Payments Canada today launched Canada’s Real-Time Rail (RTR), a new national payment system that runs 24 hours a day, every day of the year. Participating financial institutions, credit unions and payment service providers can now use it to exchange, clear and settle payments for their customers securely and in real time. The launch marks a major milestone in modernizing the critical infrastructure that underpins Canada’s economy and future growth.
As a delivery partner for the RTR, Interac designed and built the RTR Exchange, serves as Technical Operator and delivers the system’s centralized fraud services.
Spokesperson statements:
Jeremy Wilmot, President and CEO, Interac: “As the RTR’s Technical Operator and first Fraud Services Provider, Interac is proud to support Payments Canada and the wider payments ecosystem in achieving this historic launch milestone. We bring more than 40 years of experience to these roles, and our commitment is clear: to operate always-on infrastructure Canadians can trust. As Interac e-Transfer payments begin to clear and settle on the RTR, we will put this world-class infrastructure to work for consumers and businesses.”
Anuj Dhall, Group Head, Technology and Operations, Interac: “Our role as the Technical Operator of the RTR is both a privilege and a profound responsibility. We have drawn on our unique resources and the deep expertise we’ve built over decades of operating Canada’s mission critical payment systems to make this ground-breaking launch possible for Canadians. We remain committed to delivering dependable service and helping Canadians benefit from truly real-time payment experiences.”
John Collinson, Head, RTR Technology and Operations, Interac: “The launch of the RTR reflects years of work by teams across Payments Canada, Interac and our delivery partners to design, build and test national payment infrastructure. For the people who brought it to life, launch day is a proud milestone. It’s the moment when years of building and testing culminate in infrastructure serving Canadians every day.”
Mark Hines, Head of Fraud Product, Interac: “Real-time payments require fraud safeguards that act with the same speed as the transactions themselves. Interac Fraud Services work alongside each participant’s own controls, helping identify and mitigate fraud risk before money moves, while supporting a coordinated layer of defence across the network.”
For more information on the launch of the RTR, visit payments.ca. To hear from Mark Hines, Head of Fraud Product at Interac, about how fraud safeguards support real-time payments, click here.
About Interac Corp.
Interac empowers Canadians to transact digitally with confidence by providing payment and value exchange services. In helping to develop the future of money movement in Canada, security is at the core of everything we do. We help keep Canadian customers safe and secure when transacting. With nearly 300 financial institutions connected to our network, Canadians choose Interac products over 20 million times a day on average to exchange money. Interac champions workplace culture, community, and corporate citizenship. We are proud to be one of Canada’s leading and most trusted financial brands.
Media contacts:
Interac Corp., media@interac.ca
