As Canada's real-time payments system continues to develop, Payments Canada is consulting on the Real-Time Rail's (RTR) by-law, draft rules, and policy elements. The consultation will be open from May 20 to July 2, 2025.
While the consultation intends to gather input on the RTR's draft by-law and operational requirements, the appendix of the consultation does note that such documents will be made available when published on May 27. Once released, CCUA will update the sector accordingly.
CCUA will be providing a submission on behalf of the sector and is currently reviewing the consultation. We will look to engage the sector and credit union partners to inform our response.
On a related note, Payments Canada is hosting a series of webinars to support public engagement on the RTR. Beginning on May 22nd, the four-part webinar series will cover what the RTR is, access and participation, recourse and compliance, and fraud management.
To register and for more details, see here.
Though the RTR has now been delayed for several years, Payments Canada reports that it will be ready for testing in Q3 of 2025.
Please contact Sabena Sandhu if you have any questions.