Real-time payments
Always-on payments built for speed, transparency and control.
Introducing the Real-Time Rail
Operated by Payments Canada and expected to launch through several milestones across 2026 and 2027, the Real-Time Rail (RTR) is Canada’s new always-on payment system. It will build on existing Interac e-Transfer® infrastructure, enabling your customers to instantly send and receive money anytime, 24/7/365 — with clearer reference details attached. This gives them:
Instant access
Money can be sent and received in seconds, not hours or days.
Anytime availability
Payments can be finalized during evenings, weekends and holidays.
Immediate confirmation
Peace of mind that a payment was completed successfully, with no waiting or follow-up.
Greater transparency
Richer details like invoice numbers streamline tracking, reconciliation and audit trails.
Cash flow control
Faster access to funds improves financial planning and day-to-day budgeting.
Why the RTR matters to financial institutions
It raises expectations: Customers increasingly expect immediacy across digital services. The RTR will quickly become the new standard for fast, data-rich transactions.
It levels the playing field: The RTR opens the door for smaller FIs and fintechs to deliver the speed, convenience and reliability traditionally associated with large banks.
It unlocks new services: Capabilities like just-in-time payroll, instant insurance payouts, real-time bill payments and automated cash flow optimization will become more accessible.
It complements existing systems: The RTR does not replace traditional payment systems. It adds a new option for use cases that require immediate settlement, richer data and continuous availability.
Real-time payments use cases
Real-time payments capabilities support significant new use cases that enhance customer experience and enable business growth.
RTR explained
Learn what the RTR means for your customers and how we can help your organization prepare.
ISO 20022 explained
Understand what ISO 20022 is and why it is becoming the foundation of modern payment systems.
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You have access to lots of resources (playbook) to support your RTR journey.
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