Remitly Business Introduces Bulk Payments and Send by Link, Reaches General Availability in Canada

Remitly (NASDAQ: RELY) expanded its Remitly Business platform with Bulk Payments and Send by Link for US SMBs and reached general availability in Canada.

Rhea-AI Summary

Remitly (NASDAQ: RELY) expanded its Remitly Business platform with Bulk Payments and Send by Link for US SMBs and reached general availability in Canada.

Remitly Business now serves over 20,000 businesses, with send volume up 30% QoQ in Q1 2026, across the US, UK, and Canada.

Positive

• Remitly Business send volume grew over 30% quarter-over-quarter in Q1 2026
• More than 20,000 businesses are using Remitly Business
• Remitly Business now generally available to Canadian small and medium businesses
• Send by Link simplifies data collection and may reduce failed payment errors
• Bulk Payments enables multiple international recipients to be paid in one workflow
• Registration under Canada’s RPAA confirms status as a regulated payment service provider

Negative

• None.

Argus May 12 session

-1.73% close to close Open Argus

Details

News Market Reaction – RELY

In the May 12 session, RELY declined 1.73%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights continued build-out of Remitly Business through Bulk Payments, Send by ...

Analysis

This announcement highlights continued build-out of Remitly Business through Bulk Payments, Send by Link, and general availability in Canada, adding to existing US and UK coverage. It leverages infrastructure serving 9.6 million quarterly active customers and has already attracted more than 20,000 businesses with send volume up over 30% quarter-over-quarter. In context of recent strong Q1 2026 financials and prior product launches, investors may watch adoption trends, transaction growth, and regulatory progress in Canada.

Key Figures

Cross-border B2B opportunity: $20 trillion Quarterly active customers: 9.6 million Send volume growth: more than 30% QoQ +4 more

Cross-border B2B opportunity

$20 trillion

Global cross-border B2B payments market size mentioned in release

Quarterly active customers

9.6 million

Quarterly active Remitly customers whose infrastructure is leveraged

Send volume growth

more than 30% QoQ

Remitly Business send volume growth in Q1 2026

Business customers

more than 20,000

Number of businesses using Remitly Business since launch

Live business markets

3

US, UK, and Canada where Remitly Business is available

Launch timing US

Q2 2025

Quarter when Remitly Business launched in the US

Canadian office opening

2024

Year Remitly opened an office in the Vancouver area

Historical Context

5 past events · Latest: May 07

5 events

1. May 07

   Index inclusion

   24h Move

   +5.4%

   Addition to S&P SmallCap 600 alongside another company.

2. May 06

   Earnings, guidance raise

   24h Move

   -4.0%

   Record Q1 2026 results and raised full-year 2026 outlook.

3. Apr 23

   Product expansion

   24h Move

   -2.3%

   Expanded WhatsApp Send and launched Request Money for Elektra customers.

4. Apr 22

   Earnings date set

   24h Move

   -2.3%

   Announced date and webcast details for Q1 2026 earnings call.

5. Apr 16

   New distribution channel

   24h Move

   +4.1%

   Launched Remitly app in ChatGPT for rate checks and options.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

cross-border b2b payments, interac e-transfers, retail payment activities act (rpaa), open banking, +1 more

5 terms

cross-border b2b payments financial

"Cross-border B2B payments are a massive and underserved $20 trillion global opportunity."

Cross-border B2B payments are money transfers between businesses located in different countries, involving different currencies, banks and rules. Think of it as sending a large invoice through several postal systems that each add costs, delays or paperwork; those frictions affect how quickly suppliers get paid, how much a company pays in fees or foreign exchange losses, and how reliably international sales turn into usable cash — all of which matter to investors assessing profitability, growth and operational risk.

interac e-transfers financial

"adding support for Interac e-Transfers, major Canadian bank accounts, and debit and credit cards."

Interac e-Transfers are a fast, bank-connected way to send and receive money electronically using an email address or phone number, similar to sending a text message that moves funds from one account to another. For investors, their importance lies in reducing friction and cost in everyday payments, supporting consumer and small-business activity, and indicating how smoothly money moves in a market—factors that can affect transaction volumes, revenue for payment providers, and broader digital banking adoption.

retail payment activities act (rpaa) regulatory

"received registration approval under Canada's Retail Payment Activities Act (RPAA), making the company a regulated payment service provider"

A retail payment activities act is a law or regulatory framework that sets rules for businesses that move money for consumers or small businesses—like apps, payment processors, and card networks. It typically covers licensing, consumer protections, operational controls and capital requirements, so investors should watch it because it can change how costly or risky a payments business is to run, who can compete, and how quickly new services can reach customers.

open banking technical

"an advocate of advancing Canada’s payments infrastructure with access to open banking and real time payment rails."

Open banking is a system that lets customers securely share their bank account and payment information with trusted third-party apps and services, like allowing a finance app to view transactions or initiate payments on their behalf. For investors, it matters because it can reshape how financial services compete and make money—enabling new business models, faster customer acquisition, and fee or margin pressure for traditional banks, as well as creating regulatory and execution risks.

real time payment rails technical

"an advocate of advancing Canada’s payments infrastructure with access to open banking and real time payment rails."

