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… government: to make amendments to the Canadian Payments Act part of Budget 2023 to expand Payments Canada’s … Under the RPAA, PSPs will be required to register with the Bank of Canada and comply with operational risk management … financial market infrastructures that are designated by the Bank of Canada to be eligible for Payments Canada membership …

… October 11, 2024. Recent changes to the Canadian Payments Act will give credit unions more options to influence and … Credit unions are an important driver of competition in the banking sector and consumer access to financial services. … as well as obtaining a settlement account from the Bank of Canada. Each credit union will need to assess these …

… What is the Canadian Payments Act ? The Canadian Payment Act (CP Act) is the legislation … to be Payments Canada members. Currently, that includes banks, credit union centrals and very select other financial … Payment service providers who will be registered with the Bank of Canada They help businesses, people and the …

… input on regulations that will support the Retail Payment Activities Act (RPAA) , which were published on February 10, … PSPs will also be required to register with the Bank of Canada to operate under the RPAA. The release of the … payment systems. Bringing PSPs under the regulation of the Bank of Canada will support their ability to be granted …