[News](https://www.payments.ca/insights/news-research?field_article_type=24) # Payments Canada welcomes joint Canada–EU commitment to interlink real-time payment systems November 2, 2026 Payments Canada welcomes the [joint commitment](https://www.pm.gc.ca/en/news/news-releases/2026/10/30/canada-and-european-union-announce-new-alliance-future-create-greater) from the European Union and the Government of Canada to advance work in support of connecting Canada’s Real-Time Rail (RTR) with Europe’s instant payment systems. The joint agreement commits to “support work toward connecting instant payment systems to facilitate faster, lower-cost and more seamless cross-border transactions, making it easier for Canadians and Europeans to conduct business, invest and transfer funds across the two economies.” Working alongside our members, regulators and partners, Payments Canada will soon launch the country’s real-time payment system, the [Real-Time Rail](https://www.payments.ca/systems-services/payment-systems/real-time-rail-payment-system). Serving as a high-speed, information-rich digital highway, this generational, critical national infrastructure is made in Canada, for Canada and will enable individuals and businesses to safely send and receive data-rich payments instantly, 24/7/365. Real-time payments will offer a new level of trusted choice and convenience to everyday life, driving economic and social benefits across the country. The RTR has been built to international standards, making it internationally extensible. Designed and purpose-built leveraging the global ISO 20022 financial messaging standard, which is an essential feature to support interlinking with instant payment systems in other markets. Payments Canada stands ready to engage with the Canadian government, the Bank of Canada and the European Central Bank (ECB) to begin the important work of turning this shared vision into a reality for Canada. [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 October 26, 2026 ### Payments Canada outlines recommendations for Canada's consumer... Response to Department of Finance consultation highlights key considerations for transition to ‘read’ access. In its response to the Department of Finance consultation on the proposed Consumer-Driven... ](https://www.payments.ca/payments-canada-outlines-recommendations-canadas-consumer-driven-banking-framework)[Learn more](https://www.payments.ca/payments-canada-outlines-recommendations-canadas-consumer-driven-banking-framework) [ ![placeholder.png](/sites/default/files/styles/article/public/placeholder.png?h=5dafd208&itok=qKDbzxAp) News October 1, 2026 ### Payments Canada welcomes six new members as expanded membership... Twenty-two new members have joined since 2025 regulatory changes — a necessary step for those seeking access to critical national payment infrastructure, including the forthcoming Real-Time Rail... ](https://www.payments.ca/payments-canada-welcomes-six-new-members-expanded-membership-eligibility-reaches-one-year-milestone)[Learn more](https://www.payments.ca/payments-canada-welcomes-six-new-members-expanded-membership-eligibility-reaches-one-year-milestone) [ ![placeholder.png](/sites/default/files/styles/article/public/placeholder.png?h=5dafd208&itok=qKDbzxAp) News September 25, 2026 ### Payments Canada names Stephan Orzechowski as Vice President... Payments Canada is pleased to announce the appointment of Stephan Orzechowski as Vice President, Strategic Partnerships and Business Transformation. Stephan will lead strategic vendor partnerships... ](https://www.payments.ca/payments-canada-names-stephan-orzechowski-vice-president-strategic-partnerships-and-business)[Learn more](https://www.payments.ca/payments-canada-names-stephan-orzechowski-vice-president-strategic-partnerships-and-business)