Exhibitor

Be ready for retail payments supervision. We are Canada's central bank. Our main role is to promote the economic and financial welfare of our nation. We are responsible for monetary policy, ensuring the financial system is stable, designing and distributing bank notes, and managing our governments funds. Our newest core function is the responsibility for retail payments supervision. We are here to talk to you about what that means for payment service providers (PSPs) based in the Asia-Pacific region, even if they don't have a physical presence in Canada. Under the Retail Payment Activities Act, the Bank will be responsible for supervising PSPs. The aim is to build confidence in the safety and reliability of their services while protecting end users from specific risks. PSPs that have a place of business in Canada as well as certain payment firms based in other countries will need to register with the Bank.