Case scenarios about retail payments supervision - Bank of Canada

19 result(s)

October 2, 2024

Case scenarios about providers of services backed by cryptocurrencies

These fictional case scenarios provide more details about the following payment functions performed in relation to cryptocurrencies: provision or maintenance of an account; holding of funds on behalf of an end user; initiation of an electronic funds transfer at the request of an end user; authorization of an electronic funds transfer or the transmission, reception or facilitation of an instruction in relation to an electronic funds transfer.

Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration

October 2, 2024

Case scenarios about marketplaces

The following fictional case scenarios provide examples of payment functions that are, and are not, incidental to a marketplace. These include the provision and maintenance of an account; the holding of funds on behalf of an end user; and authorization of an electronic funds transfer and the transmission, facilitation or reception of an instruction in relation to an electronic funds transfer.

Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration

October 2, 2024

Case scenarios about lending

The following fictional case scenarios provide examples of payment functions that are, and are not, incidental to a consumer lending business.

Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration

October 2, 2024

Case scenarios about holding funds

The following fictional case scenarios provide examples to help providers identify whether they perform the payment function of holding funds.

Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration

October 2, 2024

Case scenarios about cloud computing

The following fictional case scenarios provide more detail about performing the following payment functions: initiation of an electronic funds transfer (EFT) and the authorization of an EFT or the reception, transmission, reception or facilitation of an instruction in relation to an EFT.

Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration

October 2, 2024

Case scenarios about card program managers

The following fictional case scenarios provide examples of incidental activities under the Retail Payment Activities Act, especially in the context of card program managers.

Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration

October 2, 2024

Case scenarios about acquirers

The following fictional case scenarios provide more details about the performance of payment functions under the Retail Payment Activities Act by providers of acquiring services, including in respect of the holding funds payment function.

Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration

August 21, 2024

Case scenarios about securities exclusion

The following fictional case scenarios illustrate the application of the securities exclusion in paragraph 6(b) of the Retail Payment Activities Act.

Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration

August 21, 2024

Case scenarios about remittance service providers

The following fictional case scenarios provide examples to help providers identify whether they perform the holding funds payment function, especially in the context of cross-border remittances.

Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration

August 21, 2024

Case scenarios about payroll services

The following fictional case scenarios provide examples of incidental activities under the Retail Payment Activities Act.

Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration

Disclaimer

The case scenarios are illustrative examples reflecting the Bank of Canada’s interpretation of certain requirements set out in the Retail Payment Activities Act (RPAA). All names, facts and descriptions in these scenarios are entirely fictitious and do not reflect any real or actual individuals or entities.

Additionally, they do not represent legal advice and should not be used as a replacement for seeking such advice if an individual or entity is unsure about whether they are required to register with the Bank of Canada as a payment service provider. The nature of the products and services offered by each individual or entity will vary, as will the circumstances around offering these products and services. Therefore, any individual or entity that may be subject to the RPAA should assess their own situation on a case-by-case basis according to their own facts and circumstances. Any entity or individual that may be subject to the RPAA is ultimately responsible for determining whether they are required to register with the Bank.

The examples provided are not a replacement for the Criteria for registering payment service providers supervisory policy, but rather they are meant to complement the policy. They should be read in conjunction with the policy.