Payments Canada backs plan to link Real-Time Rail with Europe’s instant payments

The commitment forms part of a new Canada–EU “Alliance for the Future”, under which the two sides will also explore opening their markets to each other’s banks, insurers and fintechs. Payments Canada has welcomed a commitment from the Government of Canada and the European Union (EU) to work towards connecting Canada’s Real-Time Rail (RTR) with Europe’s instant payment systems. Leaders agreed the commitment at the 21st Canada–EU Summit, held in Montréal on 29–30 October, where Prime Minister Mark Carney hosted European Council President António Costa and European Commission President Ursula von der Leyen .