Payment Radar
Canada's RTR to launch with fraud capabilities; new anti-fraud and open banking rules to follow
Payments Canada and the Department of Finance Canada discussed upcoming payment policy changes at the 2026 Payments Canada SUMMIT.
What changed
The federal budget introduced new measures requiring federally regulated banks to detect and prevent fraud, report fraud occurrences, and manage account capabilities with customer consent. Draft regulations for these requirements will be published for consultation in the coming weeks. Additionally, Payments Canada confirmed that the upcoming Real-Time Rail (RTR) will launch with built-in fraud capabilities. The Consumer-Driven Banking Framework is also being legislated, with a second phase adding ’write access’ to allow customers to share data with third parties. Payments Canada and the Department of Finance Canada discussed these developments at the 2026 Payments Canada SUMMIT. Payments Canada: The organization that operates Canada’s core payment clearing and settlement systems including Lynx and the upcoming Real-Time Rail. RTR: Real-Time Rail, Payments Canada’s upcoming instant payment system for Canadian bank accounts.
Why a business should care
Canadian merchants will face new compliance burdens regarding fraud reporting and detection. The integration of real-time payments and open banking data will alter how payments are processed and how customer data is shared. Merchants must adapt to these operational changes to avoid regulatory penalties and ensure smooth checkout experiences.
Who it affects
All Canadian merchants, particularly those using federally regulated banks or payment service providers.
What to consider doing
Pull your current fraud detection and reporting policies and compare them against the upcoming draft regulations for fraud occurrence reporting and detection requirements.
Uncertainty and risks
Non-compliance with new fraud reporting and detection requirements could lead to regulatory penalties. Merchants must also adapt to new payment rails and data sharing frameworks. The timing of the draft regulations and the final implementation of the RTR and open banking rules remains to be confirmed. New federal budget measures introduce mandatory fraud detection/prevention policies, fraud occurrence reporting, and consent-based account capability management for banks. The Real-Time Rail (RTR) is confirmed to launch with fraud capabilities, and the Consumer-Driven Banking Framework is legislated with a second phase adding ’write access’.
Updated Payment Radar editor
Payments Canada Announces Q4 2026 Launch of Real-Time Rail with Mandatory Centralized Fraud Mitigation
There has since been a further development.
Payments Canada has confirmed the Real-Time Rail will launch in Q4 2026 with mandatory centralized fraud mitigation services.
Source: Payments Canada Announces Q4 2026 Launch of Real-Time Rail with Mandatory Centralized Fraud Mitigation — Payments Canada (2026-10-02)
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