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Discussion
Canada's real-time payment system won't launch before 2026
Ketharaman Swaminathan

Ketharaman Swaminathan

  "Canada's Real-Time Rail, a payments system that has been in development for several years and was originally set to go live this month, has been delayed again as the body that runs Canada's domestic payments networks pauses to perform a second review of the project's risks.", wrote Kate Fitzgerald on 26 Jun 2023 in an American Banker article (Disclosure: I'm quoted in this article). No skin off my back since I'm not a taxpayer in Canada but a further delay of (at least) two years is ridiculous. It's not like RTR is something new - it's just another A2A RTP that has been implemented by 60 other countries in the last 15+ years starting from FPS in UK in 2008. I'm guessing the latest delay is due to the third - or fourth or fifth? - review of the program's risk, just as the previous ones were. My unsolicited $0.02: If Canada does a Lloyds Bank style purge of its risk department headcount, RTR might go live before end of 2025, if not 2024.
Blair Institute sets out 'progressive vision' for fintech
A Finextra Member

A Finextra member

  The open finance expansion in combination with real time payments will speed-up the expansion of fraud in the UK. Does Labour and the Blair Institute have a programme for fraud elimination as well. If so, please table it asap. So far the UK government has made the payer and payee payment institutes compensate the defrauded but with expansion of open finance and real time payments these two payment instutes become even more victims than today and organized criminals can keep pocketing ever growing takings that they can re-invest in drug distribution and human trafficing.
Canada's real-time payment system won't launch before 2026
A Finextra Member

A Finextra member

  Likely the European Union legislation on real time payments mandate for all banks in the Euro area from September 2024 (receive RTP) will see serious delays as well. 
Russia targets Apple over banking apps
A Finextra Member

A Finextra member

  Likely the Russian government plans to seize some Apple assets in Russia with the accusation that Apple is in violatio of the Russian anti-competition legislation. This is why this accusation comes now and not in 2022.  
Níamh Curran

What’s happening at Temenos?

Níamh Curran - Senior Reporter - Finextra