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The Retail Payments Advisory Committee is gathering expertise on a preliminary approach to fees

Bank of Canada | Nov 9, 2021

Retail payments act supervisory fees - The Retail Payments Advisory Committee is gathering expertise on a preliminary approach to fees

The Retail Payments Advisory Committee (RPAC) will meet in November to discuss preliminary approaches to fees. Under the Retail Payment Activities Act (RPAA), the Bank is required to recoup costs incurred to carry out its mandate of supervising payment service providers. Stakeholders are encouraged to read the discussion material and send us your feedback directly by email. A summary of what we heard will be published to the Bank’s website once our analysis is completed.

See:  Canada’s Library of Parliament Report: A Comparison of Open Banking Recommendations

RPAC is a forum set up by the Bank to gather industry expertise about the retail payment services landscape. RPAC provides advice and expertise on specific topics as the Bank designs and operationalizes its Retail Payments Supervisory Framework. The Bank also solicits information from industry and stakeholders that are not members of RPAC.

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Download the RAC Approach to Fees (31 page PDF) discussion document --> here

 


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