Canada’s FinTech industry enters new era as Bank of Canada taps first payment service providers
[...]The designation means these companies are now subject to new rules and reporting regulations under the Retail Payments Activities Act (RPAA). It also opens the door to accessing payment rails, the infrastructure that allows money transfers, without having to go through banks. Industry leaders say this is a key step toward leveling the playing field for non-banks to compete.[...]
https://betakit.com/canadas-fi....ntech-industry-enter
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