Payments Canada outlined an industry discussion on commercializing overlay services for the forthcoming Real-Time Rail, focusing on how consumers and businesses will initiate transactions and interact with real-time payments. The session advances its examination of the rail’s operational and strategic implications by shifting attention from settlement and funding to the user experience and services built above the core infrastructure. Participants from CIBC, Brim Financial and CGI will examine capabilities including QR codes and request-for-payment messages, alongside the related business opportunities and risks. The discussion will draw on rapid growth in account-to-account payments in other regions and consider how Canadian institutions can differentiate through business-focused use cases and revenue-generating real-time payment services.

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