PSP Assessments Under the RPAA By The Bank of Canada

The Bank of Canada's Supervisory Mandate Supervision of End-User Funds Safeguarding The Bank of Canada is tasked with overseeing how payment service providers (PSPs) protect the funds belonging to their users. This falls under the Bank's responsibilities as defined by the Retail Payment Activities Act (RPAA). The Bank will regularly check if PSPs are following...

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Payments Canada Registration Assistance

How To Register With Payments Canada, Who is Eligible, What Are the Benefits, And What Are the Costs? Defining Payments Canada Registration Registering with Payments Canada is a formal process that signifies a financial institution or payment service provider's adherence to the rules and standards governing payment systems in Canada. It's not just a bureaucratic...

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Stablecoin Act (Canada)

The Canadian Federal Government Passed a Law Regulating Stablecoins In March 2026 The Stablecoin Act (Canada) is a piece of legislation, receiving royal assent in March, 2026, designed to bring clarity and oversight to the issuance and use of stablecoins within the Canadian financial landscape. Its primary aim is to bolster consumer protection, maintain financial stability,...

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PSP Annual Report Canada | 190+ 5-Star Reviews

The Bank of Canada's Annual Reporting Requirement for Payment Service Providers (PSPs) What is RPAA and Why is it Important? The Retail Payment Activities Act (RPAA), along with its associated regulations, establishes a framework for the supervision of payment service providers (PSPs) operating in Canada. This legislation aims to enhance the security and reliability of...

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RPAA Safeguarding Funds Framework

Safeguarding of Funds Held At-Rest by Canadian PSPs Safeguarding funds held by PSPs is absolutely vital for maintaining trust and stability in the payment system. When a PSP holds money for its clients, that money needs to be protected. This protection is especially important if the PSP were to face financial difficulties, like insolvency. The...

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What is the Bank of Canada?

The Bank of Canada's Role Canada's Central Bank Mandate The Bank of Canada is the nation's central bank, established to promote the economic and financial well-being of Canada. Its core mandate, as outlined in the Bank of Canada Act, is to regulate credit and currency in the best interests of the country's economic life. This...

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