Toronto Payments Firm Strikes Deal to Expand Into U.S. Market Through Interac, FedNow and Real-Time Transfers

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Waiting for money to arrive can be just as disruptive as waiting for a sale. Toronto-based KORT Payments has agreed to buy AptPay, adding technology that connects businesses to Canadian and U.S. payment networks, including Interac e-Transfer, FedNow and real-time bank transfers.

The proposed acquisition builds on KORT’s existing American business rather than marking its first entry into the country. Its potential appeal is practical: helping companies collect customer payments and distribute funds without stitching together numerous services. But faster domestic payments do not automatically create instant international transfers, and the deal’s ultimate value will depend on how well the combined offering works for businesses.

An Acquisition, Not a New Payment Network

KORT Payments announced on October 19, 2026, that it had signed a definitive agreement to acquire all of AptPay. Financial terms were not disclosed, and closing is expected in the fourth quarter, subject to customary conditions. AptPay would add account-to-account transfers and payouts to KORT’s card-acceptance business. The aim is a broader service for companies collecting revenue and distributing funds, rather than a product focused mainly on the moment a customer makes a purchase.

The agreement does not merge Interac, FedNow and other networks into one system. They remain different underlying routes for transactions. For merchants, the potential benefit is having fewer separate services to connect and manage. A sale at checkout and a subsequent payment to a supplier are different jobs, but a business still needs an accurate view of both. Bringing those functions together could make administration easier, although the announcement does not establish how much customers would save.

KORT’s U.S. Expansion Was Already Underway

This acquisition is not KORT’s first move south of the border. In February 2025, the company acquired the direct-marketing payment-processing business of Paysafe Direct. That transaction brought merchant and reseller relationships, technology and employees into KORT’s U.S. operations. The AptPay agreement therefore builds on an established expansion strategy rather than opening an entirely new market. It also illustrates a distinction between winning more merchants and giving those merchants additional ways to handle money.

KORT sharpened that strategy on October 6, 2026, when it announced the sale of substantially all operating assets of Merrco to PayFacto. Merrco served Canada’s cannabis industry and other specialist markets. KORT said the sale would free resources for online commerce, direct marketing and payments built into software platforms. Taken together, the transactions suggest a more focused business: retaining payment-processing customers while adding services they might otherwise buy elsewhere. It is a shift in the kinds of payment problems KORT wants to solve, not simply a change in where it operates.

One Connection, Several Ways to Move Money

AptPay’s main selling point is a single software connection, known as an application programming interface, or API, that can reach several payment methods. Its published material describes connections to Automated Clearing House (ACH) bank transfers, Interac, the RTP instant-payment network and card-based payouts through Visa Direct and Mastercard Send. Rather than asking a merchant to build a separate link for every route, the platform is designed to bring the work together. In industry language, that coordination is called payment orchestration.

For example, a software business paying contractors in two countries may need different domestic options for each recipient. One payment may call for a bank transfer; another may use an eligible debit card. A shared connection could simplify the instructions and tracking, but each route retains its own processing rules and availability. The business would still need to know which method reaches the recipient and when the funds become usable. The technology’s value lies in managing those choices, not making every payment method identical.

Interac Connects the Canadian Side

Interac gives the transaction a familiar Canadian anchor. The network recorded 1.6 billion e-Transfer transactions in fiscal 2025. Its Business Request Money feature accounted for more than 160 million transactions, rising 81% from the previous year, according to Interac’s corporate review. Those figures show that electronic transfers are not confined to friends splitting restaurant bills. Businesses are increasingly using the service to ask customers for payment through familiar banking relationships.

The business offering supports payments as large as C$25,000, depending on the financial institution, and can carry information that helps match receipts to invoices. That detail matters to a bookkeeper handling several payments of the same amount: knowing which invoice has been settled can save another round of emails. Interac says most business payments arrive within seconds, but product availability and limits vary. Access to the network should not be confused with a promise that every KORT customer receives identical features immediately.

FedNow Adds an Around-the-Clock U.S. Option

FedNow is the Federal Reserve’s instant-payment service, launched in July 2023. It processes and settles individual transfers within seconds, 24 hours a day, including weekends and holidays. For accepted customer payments, participating financial institutions must make the money available immediately after settlement. That makes it different from a message saying a transfer has merely been submitted: the objective is usable money in the receiving account, not just an updated notification.

The service is infrastructure for eligible financial institutions, not a consumer app or an account that KORT customers open at the Federal Reserve. Banks can use technology providers to submit and receive payment instructions on their behalf. For a business with an urgent Saturday payment, that arrangement could remove the need to wait for a traditional processing window. Actual access still depends on participating institutions and the service offered to the customer. Naming FedNow in a product description does not establish universal access to every U.S. bank account.

