Faster payments

One of the goals behind Canada's payments overhaul is to get it right the first time.

With over five years of experience in handling real-time business-to-business payments, Transpay has learned that there's more to faster payments than just moving funds. The system has to accommodate a cleaner, rapid process for resolving any issues that arise along the way.

Regulators are calling for the boards of the three separate faster-payments initiatives to review and endorse the consolidation plan and complete most of the consolidation before the end of 2017.

The B-to-B payments market is ripe for digital innovation. Here are some of the most recent moves to bring B-to-B payments up to speed.

The majority of small and medium-sized businesses in the U.S. and Europe express an interest in real-time payments, but very few are aware of the current options being tested and brought to market.

Lots of countries are making big changes to their payment ecosystems, with lots of public fallout. By contrast, Canada's efforts appear much more subdued.