Payments Canada reports Real-Time Rail is more than halfway through technical build and begins centralized fraud solution build

Payments Canada published its 2025 Q1 quarterly update on the Real-Time Rail (RTR), reporting that the program is now more than halfway through the technical build and is moving toward the next delivery phase of testing. The update also sets out progress on developing an integrated, centralized fraud mitigation capability for RTR. The technical build covers installation of data-centre hardware and development of the software for real-time clearing and settlement. Work over the first quarter of 2025 focuses on continuing the build while preparing for testing by finalizing a test strategy, selecting tools, determining approaches, identifying test participants and increasing direct engagement with members ahead of industry testing. On fraud, Payments Canada reports that it has reached consensus with members and participants on a fraud strategy and high-level requirements, has started the foundational build for a centralized fraud solution, and is sharing technical and operational requirements with member participants as they design risk management processes to integrate with the new capabilities. Separately, the update notes that the Bank of Canada completed registration of payment service providers under the Retail Payment Activities Act in November 2024, ahead of amendments to the Canadian Payments Act that will expand Payments Canada membership eligibility to PSPs, credit union locals and certain clearing houses once the amendments take effect. It also reiterates that participation requirements will differ across the Automated Clearing Settlement System, Lynx and the RTR.