The Other U.S. Network Is Handling Billions

The Clearing House’s RTP network is separate from FedNow and began operating in 2017. Its published figures report 150 million payments worth US$621 billion during the third quarter of 2026, with more than 1,300 participants as of September. The network’s transaction ceiling is US$10 million. Those numbers underline why a payments company seeking U.S. growth would want more than one route into bank accounts, including an option capable of supporting substantial business payments.

RTP also differs from batch-based bank transfers. Payments settle individually, and the network operates every day, around the clock. ACH remains a separate system: even Same Day ACH processes payments in batches rather than settling them individually in real time. Supporting both methods can provide flexibility, but adding an instant-payment option does not make an ordinary ACH transfer instantaneous. For an accounts-payable team, the useful question is not simply whether a platform supports bank transfers. It is which transfer method fits the payment’s deadline and recipient.

Faster Payouts Matter Beyond the Checkout

A payment processor’s value is often judged by how easily it lets customers buy something. The other side can matter just as much: a contractor waiting for wages, a policyholder expecting an insurance payment or a supplier needing cash for stock. The Clearing House identifies emergency payroll, merchant disbursements and loan funding among RTP’s common uses. These are practical reasons to offer immediate access to money rather than treating speed as a technology showcase.

Canadian businesses appear interested too. Payments Canada reported in August 2026 that three in five businesses surveyed would use real-time payments in specified situations. That indicates interest in the capability, not a forecast of KORT’s future customers or revenue. Consider an illustrative small wholesaler that receives a cleared payment and can immediately release an order, rather than checking again later. The benefit may be fewer interruptions and a clearer cash position. Whether the combined platform delivers that improvement will depend on its pricing, reliability and fit with existing accounting tools.

Cross-Border Reach Is Not Instant Currency Conversion

Serving customers in Canada and the United States does not mean that Interac transfers automatically flow straight into FedNow. The distinction was illustrated on April 8, 2026, when the Federal Reserve proposed allowing additional intermediaries in FedNow transfers. Its proposal described FedNow handling the U.S. domestic portion of a cross-border payment while a correspondent bank facilitated the international portion. Even in that model, more than one stage is involved in moving money between countries.

Consider a Toronto business paying a supplier in U.S. dollars. Currency conversion, fees, compliance checks and the receiving bank’s capabilities can still affect the overall transaction. A domestic transfer completed in seconds is only one part of the customer’s experience. The relevant measure is when the supplier can use the money and how much arrives after costs. KORT’s proposed acquisition could help coordinate those tasks, but the announcement is not evidence of a universal, fee-free or instantly settled Canada–U.S. payment route.

Faster Money Requires Stronger Safeguards

Speed increases the importance of getting payment instructions right. On the RTP network, settlement is final and irrevocable: a sending bank cannot simply cancel a completed transfer. Institutions can request the return of funds, but that is different from reversing the original payment. For a business receiving an unexpected request to change a supplier’s banking details, the practical implication is clear. Verification before sending matters more when money can leave immediately.

AptPay’s offering includes identity checks, anti-money-laundering tools and sanctions screening, according to the acquisition announcement. Such features support compliance; they do not establish that fraud is impossible. Canada has also strengthened oversight: since September 8, 2025, covered payment providers have faced requirements for operational-risk management and safeguarding customer funds they hold. A dependable platform therefore needs more than a fast transfer button. Incident response, secure account access and clear procedures for errors all help determine whether a business can trust it with everyday cash flow.

Canada’s Own Real-Time System Is Approaching Launch

The acquisition comes as Canada prepares another change to its payment infrastructure. Payments Canada is targeting the fourth quarter of 2026 for the Real-Time Rail, or RTR, a national system designed to exchange, clear and settle payments around the clock. In an October 13 explanation, the organization highlighted richer payment information and centralized fraud services as important features. The project is distinct from the Interac e-Transfer service Canadians already use, although it will eventually support that service’s clearing and settlement.

Launch remains subject to successful testing. Payments Canada’s phased schedule places the initial migration of Interac e-Transfer clearing and settlement in the first quarter of 2027. A national launch therefore will not mean identical access everywhere immediately. Existing Interac connectivity should not be mistaken for automatic access to every RTR capability. For payment providers, the opportunity is to turn new infrastructure into useful services. For their customers, the important changes will be those that make payments easier to track, receive and match with business records.

The Real Test Comes After the Deal Closes

AptPay is expected to retain its brand and operate as a KORT division after closing. KORT also says existing customers and partners will continue receiving uninterrupted support. That is a commitment about the transition, not independent evidence that integration will be effortless. For a merchant relying on daily collections and payouts, continuity matters: a wider menu of payment methods has limited value if switching systems creates uncertainty about where money is or who resolves a problem.

The most useful tests will be practical. Can customers see which payment options are available before sending? Are fees and delivery expectations clear? Does the service reduce manual work when receipts are matched against invoices? The answers will determine whether KORT gains a meaningful advantage from the transaction. For Canadian businesses with American customers or suppliers, success would mean less time chasing transfers and more confidence in their cash position. The acquisition opens that possibility; reliable execution will have to deliver it.

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