Suppliers and vendors can receive payment from businesses in real time.
With Canada’s Real-Time Rail, suppliers can securely receive payment the minute a business pays an invoice rather than wait days or weeks. Suppliers gain improved visibility into when funds will be received, creating more certainty in cash flow planning and reconciliation processes.
For buyers, traditional payment methods can often mean waiting for payments to clear before shipment orders are released. This disrupts production timelines, delays revenue generation and requires costly cash floats to cover settlement gaps.
Leverage supplier 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.