The Real-Time Rail

Canada's fastest payment system

The Real-Time Rail is Canada’s first real-time payment system that supports instant, data-rich payments

Real-time payments will transform Canada’s economy, giving businesses and consumers more transparency and access to their payments any day, any time. The Real-Time Rail will enable this transformation while ensuring transactions are safe and secure.

A smarter way to pay and get paid, instantly

Find out how Canada's Real-Time Rail payment system gives you more control over your finances and allows Canadian business to compete more effectively and efficiently.

Discover how the Real-Time Rail benefits all Canadians

Financial institutions

With a modernized system, financial institutions have access to real-time liquidity management, are able to settle payments faster and provide their clients with new data-rich solutions and services

Payment service providers (PSPs)

Innovation on the Real-Time Rail through competitive services means more choices for Canadian businesses and consumers

Developers

Participants on the Real-Time Rail can connect and develop new ways for Canadians to pay for goods and services, transfer money and compete nationally and internationally

Businesses

Real-time payments are sent and settled securely in seconds, improving financial liquidity and efficiency for Canadian businesses

Consumers

Access to more convenient and flexible real-time payment services means less waiting for funds and more options to pay and get paid in real-time

Government

With more data attached to each payment, services conducted using the Real-Time Rail streamlines financial, corporate and reconciliation processes

MEETING THE NEEDS OF CANADIANS

The development of new payment systems like the Real-Time Rail demonstrate Payments Canada’s commitment to its legislated mandate to establish and operate national systems for the clearing and settlement of payments and facilitate the development of new, safe and secure payment methods and technologies.

Q4 2023 Delivery Roadmap update

As the fourth quarter of 2023 is quickly coming to a close, I’m pleased to share that so far this year, the Automated Clearing Settlement System (ACSS) and Lynx have cleared and settled over 9.1 billi...

Q3 2023 Delivery Roadmap update

A key priority for Payments Canada during the third quarter of 2023 was continued advocacy for changes to the Canadian Payments Act. Payments Canada submitted a response to the House of Commons...

Payments Canada update on Real-Time Rail (RTR)

Payments Canada, its regulators and member financial institutions remain fully committed to delivering a safe, secure and efficient real-time payment system for Canada.

The PayPod - Episode 20: Faster payments are only part of the real-time payments story

When we hear about real-time payments the first thing we think of is speed. But when it comes to the Real-Time-Rail (RTR), faster payments are only part of the story. In this episode, host Cyrielle...

Listen to the episode

ISO 20022 messages for the Real-Time Rail now available

ISO 20022 messages for the Real-Time Rail (RTR), Canada’s new real-time payment system coming in mid-2023, are now available on Payments Canada’s ISO 20022 Resource Centre. These specifications will...

Public Services and Procurement Canada examines the benefits of a real-time rail for the Government of Canada’s payment processes

In this case study, Public Services and Procurement Canada examines the benefits of payment modernization and data-rich payments for the Receiver General for Canada. By adopting the ISO 20022...

The Real-Time Rail

Canada's fastest payment system