Learn about the RPAA and the upcoming registration requirements for Payment Services Providers.
Beginning in November 2024, all businesses identified as Payment Services Providers (PSPs) must register with the Bank of Canada. This new regulation aims to enhance oversight and ensure compliance in the payment processing sector.
Stay informed about the upcoming changes affecting your business operations.
Mark your calendar for November 2024 to ensure compliance.
To be classified as a Payment Services Provider (PSP) under the RPAA, businesses must meet specific criteria set by regulatory authorities. This classification ensures compliance and enhances the security of payment services across Canada.
Compliance with the RPAA fosters increased trust among consumers and partners. It opens up new market opportunities for Payment Services Providers, enhancing their competitive edge.
Establishing compliance signals reliability, encouraging customers to choose your services confidently.
Establishing compliance signals reliability, encouraging customers to choose your services confidently.