Montreal-based fintech Zūm Rails has joined forces with Western Union to deliver instant cross-border money transfers, tapping into Canada’s widely used Interac eTransfer system.
The agreement sees Zūm Rails’ API technology integrated directly into Western Union’s Canadian operations, enabling customers to fund international money transfers in real time using Interac eTransfer. The collaboration supports remittances from Canada to over 200 countries and territories worldwide.
As consumers increasingly demand immediate digital experiences, the pressure is mounting on financial institutions to keep pace. Zūm Rails’ integration solves a key challenge: enabling real-time payments within the existing infrastructure of legacy financial systems.
“Our work with Western Union reflects a larger trend across the payments industry, defined by real-time money movement as a non-negotiable service for consumers and enterprises alike,” said Zūm Rails CEO Miles Schwartz. “Partnerships between traditional financial institutions and fintechs are proving to be a catalyst in accelerating this trend.”
The shift toward real-time payments is supported by growing consumer behaviour. Interac reports that 88% of Canadians have used its eTransfer product, collectively moving $338 billion in the last year alone.
“Consumers should be able to send payments anywhere in the world at the same speed as they can with native peer-to-peer applications,” said Ranjit Sarai, Vice President of Digital and Ecosystem at Western Union Canada. “Our work with Zūm Rails makes this a reality.”
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