Understanding the Bank of Canada’s Retail Payments Supervision
With the upcoming changes in the Bank of Canada’s Retail Payments Supervision framework, businesses involved in payment processing need to ensure compliance with new regulatory standards. The framework, part of the Retail Payment Activities Act, focuses on enhancing the security and efficiency of payment systems. If your business operates in E-commerce, Financial Services, Healthcare, or Subscription Services, you’ll be directly impacted and must take action to meet these requirements.