Global fintech and funding innovation ecosystem

Final Retail Payment Regulations Released Paving Way For Implementation

Payments Regulation | Nov 24, 2023

Pexels Breakingpic Start - Final Retail Payment Regulations Released Paving Way For Implementation

Image: Pexels/Breakingpic

The final regulations for the Retail Payment Activities Act (RPAA) have been published in the Canada Gazette, Part II.

These regulations help clarify the details of the legislation and outline the intentions of the law. Payment service providers (PSPs) will be required to register with the Bank of Canada starting on November 1, 2024.

The Bank’s related supervisory requirements will follow in September 2025. More information is now available.

More resources:

  1. Canada’s New Retail Payment Regulations: Registration and Compliance
    • Summary: This article explores Canada's Retail Payment Activities Framework, impacting PSPs in 2024. It discusses compliance, exemptions, and its effect on the fintech sector.
    • Published: Nov 16, 2023
    • Read more
  2. Preparing for Retail Payment Act Changes
    • Summary: Discusses the final regulations under the Retail Payment Activities Act in Canada, expected to be published in the Canada Gazette II, and the significant changes and preparations in retail payments supervision.
    • Read more
  3. Regulatory Consultation (Feedback by March 28, 2023): Retail Payment Activities Act (RPAA)
    • Summary: Covers the Department of Finance Canada’s proposed regulations on the RPAA, published for public comment, and the importance of the public comment period.
    • Read more
  4. McCarthy Tetrault: Fintech Regulatory Developments: 2021 Year in Review
    • Summary: Discusses the introduction and enactment of the Retail Payment Activities Act (RPAA) in 2021, including requirements for payment service providers in Canada.
    • Read more

NCFA Jan 2018 resize - Final Retail Payment Regulations Released Paving Way For ImplementationThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - Final Retail Payment Regulations Released Paving Way For ImplementationFF Logo 400 v3 - Final Retail Payment Regulations Released Paving Way For Implementationcommunity social impact - Final Retail Payment Regulations Released Paving Way For Implementation

Support NCFA by Following us on Twitter!







NCFA Sign up for our newsletter - Final Retail Payment Regulations Released Paving Way For Implementation




 

Leave a Reply

Your email address will not be published. Required fields are marked *

four − 4 =