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Retail payments supervision consultation

We want to hear from you. Review our draft supervisory guidelines and find out how to provide your feedback.

Under the Retail Payment Activities Act (RPAA), payment service providers registered with the Bank of Canada must demonstrate how they manage their operational risks, respond to incidents, safeguard end-user funds, and notify the Bank of certain incidents and significant changes. This requirement comes into effect on September 8, 2025.

About the consultation

We have drafted new supervisory guidelines to help payment service providers understand their obligations. We are now seeking feedback from payment professionals on the standards and practices in the following draft documents:

For each guideline, we want to know if any aspects of the draft guidelines could be:

  • clarified
  • challenging to implement

Share your feedback

Comments on each guideline document can be submitted by by May 21, 2024. Please ensure your feedback is as specific as possible. We may reach out to respondents directly to obtain more information.

Your feedback will inform the final supervisory guidelines. The guidelines will be published in the second half of 2024, alongside an anonymized summary of the comments received during this consultation.

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