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The global payments ecosystem’s path to faster and real-timepayments ubiquity is an evolution, not a revolution. That is to say, mass adoption will take time, and the factors driving that adoption will almost certainly continue to change and shift as end users’ needs do the same.
As Canada gears up to launch its real-timepayments system, the Real-Time Rail (RTR), Payments Canada , the entity at the head of the initiative, has announced that Mastercard -owned Vocalink has been chosen as the clearing and settlement solution provider for the new payment rail.
In today’s digital age, however, speedy transactions depend on payment rails that support rapid settlement and messagingstandards that enable sending and quickly processing comprehensive payment details. . NACHA also offers a tool to help firms send ISO 20022-approved remittancesdata for B2B payments. .
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