Payments Canada has selected and partnered with Nexi to further enhance the resilience of Lynx, Canada’s payment system. Based on the real-time gross settlement (RTGS) model, wire payments cleared and settled using Lynx are intended to be fast, irrevocable, and made with real-time settlement finality.

Payments Canada is now using Nexi’s RTGS Extreme Contingency Solution (RECS), specifically designed to ensure the reliability and resilience of the Lynx system. The technology is set to help the organisation continue to operate in the event of a disruption or sudden disaster. Moreover, the Nexi RECS technology provides the organisation with an additional site that can be activated in the event of an emergency, such as a malicious attack, network failure, natural or accidental disaster.

If such an event were to occur, the technology would allow the organisation to continue to provide a core service that underpins the Canadian economy until normal business is restored. Officials from Payments Canada stated that this solution, completed in partnership with Lynx participants, the Bank of Canada and technology partners IBM and Nexi, provides a supplementary layer of resilience to support the continuity of its operations in a safe and secure manner. About Nexi Nexi is a European paytech company with a mission to drive the transition to a cashless Europe.

With its portfolio of products, ecommerce expertise and industry-specific solutions, the paytech provides flexible support for the digital economy and the entire payment ecosystem globally across a broad range of different payment channels and methods. Nexi’s technological platform enables the company to operate in three market segments: merchant solutions, issuing solutions and digital banking solutions. Nexi is committed to supporting people and businesses of all sizes, transforming the way people pay and businesses accept payments.

It offers companies reliable solutions to better serve their customers and expand. .