[News](https://www.payments.ca/insights/news-research?field_article_type=24) # 2024 Annual Report now available May 21, 2025 Payments Canada is pleased to announce the release of its 2024 Annual Report, *Payments for Canadians*. This year’s report highlights our progress, achievements and financial performance over the year, reflecting our ongoing efforts to advance our strategic priorities and build a more resilient inclusive and innovative payment ecosystem. ## Key achievements in 2024 **Record payment volume:** In 2024, our systems processed and settled $107 trillion, more than $424 billion every business day, underscoring the critical role our infrastructure plays in supporting Canada’s financial stability and economic growth. **Renewed momentum on the Real-Time Rail (RTR):** Significant technical progress was made on the RTR, which will clear and settle payments between financial institutions in real-time, 24/7/365 days a year. **Enhanced bill payment processing:** We conducted a public consultation to refine processes related to bill payment processing within the Automated Clearing Settlement System (ACSS). Proposed amendments were aimed at improving efficiency, user experience and aligning industry practices. **Strengthened system resilience:** Key amendments to both the ACSS and Lynx high-value payment system reinforces our commitment to operational continuity and risk management. **Changes to the** ***Canadian Payments Act*****:** The recently received Royal Assent for changes to the *Canadian Payments Act* will, when they come into force on a day set by the Governor in Council, expand Payments Canada membership eligibility to include payment service providers as defined in the [*Retail Payment Activities Act*](https://www.bankofcanada.ca/core-functions/retail-payments-supervision/about-retail-payments-supervision-mandate/) (RPAA) that perform retail payment activities, credit union locals that are members of a central, and clearing houses of designated clearing and settlement systems. Membership is a necessary step to participation on Payments Canada systems. Broader participation will foster greater inclusivity, competition and innovation within the ecosystem. ## Strengthening the payment ecosystem **The SUMMIT:** Our largest and most collaborative event to date, The Payments Canada SUMMIT connected more than 1,800 participants and over 300 expert speakers, continuing to serve as a key forum for dialogue, education and industry engagement. **Research and thought leadership:** Payments Canada remained at the forefront of thought leadership, publishing research and policy papers on critical topics such as fraud mitigation, artificial intelligence and the growing demand for real-time payments, helping to inform the future of Canada’s payment system. Looking ahead, Payments Canada remains committed to enabling a resilient, inclusive and innovative payment ecosystem that meets the changing needs of Canadians. Download the complete 2024 Annual Report — [*Payments for Canadians*](/sites/default/files/PaymentsCanada_2024AnnualReport_EN.pdf) — to explore all of our achievements, initiatives and strategic priorities in greater detail. [Return to newsroom](https://www.payments.ca/insights/news-research) ## Keep reading [ ![placeholder.png](/sites/default/files/styles/article/public/placeholder.png?h=5dafd208&itok=qKDbzxAp) News July 27, 2026 ### ACSS rule changes enhance payment system processes Updates provide expanded definitions and process efficiency Payments Canada has implemented a series of administrative and operational amendments to the Automated Clearing Settlement System (ACSS)... ](https://www.payments.ca/acss-rule-changes-enhance-payment-system-processes)[Learn more](https://www.payments.ca/acss-rule-changes-enhance-payment-system-processes) [ ![placeholder.png](/sites/default/files/styles/article/public/placeholder.png?h=5dafd208&itok=qKDbzxAp) News July 14, 2026 ### Payments Canada welcomes Adyen Canada Ltd. as its newest member Payments Canada membership continues to grow with the addition of payment service provider Adyen Canada Ltd . Adyen’s inclusion in our membership highlights the shifting momentum within the Canadian... ](https://www.payments.ca/payments-canada-welcomes-adyen-canada-ltd-its-newest-member)[Learn more](https://www.payments.ca/payments-canada-welcomes-adyen-canada-ltd-its-newest-member) [ ![fast moving blur of a roadway with sun coming from the left](/sites/default/files/styles/article/public/2024-03/RTR_Billboard_2024.png?h=10d202d3&itok=nlBaqyr6) News July 9, 2026 ### Canada’s Real-Time Rail Quarterly Update with Jude Pinto: 2026 Q3 In our latest quarterly update, Jude Pinto , Chief Delivery Officer at Payments Canada, discusses the payment ecosystem support for the RTR and the successful transition of the program into the... ](https://www.payments.ca/canadas-real-time-rail-quarterly-update-jude-pinto-2026-q3)[Learn more](https://www.payments.ca/canadas-real-time-rail-quarterly-update-jude-pinto-2026-q3)