Central Banking

Vocalink to provide Canada’s real-time payments infrastructure


UK-based payments firm Vocalink has won a contract to provide real-time payments infrastructure for Canada’s ongoing retail payments overhaul.

The firm, owned by Mastercard since 2016, will provide the clearing and settlement infrastructure, as well as related services, Payments Canada said in a statement.

The new system, known as “real-time rail” (RTR), will be operated by Payments Canada and regulated by the Bank of Canada. The central bank will continue to operate its large-value transfer

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