{
 "jurisdiction_id": "CA-BC",
 "jurisdiction": "Canada – British Columbia",
 "url": "https://payments.gi/jurisdictions/canada-british-columbia/",
 "generator": "render_jid v13.3.0",
 "date_modified": "2026-08-11",
 "schema_version": "world-payments-v1",
 "counts": {
  "modules": 14,
  "sourced_findings": 74,
  "source_register": 138
 },
 "modules": [
  {
   "code": "W1a",
   "name": "Licensing, Authorisation & Market Access",
   "confidence": "Confirmed",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w1a-licensing-authorisation-market-access",
   "standing_position": "Canada's federal payments-regulatory perimeter is anchored by the RPAA, fully in force since 2025-09-08 with Bank of Canada supervision of registered PSPs, plus a newly enacted (not yet in force) Stablecoin Act naming the Bank of Canada as stablecoin-issuer supervisor. No BC-specific provincial payments statute displaces this federal framework.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA)",
     "source": "https://fintrac-canafe.canada.ca/msb-esm/msb-eng",
     "source_url": "https://fintrac-canafe.canada.ca/msb-esm/msb-eng",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Retail Payment Activities Act (RPAA) / Retail Payment Activities Regulations (RPAR)",
     "source": "https://www.bankofcanada.ca/regulatory-oversight/retail-payments/",
     "source_url": "https://www.bankofcanada.ca/regulatory-oversight/retail-payments/",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Provincial MSB regulatory regime (BCFSA)",
     "source": "https://www2.gov.bc.ca/gov/content/justice/anti-money-laundering/quick-glance-government-actions",
     "source_url": "https://www.bankofcanada.ca/regulatory-oversight/retail-payments/",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Financial Services Authority Act (BC)",
     "source": "https://www.bcbudget.gov.bc.ca/2024/sp/pdf/agency/bcfsa.pdf",
     "source_url": "https://www.bankofcanada.ca/regulatory-oversight/retail-payments/",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "RPAA s.4 exclusions",
     "source": "https://www.bankofcanada.ca/core-functions/retail-payments-supervision/supervisory-framework-registration/",
     "source_url": "https://www.bankofcanada.ca/regulatory-oversight/retail-payments/",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Bill C-12 (Strengthening Canada's Immigration System and Borders Act)",
     "source": "https://www.blg.com/en/insights/2026/04/preparing-for-universal-enrolment-higher-penalties-and-fintrac-enforcement",
     "source_url": "https://www.bankofcanada.ca/regulatory-oversight/retail-payments/",
     "source_tier": "2",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W1b",
   "name": "Conduct, Safeguarding & Financial Promotions",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w1b-conduct-safeguarding-financial-promotions",
   "standing_position": "Conduct and safeguarding for BC-touching payment activity is set primarily at the federal level via the RPAA's end-user fund safeguarding framework (in force since September 8, 2025) and the FCAC-overseen Code of Conduct for the Credit and Debit Card Industry, layered with BC's own Business Practices and Consumer Protection Act (BPCPA) enforced by Consumer Protection BC. No BC-specific surcharge ban exists (unlike Quebec).",
   "findings": [
    {
     "finding": null,
     "instrument_type": "RPAA s.17 / RPAR safeguarding requirements",
     "source": "https://www.bankofcanada.ca/wp-content/uploads/2024/02/operational-risk-and-incident-response.pdf",
     "source_url": "https://www.bankofcanada.ca/wp-content/uploads/2025/02/Operational-risk-and-incident-response-At-a-glance.pdf",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Business Practices and Consumer Protection Act (BPCPA)",
     "source": "https://www.consumerprotectionbc.ca/",
     "source_url": "https://ebizcharge.com/blog/credit-card-surcharges-in-canada-a-legal-guide/",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Code of Conduct for the Credit and Debit Card Industry in Canada",
     "source": "https://www.visa.ca/en_CA/support/small-business/interchange.html",
     "source_url": "https://ebizcharge.com/blog/credit-card-surcharges-in-canada-a-legal-guide/",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Provincial consumer protection law (surcharge disclosure)",
     "source": "https://ebizcharge.com/blog/credit-card-surcharges-in-canada-a-legal-guide/",
     "source_url": "https://ebizcharge.com/blog/credit-card-surcharges-in-canada-a-legal-guide/",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Interac surcharge cap policy",
     "source": "https://docs.payfacto.com/payfacto-knowledge/canada-doc-center/general-information/card-brand-network-fee-updates",
     "source_url": "https://ebizcharge.com/blog/credit-card-surcharges-in-canada-a-legal-guide/",
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W2",
   "name": "Stablecoins & Digital Money",
