December 12, 2024
Publication date: December 12, 2023
Last updated: December 12, 2024
Access all supervisory policies and guidelines on registration, supervision and enforcement related to the Retail Payment Activities Act and the Retail Payment Activities Regulations.
On December 12, 2024, the Bank of Canada published:
- the final supervisory guideline for the safeguarding of end-user funds
- its responses to feedback from the consultation on safeguarding end-user funds
We develop supervisory policies and guidelines to help payment service providers (PSPs) understand their obligations and how we will supervise them under the Retail Payment Activities Act (RPAA) and the Retail Payment Activities Regulations (RPAR).
- Supervisory policies are documents that clarify what we will do to carry out our supervisory role, including registration and enforcement activities.
- Supervisory guidelines are documents that clarify the standards and practices we expect PSPs to incorporate into their business operations to meet risk management requirements. We may conduct consultations on our guidelines to gather input and feedback on these supervisory expectations.
For more terminology about retail payment supervision, refer to the glossary.
To help individuals or entities assess whether they could be subject to the Retail Payment Activities Act, use our self-assessment tool.
23
result(s)
October 31, 2024
This supervisory policy aims to help applicants gather the information and documents they need to complete the application form during the initial 15-day registration phase.
How to complete a registration application: A step-by-step guide
Content Type(s):
Retail payments supervision materials,
Supervisory policies
Topic(s):
Registration
October 31, 2024
This supervisory policy explains the one-time fee applicants must pay when submitting an application to register as a payment service provider with the Bank.
Registration application fee
Content Type(s):
Retail payments supervision materials,
Supervisory policies
Topic(s):
Registration
October 16, 2024
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.
Entering into a compliance agreement with the Bank of Canada
Content Type(s):
Retail payments supervision materials,
Supervisory policies
Topic(s):
Enforcement
October 16, 2024
This supervisory policy outlines the retail payment activity metrics that payment service providers must report as part of the annual reporting form.
Annual reporting of retail payment activity metrics
Content Type(s):
Retail payments supervision materials,
Supervisory policies
Topic(s):
Reporting,
Supervision
October 16, 2024
This supervisory policy provides an overview of annual reporting requirements and clarifies how the Bank of Canada expects payment service providers to comply with those requirements.
Annual reporting
Content Type(s):
Retail payments supervision materials,
Supervisory policies
Topic(s):
Reporting,
Supervision
October 16, 2024
This supervisory policy outlines the retail payment activity metrics that payment service providers must report at registration.
Reporting of retail payment activity metrics at registration
Content Type(s):
Retail payments supervision materials,
Supervisory policies
Topic(s):
Registration,
Reporting
October 16, 2024
This supervisory policy explains how the Bank of Canada expects registered payment service providers (PSPs) to comply with requirements to provide updated registration information.
Reporting changes to registration information
Content Type(s):
Retail payments supervision materials,
Supervisory policies
Topic(s):
Registration,
Reporting
October 16, 2024
This supervisory guideline explains the significant change and new activity notice requirements applicable to payment service providers subject to the Retail Payment Activities Act and provides clarity on how the Bank expects payment service providers to comply with them.
Notice of significant change or new activity
Content Type(s):
Retail payments supervision materials,
Supervisory guidelines
Topic(s):
Reporting,
Supervision
October 16, 2024
This supervisory guideline explains the incident reporting requirements applicable to payment service providers subject to the Retail Payment Activities Act and provides clarity on how the Bank expects payment service providers to comply with them.
Incident notification
Content Type(s):
Retail payments supervision materials,
Supervisory guidelines
Topic(s):
Reporting,
Supervision