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Continue reading →: RPAA Safeguarding Requirements: Protecting End-User Funds for Payment Service Providers
Canada’s Retail Payment Activities Act (RPAA) introduces a supervisory framework for Payment Service Providers (PSPs) operating in Canada. One of the most important obligations under the RPAA is the requirement to safeguard end-user funds. The purpose of these safeguards is straightforward: if a PSP experiences financial distress or operational failure,…
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Continue reading →: Do I Need to Register in Canada as a Payment Service Provider Under the RPAA?Canada’s Retail Payment Activities Act (RPAA) establishes a national regulatory framework for Payment Service Providers (PSPs). Businesses that perform certain payment functions involving electronic funds transfers must register with the Bank of Canada before offering those services to Canadian end users. For fintech startups, digital wallets, marketplaces, payment platforms, and…
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Continue reading →: Operational Risk and Incident Response Frameworks Under Canada’s RPAACanada’s Retail Payment Activities Act (RPAA) establishes a framework for Payment Service Providers (PSPs) to manage operational risks, overseen by the Bank of Canada. Key requirements include developing an Operational Risk and Incident Response Framework (ORIRF), conducting independent reviews, and ensuring incident reporting and compliance to safeguard payment services and…
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Continue reading →: Competing with Messaging Apps in Money ServicesWhat if the biggest threat to your money service business isn’t another fintech — but a chat app? From WhatsApp to Telegram and Signal, messaging platforms are quietly transforming into payment gateways. With built-in trust, global reach, and seamless interfaces, they could redefine how money moves across borders. At Walker…
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Continue reading →: GENIUS Act Signed: What the U.S. Stablecoin Law Means for Startup MSBsOn July 19, 2025, President Trump signed the GENIUS Act into law, establishing the first comprehensive federal framework for U.S. stablecoins. For startup MSBs (Money Services Businesses), the law brings long-sought regulatory clarity—but also new compliance obligations that must be considered from day one. This article offers a legal-first breakdown…
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Continue reading →: Understanding Bill C-2 (2025): Compliance for Money Services Businesses in Canada
The Canadian federal government introduced Bill C‑2, also known as the Strong Borders Act, in June 2025. While the bill is currently at its first reading in the House of Commons, it sends a clear signal: the government intends to significantly strengthen Canada’s approach to anti-money laundering (AML) enforcement—especially for…
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Continue reading →: Elon Musk and Trump’s Influence on Dogecoin GrowthThe cryptocurrency landscape is continuously shaped by evolving government policies and influential partnerships. President Trump has two significant developments—a proposed 10% cap on credit card interest rates and a high-profile endorsement of Dogecoin in partnership with Elon Musk—have the potential to significantly impact startup crypto money service businesses (MSBs) in…
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Continue reading →: Upcoming Changes in Canada’s Payment Processing IndustryThe payment processing industry in Canada is about to undergo significant changes with the updated Code of Conduct for the Payment Card Industry, set to roll out on October 30, 2024, and some provisions extending into 2025. These revisions are designed to improve transparency and fairness for merchants, ensuring they…
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Continue reading →: What Triggers a Suspicious Activity Report (SAR)? A Legal Guide for MSBsUnderstand when MSBs must file a SAR under FinCEN or FINTRAC rules. Learn common suspicious activity triggers and build proactive AML readiness.
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Continue reading →: TD Bank Fined $2.1 Billion for Compliance Failures: A Wake-up Call for MSBsProactive Compliance for Start-Up MSBs: Why Checking the Boxes Isn’t Enough For start-up money service businesses (MSBs), it’s tempting to approach compliance as a checklist task. Many believe that if they follow the regulations and implement basic anti-money laundering (AML) protocols, they’re in the clear. However, the TD Bank case…
Nancy Walker
Welcome to Walker Guidance! Your trusted resource for expert advice on compliance and legal matters tailored to Fintech companies, MSBs, and payment service providers. Here, we break down complex regulatory requirements, contracts, and governance strategies into actionable solutions to help your business thrive. Let’s work together to ensure you stay compliant, build trust, and drive sustainable growth in a rapidly evolving landscape.
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