Canadian Faster Payments: Lessons Learned From the Real-Time Rail

The Real-Time Rail (RTR)—Canada’s first national real-time payment system—is launching in 2024. The RTR will support faster (24/7/365) data-rich payments, acting as a platform for payment innovation and competition. It will allow Canadians to initiate and receive payments within seconds, any time of the day or night, 365 days per year. RTR payments will be irrevocable, meaning they are final and cannot be undone. The RTR is one of the largest payment transformation projects in Canadian history. The speaker will discuss how the project started and how this real-time clearing and settlement system will completely change the way Canadian consumers and businesses send and receive money.