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ARTICLE · 27 AUGUST 2025

Payments Canada Publishes RTR Participation Guide For Payment Service Providers

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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On August 21, 2025, Payments Canada published its RTR Participation Guide for Payment Service Providers (Guide), clarifying how payment service providers (PSPs)...

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Jacqueline Shinfield
Jacqueline Shinfield
Vladimir Shatiryan
Vladimir Shatiryan
Tracy Molino
Tracy Molino
Liliane Langevin
Liliane Langevin
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On August 21, 2025, Payments Canada published its RTR Participation Guide for Payment Service Providers (Guide), clarifying how payment service providers (PSPs) can become participants in Canada's new real-time payments system, the Real-Time Rail (RTR).

The Guide follows Payments Canada's public consultation on the legal and policy framework for the RTR, including the RTR By-law and Draft RTR Rules, which closed on July 2, 2025. Final versions of the RTR By-law and RTR Rules have not yet been published. For further information on the status of RTR implementation, see our Blakes Bulletin: Canadian Payments Update: Significant Developments Anticipated in 2025.

Once amendments to the Canadian Payments Actcome into force, PSPs that register with the Bank of Canada under the Retail Payment Activities Act(RPAA) will be eligible to apply for Payments Canada membership. In addition to system access, this membership will grant PSPs governance rights,

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