June 12, 2026 Bank of Canada to begin publishing Notices of Violation by Payment Service Providers Media Relations Ottawa, Ontario The Bank of Canada will soon start publishing Notices of Violation related to Payment Service Providers (PSPs) that are subject to the Retail Payment Activities Act (RPAA) and the associated Retail Payment Activities Regulations. Content Type(s): Regulatory news Subject(s): Retail payments, Enforcement
February 27, 2026 Bank of Canada issues revised compliance order to XTM Inc. Media Relations Ottawa, Ontario The Bank of Canada today issued a revised temporary order to XTM Inc. (XTM). The Bank has authorized XTM to recommence retail payment activities under the supervision of the Monitor appointed today by the Ontario Superior Court of Justice under the Companies' Creditors Arrangement Act, and subject to terms and conditions set out in the Bank's revised order. Content Type(s): Regulatory news Subject(s): Retail payments, Enforcement, Supervision
February 17, 2026 Bank of Canada issues immediate compliance order to XTM Inc. Media Relations Ottawa, Ontario The Bank of Canada today issued a temporary order to XTM Inc. (XTM) to immediately cease performing any retail payment activities. Content Type(s): Regulatory news Subject(s): Retail payments, Enforcement, Supervision
August 21, 2025 Refusal or Revocation of Registration under the Retail Payment Activities Act (RPAA) This supervisory policy outlines the Bank of Canada’s 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
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
March 21, 2025 Administrative monetary penalties This supervisory policy provides an overview of the Bank of Canada’s administrative monetary penalties (AMPs) regime and how the Bank determines administrative monetary penalty amounts. Content Type(s): Retail payments materials, Supervisory policies Subject(s): Retail payments, Enforcement, Registration
January 31, 2025 Reviews and appeals This supervisory policy describes the Bank of Canada’s process to conduct reviews, as set out in the Retail Payment Activities Act (a “prescribed review”), and outlines what individuals, entities and payment service providers should expect if they request a prescribed review of a retail payments supervision decision. Content Type(s): Retail payments materials, Supervisory policies Subject(s): Retail payments, Enforcement, Registration
October 16, 2024 Entering into a compliance agreement with the Bank of Canada This supervisory policy addresses why the Bank of Canada may offer a compliance agreement to a payment service provider (PSP), the process for entering into a compliance agreement with the Bank of Canada, and what PSPs should expect if they enter into this type of agreement. Content Type(s): Retail payments materials, Supervisory policies Subject(s): Retail payments, Enforcement
June 17, 2024 Significant adverse impact This supervisory policy provides an overview of what the Bank of Canada will consider when determining whether a “significant adverse impact” is occurring or has occurred. Content Type(s): Retail payments materials, Supervisory policies Subject(s): Retail payments, Enforcement, Supervision
June 17, 2024 Roles and Responsibilities of the Executive Director and Managing Director This supervisory policy outlines the roles of the Executive Director and the Managing Director of Payments and Regulatory Oversight. It also describes their responsibilities related to the Bank of Canada’s retail payments supervision mandate. Content Type(s): Retail payments materials, Supervisory policies Subject(s): Retail payments, Enforcement, Registration, Supervision