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Payment systems

We underpin the Canadian financial system and economy by owning and operating Canada’s payment clearing and settlement infrastructure, including associated retail and high-value systems, bylaws, rules, procedures and standards.

 

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Real-Time Rail payment system

The Real-Time Rail (RTR) — Canada’s first national real-time payment system — supports faster (24/7/365), data-rich payments and acts as a platform for payment innovation and competition.

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Retail batch payment system

Canada’s retail batch payment system is made of up of the Automated Clearing Settlement System (ACSS) and United States Bulk Exchange application (USBE).

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High-value payment system - Lynx

Lynx is used by participating financial institutions to safely send wire payments on behalf of their customers, in Canadian dollars.

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Payments Canada fees

In addition to an annual fee, member participants on Payments Canada systems are charged for transactions on those systems.

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System closure schedule

Payments Canada systems are operational from Monday to Friday, with the exception of statutory holidays, visit the system closure schedule for details.

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Modernizing the Canadian payment systems

Payments Canada is leading a multi-year, multi-phase initiative to modernize Canada’s payment systems.

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