KOHO Brings Instant Payments to Millions With Real-Time Rail Adoption

As one of the initial financial companies to launch on Canada’s new real-time payment infrastructure, KOHO is modernizing the way Canadians move, manage, and access their money.

TORONTO--(BUSINESS WIRE)--KOHO, Canada's leading financial technology company, today announced its adoption of the newly launched Real-Time Rail (RTR), Canada’s national system for instant payments.

As one of the initial system participants to launch on RTR, KOHO reinforces its ongoing commitment to delivering modern financial services within Canada’s evolving payments ecosystem.

Owned and operated by Payments Canada, Canada’s RTR is the foundational payment infrastructure that enables participants to deliver modern payment capabilities to their customers. It is built to enable how Canadian businesses and consumers pay and get paid every day. Key capabilities include settling payments in seconds, giving account holders a live view of cash flow, and carrying richer payment data that complies with the ISO 20022 standard. All of these features will be integrated directly into the KOHO app and are available today with the initial participants in the RTR system.

“The Real-Time Rail is one of the most meaningful upgrades to Canada’s payment system in years,” says Daniel Eberhard, CEO and Founder of KOHO. “When money moves instantly and around the clock, it means covering a bill faster, and businesses have an easier time managing their cash flow. For too long, moving money in Canada has been slower and more expensive than it should be. KOHO is proud to help build something that works better for everyone, and to give people more choice in how they manage their money.”

With real-time settlement infrastructure, KOHO is at the forefront of Canada’s financial modernization movement. The inclusion of RTR capabilities allows KOHO’s platform to support instant, 24/7/365 account-to-account transactions and dramatically cuts down wait times that are traditionally associated with legacy systems. As the network matures, additional institutions including traditional banks, credit unions, and payment service providers are expected to adopt the RTR, progressively expanding real-time connectivity across the Canadian financial landscape.

“Canadians expect their financial institutions to keep pace with how they live, work, and get paid,” says David Merriby, CEO of the future KOHO Bank. “From the start, the future KOHO Bank has invested early in the infrastructure that will shape financial services. By joining Real-Time Rail, the future of banking will be faster, clearer, and more useful for the millions of everyday Canadians who use KOHO to deliver services they can rely on.”

“The launch of the Real-Time Rail marks the beginning of a new era for Canadian payments,” says Donna Kinoshita, Chief Payments Officer at Payments Canada. “This launch sets our start line, creating a scalable, sovereign platform that will continuously evolve to meet the needs of Canadian consumers and businesses. Thank you to KOHO for standing with us as pioneers in building a faster, more innovative and competitive financial ecosystem for Canada.”

KOHO has built a suite of financial tools designed to help Canadians manage their money with confidence and transparency. Over the past year, KOHO expanded its offerings to include high-interest savings, cash back, credit-building features, and joint accounts, showing its commitment to supporting Canadians nationwide. By joining the Real-Time Rail, KOHO is making payments easier for over 2.9 million Canadian customers from coast to coast by giving them faster access to their funds and greater clarity over their finances.

For more information, visit Payments Canada.

About KOHO
Since 2014, KOHO has been building the financial tools that Canadians need to make money feel more manageable.

As one of the country’s leading financial technology companies, KOHO offers an innovative app featuring a spending and savings account built on clarity—no hidden fees and no confusing fine print. Tools like Credit Building, Cover overdraft protection, and RoundUps are designed for real life, helping people manage their day-to-day finances while working towards long-term goals. Now an official Payments Service Provider member of Payments Canada, KOHO is empowering millions of Canadians to get ahead and not just get by.

To learn more about KOHO, visit koho.ca.