Payments Canada published its 2025 Q4 quarterly update on the Real-Time Rail (RTR), reporting that end-to-end testing has started following completion of the technical application build in Q3 2025 and that work is now centred on meeting safety and security requirements ahead of launch. System integration testing of technical components is underway and expected to complete by year end, followed by industry-facing testing in 2026 covering user acceptance, performance and resilience, security, and operational readiness. Payments Canada also published the Real-Time Rail Participation Guide for Payment Service Providers, noting that PSPs supervised under the Bank of Canada’s Retail Payments Activities Act are eligible for Payments Canada membership following amendments to the Canadian Payments Act; it also summarized feedback from its public consultation on the RTR legal framework in a report. The RTR rulebook is being finalized, with 14 rules planned for submission to the Bank of Canada before year end, with final approval targeted for the new year.
Payments Canada 2025-10-15
Payments Canada begins Real-Time Rail testing and readies 14 operating rules for Bank of Canada submission
Payments Canada released its 2025 Q4 update on the Real-Time Rail (RTR), highlighting the start of end-to-end testing after completing the technical application build. System integration testing is ongoing, with industry-facing testing planned for 2026. Payments Canada also published the Real-Time Rail Participation Guide for Payment Service Providers, detailing eligibility for membership under the amended Canadian Payments Act.