In a significant move to advance real-time cross-border payments, Zūm Rails has announced a strategic partnership with Western Union Canada to enable faster, more seamless money transfers between Canada and over 200 countries and territories.
At the core of this collaboration is the integration of Zūm Rails’ API infrastructure into Western Union’s payment ecosystem. This integration will allow Canadian customers to fund international transfers instantly using Interac e-Transfer, a widely adopted domestic real-time payment method. Once funded, the money can be transferred globally with enhanced speed and efficiency.
With consumer expectations shifting toward instantaneous digital payment experiences, real-time settlement has become a non-negotiable feature. However, many financial institutions face technological and compliance hurdles when integrating modern payment rails. This partnership aims to bridge that gap through Zūm Rails’ agile API stack and Western Union’s established remittance network.
“Our collaboration with Western Union reflects a broader industry movement where real-time money movement is now expected by both consumers and businesses,” said Miles Schwartz, CEO of Zūm Rails. “Traditional institutions are increasingly leaning on fintech partnerships to meet these expectations, and Western Union’s scale and innovation make it well-positioned to lead.”
The use of Interac e-Transfer continues to rise sharply in Canada. According to a recent Interac survey, 88% of Canadians have used the service, transferring CAD 338 billion over the past year, and over CAD 625 billion since the start of the pandemic. Nearly half of surveyed users (49%) reported increased usage during this period.
“Consumers should be able to send payments globally with the same speed and simplicity as they do with peer-to-peer apps,” said Ranjit Sarai, Vice President of Digital and Ecosystem at Western Union Canada. “Our work with Zūm Rails brings us closer to that vision and is only the beginning of the new digital financial experiences we plan to roll out.”
The integration of Interac e-Transfer within Western Union’s global infrastructure marks a key step forward in modernizing cross-border remittances. With speed, security, and user experience at the forefront, both companies aim to redefine expectations in the evolving landscape of digital payments.
