October 2, 2024
Publication date: December 12, 2023
Last updated: October 2, 2024
Find case scenarios to help individuals and entities determine whether they are subject to the Retail Payment Activities Act and should register with the Bank.
19
result(s)
October 2, 2024
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.
Case scenarios about marketplaces
Content Type(s):
Retail payments supervision materials,
Case scenarios
Topic(s):
Holding funds,
Registration
October 2, 2024
The following fictional case scenarios provide examples of payment functions that are, and are not, incidental to a consumer lending business.
Case scenarios about lending
Content Type(s):
Retail payments supervision materials,
Case scenarios
Topic(s):
Registration
October 2, 2024
The following fictional case scenarios provide examples to help providers identify whether they perform the payment function of holding funds.
Case scenarios about holding funds
Content Type(s):
Retail payments supervision materials,
Case scenarios
Topic(s):
Holding funds,
Registration
October 2, 2024
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.
Case scenarios about cloud computing
Content Type(s):
Retail payments supervision materials,
Case scenarios
Topic(s):
Registration
October 2, 2024
The following fictional case scenarios provide examples of incidental activities under the Retail Payment Activities Act, especially in the context of card program managers.
Case scenarios about card program managers
Content Type(s):
Retail payments supervision materials,
Case scenarios
Topic(s):
Holding funds,
Registration
October 2, 2024
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.
Case scenarios about acquirers
Content Type(s):
Retail payments supervision materials,
Case scenarios
Topic(s):
Holding funds,
Registration
August 21, 2024
The following fictional case scenarios illustrate the application of the securities exclusion in paragraph 6(b) of the Retail Payment Activities Act.
Case scenarios about securities exclusion
Content Type(s):
Retail payments supervision materials,
Case scenarios
Topic(s):
Registration
August 21, 2024
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.
Case scenarios about remittance service providers
Content Type(s):
Retail payments supervision materials,
Case scenarios
Topic(s):
Holding funds,
Registration
August 21, 2024
The following fictional case scenarios provide examples of incidental activities under the Retail Payment Activities Act.
Case scenarios about payroll services
Content Type(s):
Retail payments supervision materials,
Case scenarios
Topic(s):
Holding funds,
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.
If you have questions about retail payments supervision or have any comments on this topic, contact us.