Funds transfer instantly and are immediately available, enabling instant loan funding and rent payments.
Loan funding
Borrowers can securely receive loan funds immediately upon approval.
Real-time loan funding gives borrowers instant access to funds as soon as a lender approves their loan. Borrowers then immediately pay emergency bills or free up cash flow for other expenses.
Using Canada’s Real-Time Rail, lenders can offer their customers instant loan funding through real-time payments.
Consumer rent payments
Landlords and property management companies can receive rent in real time with immediate confirmation of funds.
Real-time payments replace the uncertainty of traditional payments with instant certainty and control. Instant rent payments help tenants minimize late fees and give landlords immediate access to funds. By using data-rich payments over Canada’s Real-Time Rail, senders can also include complete transaction details with every payment.
Leverage instant payments
To leverage this use case, both the sending and receiving financial institutions must be enabled to use Canada’s Real-Time Rail. Contact your Payments Canada relationship manager or email info@payments.ca to learn how your financial institution or payment service provider can adopt the forthcoming Real-Time Rail.