[News](https://www.payments.ca/insights/news-research?field_article_type=24) # Payments Canada publishes Modernization Delivery Roadmap 2020 December 15, 2020 Today, Payments Canada published the [Modernization Delivery Roadmap December 2020 Update](/sites/default/files/2022-08/PaymentsCanada_2020ModernizationRoadmap_En.pdf), an update on Canada’s payments Modernization progress. In the coming two years, Canada will see the launch of two new payments systems: [Lynx](https://modernization.payments.ca/high-value-payments-system/) in 2021 and the [Real-Time Rail](https://modernization.payments.ca/the-plan/real-time-rail/) (RTR) in 2022. Lynx will modernize Canada’s high-value clearing and settlement system ([Large Value Transfer System](https://www.payments.ca/about-us/our-systems-and-rules/large-value-transfer-system)) with an enhanced risk model that complies with Canadian and international risk standards. In its follow-up release, Lynx will support ISO 20022 messaging in support of Canadian financial institutions meeting ISO 20022 global requirements. In 2020, Canada saw an [upsurge in the use of digital payments](https://www.payments.ca/about-us/news/canadian-spending-and-purchase-habits-have-not-yet-returned-pre-pandemic-preferences) and a rise in Canadians' adoption of new ways to pay. The RTR will support this growth with faster, secure, data-rich payments and act as a platform for the introduction of new payment products and experiences for Canadians and Canadian businesses. The Modernization program is refined and updated as milestones are reached, informed by ongoing consultation with Canadian financial institution members, stakeholders and regulators. Starting in 2021, Payments Canada will move to publish biannual updates on Modernization progress. [Download Roadmap ](/sites/default/files/2022-08/PaymentsCanada_2020ModernizationRoadmap_En.pdf) --- ### Keeping a pulse on Canada’s Modernization journey. - To stay up-to-date about the Modernization journey, subscribe to our stakeholder newsletter, [The Exchange](https://www.payments.ca/resources/subscribe). - To learn about the benefits of Modernization, check out these stakeholder interviews, including [PayBright](https://modernization.payments.ca/industry-view/paybright-speaks-to-how-faster-data-rich-payments-will-change-the-buy-now-pay-later-retail-experience/), [Prospera Credit Union](https://modernization.payments.ca/industry-view/prospera-credit-union-on-how-small-business-members-will-benefit-from-payments-modernization/), [Canadian Federation of Independent Business](https://modernization.payments.ca/industry-view/small-business-in-canada-the-benefits-of-combining-faster-payments-with-payments-data/) and [Central 1](https://modernization.payments.ca/industry-view/central-1-gets-ready-for-the-launch-of-lynx-canadas-new-high-value-payments-system/). - For additional information about Payments Canada’s Modernization program, visit [modernization.payments.ca](http://modernization.payments.ca). **Questions or comments?** --- [ ![summitseries-jan2021-mailchimp_1.png](/sites/default/files/summitseries-jan2021-mailchimp_1.png) ](https://www.thesummit.ca/page/1528336/discover) [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)