Canada Launches Real-Time Rail Instant Payments With Mandatory Fraud Tools, No Scam Refund Rule
· techtimes.com · popularity 18/100 · 0 similar stories today · Banking, Payments & Fintech (Money, Markets & Investing)
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Summary
Canada Real-Time Rail instant payments went live Nov. 9 with four mandatory fraud services, including confirmation of payee and a transaction safety score, but settlement is irrevocable, no federal rule requires banks to refund authorized scam transfers, and Canada's Big Six banks, including RBC and TD, have not yet joined the network.
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