If your business moves money for others in Canada, the Retail Payment Activities Act (RPAA) likely requires you to register as a payment service provider with the Bank of Canada and stand up a formal compliance program. We handle the whole process.
Who has to register
The RPAA captures payment service providers (PSPs) that perform retail payment activities such as holding funds, payment initiation, authorization, or fund transfers for end users. If your platform, app, or service touches the flow of electronic payments, you may be in scope, even if you are already a FINTRAC-registered money services business.
How we help
We assess whether your activities are captured, prepare and file your registration with the Bank of Canada, and build the risk-management and incident-response framework and the end-user fund safeguarding the Act requires. We also align your RPAA obligations with your existing MSB and FINTRAC program so you are not running two disconnected compliance regimes.
Why it matters
Operating in scope without registering carries significant penalties and can cut off access to Canada’s payment systems. Getting it right early protects your licence to operate and builds trust with banking partners and clients.