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ARTICLE · 13 MARCH 2025

Canadian Payments Update: Significant Developments Anticipated In 2025

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
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2025 may prove to be a year of significant change to the Canadian payments landscape due to the expansion of Payments Canada membership and further development of the Real-Time Rail (RTR) payment system.

CanadaFinance and Banking
Tracy Molino
Tracy Molino
Bonny Murray
Bonny Murray
Liliane Langevin
Liliane Langevin
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2025 may prove to be a year of significant change to the Canadian payments landscape due to the expansion of Payments Canada membership and further development of the Real-Time Rail (RTR) payment system.

Payments Canada is the member-funded organization that owns and operates two core Canadian payment systems: Lynx and the Automated Clearing Settlement System (ACSS). It also establishes the by-laws, rules and standards that support these systems.

Under the Canadian Payments Act (CPA), Payments Canada also has a mandate to facilitate the development of new payment methods and technologies and a duty to promote the efficiency, safety and soundness of its payment systems. Banks, authorized foreign banks and the Bank of Canada are mandatory Payments Canada members, while certain other entities, including credit union centrals, trust and loan companies and securities dealers, are eligible for membership.

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