Susan Hawkins, CEO of the non-profit organization in charge of Canada’s payment infrastructure, said at a Toronto conference that Payments Canada has finished testing how the forthcoming instant payments system behaves in business scenarios and is now making sure its parts will work together to handle the expected workload. (The Logic)

Talking point: Payments Canada finished building the RTR last summer, after many delays and more than a decade after Ottawa first started laying the groundwork for it, and has been testing it in preparation for launch ever since. Hawkins’ target of the late fourth quarter is the most specific Payments Canada has been in years about when it expects to launch the system. More than 100 other countries, including the U.S., India and Brazil, already have instant payment systems, according to data from Pymnts Intelligence. Payments on the RTR will send, clear and settle almost instantly, 24 hours a day and 365 days a year. Transactions can include data that will make it easier to track payments and settle disputes.