   "confidence": "Confirmed",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w2-stablecoins-digital-money",
   "standing_position": "Canada's first comprehensive stablecoin framework, the Stablecoin Act (via Bill C-15), received Royal Assent March 26, 2026, designating the Bank of Canada as federal regulator/supervisor of fiat-referenced stablecoin issuers serving Canadians including BC residents; the Act's operative provisions are NOT YET IN FORCE pending Governor-in-Council order and supporting regulations, with full regulatory force expected in 2027. Prior to this there was no comprehensive federal stablecoin issuance regime; provincial securities regulators (BCSC as BC's CSA member) retain jurisdiction over stablecoin exchange/trading platforms.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Stablecoin Act",
     "source": "https://www.canada.ca/en/department-finance/programs/financial-sector-policy/canadas-stablecoin-framework.html",
     "source_url": "https://www.canada.ca/en/department-finance/programs/financial-sector-policy/canadas-stablecoin-framework.html",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Stablecoin Act",
     "source": "https://www.lexology.com/library/detail.aspx?g=a5ff681d-f34a-46d2-b36b-513361be5a63",
     "source_url": "https://coinlaw.io/canada-stablecoin-rules-2026-transparency-trust/",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Stablecoin Act - issuer requirements",
     "source": "https://www.osler.com/en/insights/updates/canada-releases-draft-framework-for-stablecoin-regulation-2/",
     "source_url": "https://coinlaw.io/canada-stablecoin-rules-2026-transparency-trust/",
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "OSFI crypto-asset exposure guideline / provincial securities law",
     "source": "https://cdhowe.org/publication/the-window-is-closing-how-canada-can-shape-the-future-of-stablecoins-and-digital-payments/",
     "source_url": "https://coinlaw.io/canada-stablecoin-rules-2026-transparency-trust/",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "CBDC policy position",
     "source": "https://coinlaw.io/canada-stablecoin-rules-2026-transparency-trust/",
     "source_url": "https://coinlaw.io/canada-stablecoin-rules-2026-transparency-trust/",
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W3",
   "name": "Operational Resilience & Critical Infrastructure",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w3-operational-resilience-critical-infrastructure",
   "standing_position": "Operational resilience for BC-serving PSPs is governed federally through the RPAA's operational risk management and incident response framework (in force since September 8, 2025), with a 48-hour material-incident notification duty to the Bank of Canada and mandatory annual reporting. Payments Canada's Lynx large-value system is designated systemically important, underpinning settlement resilience nationally including BC.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "RPAA s.17 Operational Risk and Incident Response Guideline",
     "source": "https://www.bankofcanada.ca/wp-content/uploads/2025/02/Operational-risk-and-incident-response-At-a-glance.pdf",
     "source_url": "https://www.bankofcanada.ca/2026/06/reminder-psp-reporting-obligations-under-rpaa/",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "RPAA incident notification requirement",
     "source": "https://www.bankofcanada.ca/2026/06/reminder-psp-reporting-obligations-under-rpaa/",
     "source_url": "https://www.mordorintelligence.com/industry-reports/canada-payments-market",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "RPAA annual reporting requirement",
     "source": "https://www.blakes.com/insights/bank-of-canada-outlines-annual-reporting-requirements-for-registered-psps-under-the-retail-payment-a/",
     "source_url": "https://www.mordorintelligence.com/industry-reports/canada-payments-market",
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Systemically important payment system designation",
     "source": "https://www.mordorintelligence.com/industry-reports/canada-payments-market",
     "source_url": "https://www.mordorintelligence.com/industry-reports/canada-payments-market",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Third-party service provider risk management",
     "source": "https://www.payments.ca/towards-safer-payments-payments-canadas-key-points-response-bank-canadas-consultation",
     "source_url": "https://www.mordorintelligence.com/industry-reports/canada-payments-market",
     "source_tier": "2",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W4",
   "name": "Scheme & Network Compliance",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w4-scheme-network-compliance",
