Canada's payment system finance rules now cover the new Real-Time Rail (RTR) system
Canadian Payments Association By-law No. 2 — Finance — under the CANADIAN PAYMENTS ACT
Plain-language summary · AI-assisted · not legal advice
Payments Canada's internal finance by-law has been updated to formally bring the Real-Time Rail (RTR) payment system within its scope. Two key definitions have been extended: 'participant' now includes anyone who is a participant under the RTR by-law (By-law No. 10), and 'system' now explicitly lists the RTR alongside the existing Automated Clearing Settlement System and Lynx. This means dues, transaction fees, and service fees calculated under the finance by-law will apply to RTR participation in the same way they apply to other Payments Canada systems. Organizations that participate or plan to participate in the RTR should review how the existing fee and dues framework will apply to their RTR activity.
Who this affects: RTR system participants · Payments Canada member financial institutions · Direct clearers and group clearers · Lynx participants
Source of truth: SOR/2016-283 on the official source
Legislative text © King's Printer for Ontario. This page is not an official version of the law and is not legal advice. Verify against the official source before acting.
Get changes like this in your inbox, every Friday.