Payments Canada has published The Real-Time Rail Participation Guide for Payment Service Providers to prepare payment service providers (PSPs) for membership and participation in the Real-Time Rail (RTR) system as PSP eligibility is enabled through amendments to the Canadian Payments Act and the introduction of the Retail Payments Activities Act. The guide sets out the process for becoming a Payments Canada member and RTR participant, including the technical, operational and business requirements. RTR is positioned as an always-on, real-time clearing and settlement system offering 24/7/365 processing and immediate funds delivery; Payments Canada notes that real-time settlement can eliminate credit risk between participants and support real-time cash and liquidity management, and that RTR is designed to support multiple business models with defined onboarding and ongoing system management expectations. PSPs can use the guide to begin the application process for Payments Canada membership and RTR access.
Payments Canada 2025-08-21
Payments Canada issues Real-Time Rail participation guide for payment service providers ahead of new membership eligibility
Payments Canada released The Real-Time Rail Participation Guide for Payment Service Providers, detailing membership and participation in the Real-Time Rail (RTR) system. The guide outlines technical, operational, and business requirements for PSPs, emphasizing RTR's 24/7/365 real-time clearing and settlement capabilities. RTR aims to eliminate credit risk and support real-time cash and liquidity management across various business models.