The Canadian Prepaid Providers Organization (CPPO), a nonprofit advancing the $14 billion open-loop prepaid industry, has appointed three new members to its Board of Directors: Adriana Iglesias Romero, Director of Payments Operations & Compliance at Wealthsimple; David Merriby, Chief Executive Officer at the future KOHO Bank; and Asad Saeed, Vice President & General Manager, Canada at ABCorp.

Open-loop prepaid cards, which carry major network branding such as Visa or Mastercard and can be used anywhere those networks are accepted, have grown into a significant segment of Canada's payments landscape — distinct from closed-loop cards tied to a single retailer or transit system.

Each newly appointed General Board member will serve a one-year term. The appointments broaden representation from Canada's fintech and payments sectors, reinforcing CPPO's capacity to advocate for organizations driving the country's digital payments ecosystem.

Jennifer Tramontana, Executive Director of CPPO, said the new arrivals reflect the full spectrum of industry participants. "Their commitment and experience strengthens our ability to represent the industry's full range of players, from established networks to the challenger banks now built on prepaid rails," she said. "As board members, they'll help guide CPPO's work advocating for a regulatory environment that lets prepaid keep expanding access to the digital economy."

Iglesias Romero oversees payments operations and compliance at Wealthsimple, widely regarded as one of Canada's most innovative fintech platforms. She emphasized prepaid's growing role in broadening financial inclusion.

"Prepaid has become essential infrastructure for expanding financial access in Canada, and I'm thrilled to help guide its next chapter as part of CPPO's Board," said Iglesias Romero. "I'm grateful to bring Wealthsimple's perspective to an organization doing such important advocacy work."

Merriby previously led compliance and risk functions at KOHO before his recent appointment as CEO of the future KOHO Bank, which is focused on helping consumers build stronger financial habits through accessible digital banking tools. KOHO has been pursuing a federal Schedule I bank license in Canada, a path that would allow it to accept deposits directly as a regulated bank while continuing to serve customers who have relied on its prepaid card products.

"Payments play an increasingly important role in how Canadians manage their financial lives, and there is a real opportunity to keep improving how the industry serves them," said Merriby. "I'm pleased to join CPPO's Board of Directors and look forward to working with new and existing board members to bring together different perspectives from across fintech, payments, and financial services."

Saeed leads strategic accounts and growth initiatives for ABCorp's Canadian business unit, where he is responsible for delivering secure, scalable payments infrastructure that supports Canada's evolving payments ecosystem. ABCorp, formerly known as American Banknote Corporation, has a long history in secure transaction printing and physical and digital payment production.

"The Canadian payments landscape is at a critical inflection point, where security, scale, and flexibility must intersect to drive the next wave of financial innovation," said Saeed. "This is a time of deep transformation in payments and ABCorp is committed to anchoring the ecosystem. I am excited to join the CPPO board and collaborate with fellow industry leaders to champion forward-thinking advocacy and change."

Over the past decade, prepaid has transitioned from a niche payment method to a foundational platform for financial innovation in Canada. It provides consumers with lower-cost and more convenient ways to participate in the digital economy and has become the infrastructure of choice for challenger banks developing digital-first products. For Canadians who may not hold traditional bank accounts or who want tighter control over spending, prepaid offers access to electronic payments without the credit checks or minimum balance requirements associated with conventional accounts.

Two of CPPO's newest board members illustrate this trend: both Wealthsimple and KOHO utilize prepaid rails to deliver banking services to customers seeking flexible alternatives for saving and spending.

CPPO represents the organizations building this industry, ranging from regulated banks and card networks to fintechs, processors, program managers, and service providers. Through advocacy, research, and direct engagement with regulators, CPPO works to promote prepaid's responsible growth and ensure the industry participates in the policy decisions that shape its future.