September 8, 2025 Letter to Industry on Trust Tax Issue As of September 8, 2025, the Bank of Canada’s mandate to supervise Payment Service Providers (PSPs) under the Retail Payments Activities Act (RPAA) is in effect, including regulatory obligations related to operational risk and end-user funds safeguarding. The Bank and the Department of Finance have been made aware of possible unintended tax consequences for PSPs seeking to comply with the safeguarding requirements of the RPAA using the “in trust in a trust account” method. Content Type(s): Regulatory news Subject(s): Retail payments
September 8, 2025 How to complete a registration application: A step-by-step guide This guide aims to help applicants gather the information and documents they need to complete the application form during the initial 15-day registration phase. Content Type(s): Retail payments materials, Guides Subject(s): Retail payments, Registration
September 8, 2025 Payment Service Providers are now under Supervision – Registry to follow Today the Bank of Canada’s mandate to supervise Payment Service Providers under the Retail Payment Activities Act came into effect. Content Type(s): Regulatory news Subject(s): Retail payments
September 8, 2025 Bank of Canada begins supervising Payment Service Providers Today the Bank of Canada’s mandate to supervise Payment Service Providers under the Retail Payment Activities Act came into effect. Content Type(s): Regulatory news Subject(s): Retail payments
August 21, 2025 Refusal or Revocation of Registration under the Retail Payment Activities Act (RPAA) This supervisory policy outlines the Bank of Canada’s (the Bank) powers and procedures to refuse to register applicants or revoke the registration of payment service providers (PSPs) based on the criteria established in the RPAA and its associated regulations. Content Type(s): Retail payments materials, Supervisory policies Subject(s): Retail payments, Enforcement, Registration
August 21, 2025 Re-registration of payment service providers after refusal or revocation This supervisory policy provides guidance on how to submit a new registration application for individuals and entities that have had their registration as retail payment service providers (PSPs) refused or revoked. Content Type(s): Retail payments materials, Supervisory policies Subject(s): Retail payments, Registration
August 8, 2025 Update on Payment Service Providers Registry On September 8, 2025, the Bank of Canada will begin to publish a list of Payment Service Providers (PSPs) that have been registered under the Retail Payment Activities Act, as well as the names of entities whose applications have been refused. Content Type(s): Regulatory news Subject(s): Retail payments
May 20, 2025 How to complete a notice of significant change or new activity: A step-by-step guide This guide explains the questions you will need to answer in PSP Connect and helps identify the documents and information you will need to complete and submit a notice of significant change or new activity to the Bank. Content Type(s): Retail payments materials, Guides Subject(s): Retail payments, Reporting, Supervision
May 20, 2025 How to complete an incident notice: A step-by-step guide This guide explains the questions you will need to answer in PSP Connect and helps identify the documents and information you will need to complete and submit an incident notice to the Bank. Content Type(s): Retail payments materials, Guides Subject(s): Retail payments, Reporting, Supervision
April 15, 2025 Enforcement process This supervisory policy outlines the Bank of Canada’s enforcement process and what individuals, entities and payment service providers should expect if the Bank takes enforcement action against them. Content Type(s): Retail payments materials, Supervisory policies Subject(s): Retail payments, Enforcement