June 17, 2024 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 supervision materials, Supervisory policies Topic(s): Enforcement, Registration
April 17, 2024 Prescribed supervisory information This supervisory policy provides an explanation of the prescribed supervisory information provisions and sets out the Bank of Canada’s expectations for payments service providers’ compliance with non-disclosure requirements related to prescribed supervisory information under subsection 64(1) of the Retail Payment Activities Act and sections 37 to 38 of the Retail Payment Activities Regulations. Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Supervision
April 17, 2024 Record keeping This supervisory policy outlines what records payment service providers should keep and retain to comply with their record-keeping obligations under the Retail Payment Activities Act and the Retail Payment Activities Regulations. Content Type(s): Retail payments supervision materials, Supervisory policies Topic(s): Supervision
February 21, 2024 Safeguarding end-user funds This draft supervisory guideline is intended to help payment service providers subject to the Retail Payment Activities Act meet their obligations related to safeguarding end-user funds. Content Type(s): Retail payments supervision materials, Supervisory guidelines Topic(s): Supervision
December 12, 2023 Case scenarios about point-of-sale terminals The following fictional case scenarios provide details about the payment functions: initiation of an electronic funds transfer at the request of an end user; the authorization of an electronic funds transfer; and 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
December 12, 2023 Case scenarios about payment accounting software and invoice payment services The following fictional case scenarios provide details about the payment functions: provision or maintenance of an account on behalf of an end user; the initiation of an electronic funds transfer at the request of an end user; the provision of clearing and settlement services; as well as examples of incidental activities under the Retail Payment Activities Act. Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration
December 12, 2023 Case scenarios about merchants and the incidental payment function The following fictional case scenarios offer examples of providing or maintaining an account payment function as well as examples of incidental activities under the Retail Payment Activities Act. Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration
December 12, 2023 Case scenarios about merchant or group of merchants instrument exclusion The following fictional case scenarios illustrate the types of activities exempted under paragraph 6(a) of the Retail Payment Activities Act. Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration
December 12, 2023 Case scenarios about geographic scope The following fictional case scenarios provide examples of how to apply the geographic scope criteria under the Retail Payment Activities Act when a foreign payment service provider is involved. Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration
December 12, 2023 Case scenarios about designated payment systems The following fictional case scenarios provide examples to help differentiate payment functions performed using a designated system under section 7 of the Retail Payment Activities Act (and exempted as a result) from other non-exempted payment functions related to the same transaction. Content Type(s): Retail payments supervision materials, Case scenarios Topic(s): Registration