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Growth Potential RPAA and Canada's new
retail payments landscape
With a BCP Loan artha Rhine, director, compliance as a ser-
vice at Consulting Resource Group, noti-
fied us of a series she has written to serve
M as a guide to Canada's Retail Payments
Activities Act (RPAA), which is expected to come into
effect soon.

Part 1 of the series covers how this new regulation will
impact Payment Service Providers (PSPs) operating in
Canada, the Bank of Canada's role in supervising them
and the path ahead, Rhine stated.

"PSPs that perform one of the following payment
functions in Canada (in a manner that is not incidental to
another service or business activity) may be impacted,"
she wrote. The functions include providing and
maintaining a payment account; holding funds until
the end user withdraws or transfers funds; initiating
an electronic funds transfer (EFT) as requested by an
end user; authorizing an electronic funds transfer
or transmitting receiving or facilitating instructions
about an electronic funds transfer (EFT); and providing
clearing or settlement services.

The first article in the series can be found on the
Association of Payments Professionals website, https://
tinyurl.com/2z3rpaw5, Rhine pointed out, adding that
more information and updates are available at the
Bank of Canada's website, https://tinyurl.com/mvufb25s.
Furthermore, she noted, the Association of Payment
Professionals will be hosting a webinar on this topic
later this year.

Rhine described Consulting Resource Group as a
"network of payments and M&A leaders, as well as a
BOCA core team of top-tier management consultants based
CAPITAL in Latin America." The firm's leaders, she continued,
"have over 20 years of experience in their respective
PARTNERS areas and specialize in card compliance, fee reduction,
SMB product acceleration, and cross-border payments,"
primarily providing consulting services to corporate,
Get a loan from $100,000 to venture capital and private equity firms, as well as
subcontractor talent to independent consultants and
$5,000,000 for your ISO today boutique firms.

Will the RPAA impact your business?
Do you do business in Canada? If so, what challenges
Call Now: 844-531-4957 have you faced and what skills did you master to
bocacapitalpartners.com succeed in that market? And how do you anticipate the
RPAA will affect your business operations? Share your
experiences with us at greensheet@greensheet.com.

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