The Bank of Canada has just released a list of individuals and entities that have applied for payment service provider (PSP) registration under the Retail Payment Activities Act (RPAA). Bank of Canada is currently processing the applications of the individuals and entities on the list, hence, this list does not indicate any approvals from the Bank of Canada — those will be announced in September 2025. This list serves as a valuable resource for conducting due diligence during onboarding or ongoing monitoring of PSPs.
The RPAA includes a transition period for individuals and entities to submit their registration application. During this period, Bank of Canada will update the list regularly to publish the contact information provided by applicants in their respective applications.
