Retail payments
Keeping payment services safe and trustworthy for Canadians
Canadians rely on payment services every day to move their money safely and efficiently. Through our retail payments supervision mandate, we help protect end users and maintain confidence in payment services.
Understand both our responsibilities and payment service providers’ requirements under this mandate.
Our responsibilities
We supervise payment service providers (PSPs) that are subject to the Retail Payment Activities Act (RPAA) and the Retail Payments Activities Regulations (RPAR).
To get an overview of our implementation of the RPAA, consult our key milestones.
Supervisory framework
To fulfill our obligations under the RPAA we developed a framework for retail payments supervision.
Our supervision focuses on reducing certain risks to end users while supporting a payment system that is safe, innovative and competitive. Our responsibilities are:
Registration
We assess applications and register PSPs that are subject to the RPAA. We maintain and publish:
Supervision
We supervise registered PSPs and applicants to assess whether they:
- manage operational risks
- respond effectively to incidents
- safeguard end‑user funds in accordance with the RPAA and its regulations
- meeting mandatory reporting requirements
Enforcement
Where necessary, we may take enforcement action to address violations and promote, including against PSPs that fail to register or do not meet RPAA requirements.
We promote compliance by:
- communicating supervisory expectations
- monitoring trends and risks in the retail payments sector
- using information collected through reporting and supervisory activities to assess compliance
See a list of enforcement decisions.
Cost recovery
We recover the costs of registration and supervision through:
- a one-time registration application fee
- annual assessment fees for registered PSPs
Consumer protection
Under our retail payment supervision mandate, we do not offer broader consumer protection, such as:
- dispute resolution between a PSP and its end users
- concerns about fees charged by PSPs
- privacy complaints
Our focus is on the supervision of PSPs rather than on direct consumer protection.
While we don’t handle individual disputes, you should report issues directly to the PSP. If the issue is unresolved, consider contacting your provincial or federal consumer protection agency for further assistance.
Payment service providers responsibilities
Individuals and entities who are subject to the Retail Payment Activities Act (RPAA) are required to register with us and must manage operational risks, respond to incidents, and protect end‑user funds.
As of September 8, 2025, PSPs must have established risk management and funds safeguarding frameworks. They are also required to submit an annual report.
Supervisory framework
Know your requirements as an applicant or as a registered payment service provider and find out how we will assess compliance under the Retail Payment Activities Act.
Resources
Access all supervisory policies and guidelines, FAQs and other materials related to the RPAA and its Regulations.
PSP Connect
Access PSP Connect to register and to comply with your reporting requirements under the RPAA.