   "standing_position": "Card-scheme compliance in BC follows the same national voluntary/regulatory mix as the rest of Canada: FCAC-overseen Code of Conduct for the Credit and Debit Card Industry, a Visa/Mastercard voluntary small-merchant interchange reduction (weighted average ~0.95% for small merchants, ~1.40% domestic consumer average), and post-2022 credit card surcharging permitted outside Quebec following the Visa/Mastercard/banks class-action settlement.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Voluntary interchange reduction agreement",
     "source": "https://www.mordorintelligence.com/industry-reports/canada-payment-gateway-market",
     "source_url": "https://www.mordorintelligence.com/industry-reports/canada-payment-gateway-market",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Code of Conduct for the Credit and Debit Card Industry (FCAC)",
     "source": "https://www.visa.ca/en_CA/support/small-business/interchange.html",
     "source_url": "https://docs.payfacto.com/payfacto-knowledge/canada-doc-center/general-information/card-brand-network-fee-updates",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Interchange class-action settlement",
     "source": "https://lucidpayments.ca/payment-terminals/credit-card-surcharges-canada/",
     "source_url": "https://docs.payfacto.com/payfacto-knowledge/canada-doc-center/general-information/card-brand-network-fee-updates",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Interac Debit Switch Fee schedule",
     "source": "https://docs.payfacto.com/payfacto-knowledge/canada-doc-center/general-information/card-brand-network-fee-updates",
     "source_url": "https://docs.payfacto.com/payfacto-knowledge/canada-doc-center/general-information/card-brand-network-fee-updates",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Mastercard scheme surcharge rules",
     "source": "https://www.mastercard.com/ca/en/business/support/merchant-surcharge-rules.html",
     "source_url": "https://docs.payfacto.com/payfacto-knowledge/canada-doc-center/general-information/card-brand-network-fee-updates",
     "source_tier": "2",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W5",
   "name": "Payment Corridor Dynamics",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w5-payment-corridor-dynamics",
   "standing_position": "BC payment corridors ride the same national rails as the rest of Canada: Interac e-Transfer as the dominant real-time A2A rail today, with the Bank of Canada-supervised, Payments Canada-operated Real-Time Rail (RTR) rolling out in phases from Q4 2026 (By-law/Rules in force Aug 24, 2026; full participant access not expected until 2027), and cross-border remittance corridors (notably Canada-India, Canada-US, Canada-Europe) growing in volume and increasingly digitised.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Real-Time Rail (RTR)",
     "source": "https://thelogic.co/news/exclusive/payments-canada-rtr-phased-rollout/",
     "source_url": "https://thelogic.co/news/exclusive/payments-canada-rtr-phased-rollout/",
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Real-Time Rail (RTR) - ISO 20022",
     "source": "https://www.payments.ca/systems-services/payment-systems/real-time-rail-payment-system/about-real-time-rail",
     "source_url": "https://www.thunes.com/insights/trends/canada-the-next-real-time-payments-powerhouse/",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Cross-border corridor structure",
     "source": "https://www.lightspark.com/knowledge/real-time-payments-canada",
     "source_url": "https://www.thunes.com/insights/trends/canada-the-next-real-time-payments-powerhouse/",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Remittance corridor volumes",
     "source": "https://www.thunes.com/insights/trends/canada-the-next-real-time-payments-powerhouse/",
     "source_url": "https://www.thunes.com/insights/trends/canada-the-next-real-time-payments-powerhouse/",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Interac e-Transfer participation criteria",
     "source": "https://betakit.com/canadas-fintech-industry-enters-new-era-as-bank-of-canada-taps-first-payment-service-providers/",
     "source_url": "https://www.thunes.com/insights/trends/canada-the-next-real-time-payments-powerhouse/",
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W6",
   "name": "Industry Structure & Commercial Dynamics",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w6-industry-structure-commercial-dynamics",
   "standing_position": "Canada's payments industry, including BC's Vancouver-anchored fintech cluster, remains moderately concentrated around Interac, Visa, Mastercard and Shopify, with a Big Six banking oligopoly (~93% of banking assets), while global consolidation (Global Payments-Worldpay, Fiserv-Global Payments Issuer Solutions) and BC-headquartered fintech activity (Nuvei's take-private, Vancouver acquirer/processor deals) reshape the commercial landscape.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Market concentration",
     "source": "https://www.mordorintelligence.com/industry-reports/canada-payments-market",
     "source_url": "https://www.mordorintelligence.com/industry-reports/canada-payments-market",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Banking sector concentration",
