On August 10, 2015 the International Organization for Standardization (ISO) Real-Time Payments Group (RTPG) published for review and comment the first draft of the ISO 20022 Standard (ISO 20022). Ana Badour, Kirsten Thompson and Emma Sarkisyan of McCarthy Tetrault law firm take a look at the proposed purpose of ISO 20022 and the potential privacy and security concerns of using the standard in the Canadian payments market.