Slow progress on improving digital payment infrastructure is partially responsible for Canada’s lagging GDP per capita, Interac CEO Jeremy Wilmot said in opening remarks at the Payments Canada Summit in Toronto Tuesday. He called for “alignment” among regulators, banks and fintechs to speed things up. (The Logic)

Talking point: Wilmot and Payments Canada CEO Susan Hawkins both urged attendees to work together to keep the country from falling behind as the U.S.-led trade war threatens the global economy. The two executives made the remarks as the Real-Time Rail—a system for facilitating instant payments that Payments Canada oversees and Interac is building—remains under construction after years of delays. Hawkins said the technical portion of the long-delayed Real-Time Rail payments system is on track to be completed in the third quarter of this year.