WebMay 7, 2024 · The Government of Canada has introduced legislation to regulate FinTech companies that offer payment services in the country. The draft legislation, titled the Retail Payments Activities Act (RPAA) and released as part of Bill C-30, aims to implement the previously announced federal retail payments oversight framework, which was first … WebMay 5, 2024 · The long-awaited draft of An Act Respecting Retail Payment Activities (short title, Retail Payment Activities Act) (the “RPAA”) has been released as part of budget Bill …
One Step Closer to a Regulatory Regime for Payment Service …
WebCONSULTATION PAPER ON THE PROPOSED PAYMENT SERVICES BILL 21 November 2024 Monetary Authority of Singapore 3 1 Preface Background 1.1 The Monetary Authority of Singapore ( ^MAS _) currently regulates various types of payment services under the Payment Systems (Oversight) Act (ap. 222A) (PS(O)A) and the Money- hanging and … WebFeb 27, 2024 · On February 10, 2024, draft regulations (Regulations) to the Retail Payment Activities Act (Act) were released for a 45-day comment period closing on March 28, 2024.The Regulations provide further details and clarifications around the new retail payment supervisory regime for payment service providers (PSP) in Canada, including … free lunch meals
Retail Payment Activities Act
WebMay 19, 2024 · May 19, 2024. Using relatively vague terms to describe what constitutes a regulated PSP this new regulatory regime, called the “Retail Payment Activities Act,” establishes several basic requirements on businesses, domestic and international, that are primarily selling a payment service in Canada to send or receive payments. WebFeb 13, 2024 · On February 10, 2024, the long-awaited draft regulations (Regulations) to the Retail Payment Activities Act (RPAA) were released, detailing the requirements of the RPAA at a more granular level (for an overview of the RPAA requirements, please see our May 2024 Blakes Bulletin: Regulation of Retail Payments in Canada - The Retail Payments … WebNov 17, 2024 · The Retail Payments Activities Act (the “RPAA”) was enacted in June 2024, creating a new regulatory regime for retail payment activities under the supervision of the Bank of Canada (the “BOC”). The introduction of the RPAA is a significant milestone in the Canadian retail payments sector, which had previously been largely unregulated. blue grey and white bathroom accessories