing, and payment orchestration APIs — a direct Canadian peer in payment processing infrastructure with overlapping merchant acquiring and fintech partnership capabilities.
• Galileo Financial Technologies: SoFi-owned payment processing platform providing card issuing, BIN sponsorship, money movement, and account infrastructure APIs for fintechs and challenger banks — directly comparable to Peoples Payment Solutions' fintech infrastructure offerings.
• Fairstone Bank: Canadian Schedule I bank specializing in consumer lending, point-of-sale financing, and credit cards — comparable Canadian chartered bank with overlapping consumer lending and card issuing product set.
• Home Trust (Home Equity Bank): Canadian alternative residential mortgage lender and Schedule I bank — comparable Canadian lending franchise to Peoples' single-family and CMHC-insured lending operations, with similar target segments and broker distribution.

Regional players

• Wealthsimple: Canadian digital wealth management and consumer fintech — uses Peoples Trust as a banking infrastructure partner for some products; comparable Canadian fintech ecosystem participant serving similar end-consumer segments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Peoples Payment Solutions Ltd.