Real-time payment rails are the infrastructure and networks that move money instantly between bank accounts, like the plumbing that delivers water the moment you turn a tap. They matter to investors because instant settlements change how consumers and businesses pay and borrow, speed cash flow, reduce payment risk, and create new revenue or cost pressures for banks, fintechs and retailers — all of which can affect profits and company value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEATTLE, May 12, 2026 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY) today announced two new features for small and medium sized business customers in the US: Bulk Payments and Send by Link. At the same time, Remitly Business has reached general availability in Canada, joining the US and UK as the offering’s third live market.

Cross-border B2B payments are a massive and underserved $20 trillion global opportunity. Manual payment runs, traditional wire flows, and high error rates can make routine international payments costly, slow, and prone to failure. Remitly Business extends the same compliance, risk, and disbursement infrastructure that 9.6 million quarterly active Remitly customers already rely on to small medium-sized businesses with cross-border financial needs. Remitly Business is built for how small businesses actually work – transparently priced, and designed for an owner-operator running the books, not a corporate treasury team. Since launch, the platform has gained strong traction: send volume grew more than 30% quarter-over-quarter in Q1 2026, with more than 20,000 businesses using the product.

Building on this traction, Remitly is introducing two new features to better serve Remitly Business customers, starting in the US: Bulk Payments and Send by Link.

Bulk Payments Handle Multiple Recipients Faster
With Bulk Payments, Remitly Business customers will be able to pay multiple international recipients in a single workflow. Customers select recipients from a list, see delivery speed, fees, and totals for every payment in one view, and approve. The feature is built for how small businesses pay overseas suppliers, contractors, and remote teams: in regular batches, on tight cadences, executed by business owner-operators rather than a dedicated finance team.

Send by Link Reduces Payment Errors
Incorrect recipient details — a misspelled name, a mismatched government ID, an outdated bank account number — are one of the leading causes of failed cross-border transfers. Today, collecting those details typically means asking vendors and contractors to share sensitive banking information by email or other less secure channels.With Send by Link, the sender initiates a payment using only the recipient's email and phone number. The recipient can provide the rest through a secure link, in their own time, so the sender never has to collect or see sensitive personal information.

"A small business owner shouldn't lose half a day to a single overseas pay run — or deal with transfer delays because of a typo in a recipient's name," said Pankaj Sharma, Chief Business Officer of Remitly. "We’re moving fast to solve the pain points our customers care about most."

Now Generally Available in Canada
Following the successful US launch of Remitly Business in Q2 2025, the offering expanded to the UK and Canada, and is now generally available to Canadian SMBs. The expansion builds on more than a decade of Remitly serving Canadian customers. In 2024, Remitly opened an office in the Vancouver area and joined Fintechs Canada to help shape policy on behalf of Canadian customers, alongside community partnerships with organizations including Web Summit Vancouver, BC Tech, Latincouver, S.U.C.C.E.S.S., the Indo Pacific Foundation, Filipino BC, and Inter Toronto. The company has continued to expand its Canadian payment network, adding support for Interac e-Transfers, major Canadian bank accounts, and debit and credit cards. Most recently, Remitly received registration approval under Canada's Retail Payment Activities Act (RPAA), making the company a regulated payment service provider in Canada and an advocate of advancing Canada’s payments infrastructure with access to open banking and real time payment rails.

"Canadians have trusted Remitly to move money across borders for more than a decade," said Jung Lee, General Manager of Canada at Remitly. "Bringing that same speed and reliability to Canadian business owners was overdue — and the demand we're already seeing makes that clear."

Availability
Remitly Business is currently available to customers in the US, UK, and Canada. Send by Link is generally available to US customers. Bulk Payments is rolling out now to select US customers, with general availability to follow.

About Remitly

Remitly is a trusted provider of digital financial services that transcend borders. With a global footprint spanning more than 175 countries, Remitly's digitally native, cross-border payments app delights customers with a fast, reliable, and transparent money movement experience. Building on its strong foundation, Remitly is expanding its suite of products to further its vision and transform lives around the world.

Contacts

Media Inquiries
press@remitly.com

Investor Relations
ir@remitly.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What new Remitly Business features were launched for US customers in May 2026 (RELY)?

Remitly introduced Bulk Payments and Send by Link for US Remitly Business users. According to Remitly, Bulk Payments lets businesses pay multiple international recipients at once, while Send by Link allows recipients to securely enter their own payout details.

What does general availability of Remitly Business in Canada mean for RELY shareholders?

Remitly Business is now fully available to Canadian small and medium businesses. According to Remitly, this follows prior launches in the US and UK and leverages its Canadian payment network, including Interac e-Transfers and major bank, debit, and credit card support.

How many customers use Remitly Business and how fast is volume growing?

More than 20,000 businesses are using Remitly Business. According to Remitly, send volume grew over 30% quarter-over-quarter in Q1 2026, indicating increasing adoption of its cross-border B2B payments platform among small and medium enterprises.

How does Remitly’s Send by Link feature help reduce cross-border payment errors?

Send by Link lets senders start a payment with only an email and phone number. According to Remitly, recipients then securely provide required account details, helping avoid failures from typos, outdated bank data, or mismatched identification information in traditional transfers.

What is Remitly’s regulatory status under Canada’s Retail Payment Activities Act?

Remitly received registration approval under Canada’s Retail Payment Activities Act. According to Remitly, this makes the company a regulated payment service provider in Canada and supports its advocacy for open banking access and real-time payment rails for customers.

In which markets is Remitly Business currently available and what is RELY targeting?

Remitly Business is available in the US, UK, and Canada. According to Remitly, it targets the cross-border B2B payments space, described as a $20 trillion global opportunity, focusing on small and medium businesses with international payment needs.