UK-based financial services firm Ebury has expanded its partnership with account-to-account payments technology provider Form3 to offer instant payments in Canada through the country's new Real-Time Rail (RTR). Under the agreement, Form3 will connect Ebury to the RTR, allowing it to provide instant payments and cross-border transaction capabilities to its corporate clients in Canada. Founded in 2009, Ebury provides payments, foreign exchange, and currency risk management services to businesses.
Canada's phased Real-Time Rail rollout
Canada's RTR is a new real-time payment system covering exchange, clearing, and settlement, operated by Payments Canada and introduced in phases. The initial launch of the rail is taking place in the fourth quarter of 2026, with additional participants able to join in stages throughout 2027. Ebury plans to use Form3's platform to join the RTR during these successive stages in 2027.
Mike Walters, CEO and Co-founder of Form3, said the RTR marks Canada's move into instant payments and that the rail has been modelled on the UK and US systems, giving it what he described as a late-mover advantage. He added that, as a result, banks and fintechs in Canada are looking for partners with experience in those markets to help them deliver instant payments, and that Form3 can bring that experience to the Canadian rollout.
Extending an existing relationship
Form3 already connects Ebury to the UK's Faster Payments Service and to Europe's SEPA schemes. Ebury went live with Form3 on UK Faster Payments in 2018. In June 2026, Ebury also became a member of Payments Canada, giving it direct access to Canada's core payment systems, including the Automated Clearing Settlement System (ACSS), the Lynx high-value payment system, and the RTR once operational.
Mike Malak, Country Manager at Ebury Canada, said the company's experience with Form3 in the UK and Europe made it a natural partner for instant payments in Canada, and that its platform allows Ebury to add a new payment rail while meeting regulatory requirements. Form3 processes around five billion transactions a year for more than 40 customers, including J.P. Morgan, Barclays, Santander, and Klarna.