     "source": "https://www.openbankingtracker.com/glossary/rtr-canada",
     "source_url": "https://www.openbankingtracker.com/glossary/rtr-canada",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Fintech ownership change",
     "source": "https://www.swipesum.com/insights/top-10-payment-processing-canada-solutions-for-small-businesses",
     "source_url": "https://www.openbankingtracker.com/glossary/rtr-canada",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Global processor consolidation",
     "source": "https://www.mordorintelligence.com/industry-reports/canada-payment-gateway-market",
     "source_url": "https://www.openbankingtracker.com/glossary/rtr-canada",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "BC fintech venture ecosystem",
     "source": "https://www.openvc.app/investor-lists/venture-capital-firms-investors-vancouver",
     "source_url": "https://www.openbankingtracker.com/glossary/rtr-canada",
     "source_tier": "4",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Regional market distribution",
     "source": "https://www.mordorintelligence.com/industry-reports/canada-payment-gateway-market",
     "source_url": "https://www.openbankingtracker.com/glossary/rtr-canada",
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W7",
   "name": "Legal & Litigation",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w7-legal-litigation",
   "standing_position": "BC's most consequential payments-adjacent legal developments are the Cullen Commission's 101-recommendation final report on money laundering (real estate, casinos, MSBs), the BC Court of Appeal's Zheng v. Bank of China ruling (2023 BCCA 43) permitting a duty-to-warn claim against banks on APP scams to proceed to trial on a genuine-issue-for-trial basis (a procedural finding, not a merits liability determination, and in tension with the UK Supreme Court's Philipp v. Barclays Bank decision), and record-setting FINTRAC enforcement against a Vancouver-headquartered crypto MSB (Xeltox/Cryptomus).",
   "findings": [
    {
     "finding": null,
     "instrument_type": "BC Court of Appeal ruling",
     "source": "https://www.privatelenderassociation.ca/canada-bank-fraud-app-scams-uk-reimbursement-rules-and-what-needs-to-change/",
     "source_url": "https://www2.gov.bc.ca/gov/content/justice/anti-money-laundering/quick-glance-government-actions",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Cullen Commission Final Report",
     "source": "https://www2.gov.bc.ca/gov/content/justice/anti-money-laundering/quick-glance-government-actions",
     "source_url": "https://www2.gov.bc.ca/gov/content/justice/anti-money-laundering/quick-glance-government-actions",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "FINTRAC administrative monetary penalty",
     "source": "https://amlnetwork.org/aml-news/canada-revokes-23-crypto-msbs-in-major-fintrac-anti-money-laundering-crackdown/",
     "source_url": "https://www2.gov.bc.ca/gov/content/justice/anti-money-laundering/quick-glance-government-actions",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Cullen Commission - virtual asset service provider recommendation",
     "source": "https://www.mccarthy.ca/en/insights/blogs/techlex/cullen-report-sets-out-recommendations-address-money-laundering-british-columbia",
     "source_url": "https://www2.gov.bc.ca/gov/content/justice/anti-money-laundering/quick-glance-government-actions",
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Interchange class-action settlement",
     "source": "https://lucidpayments.ca/payment-terminals/credit-card-surcharges-canada/",
     "source_url": "https://www2.gov.bc.ca/gov/content/justice/anti-money-laundering/quick-glance-government-actions",
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W8",
   "name": "Merchant Acquiring & Risk",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w8-merchant-acquiring-risk",
   "standing_position": "BC merchants access acquiring through the same national processors (Moneris, TD Merchant Services, Global Payments, Elavon, Nuvei, Worldline/Bambora, Stripe/Square/Helcim for SMB), operate under card-scheme surcharge/disclosure rules, and BC's cannabis retail sector continues to experience acute high-risk de-risking from major banks, relying on provincial credit unions for basic transaction accounts.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Acquiring market structure",
     "source": "https://www.swipesum.com/insights/top-10-payment-processing-canada-solutions-for-small-businesses",
     "source_url": "https://www.cbc.ca/news/canada/british-columbia/cannabis-banks-credit-unions-1.6205932",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "High-risk merchant de-risking",
     "source": "https://www.cbc.ca/news/canada/british-columbia/cannabis-banks-credit-unions-1.6205932",
     "source_url": "https://www.swipesum.com/insights/top-10-payment-processing-canada-solutions-for-small-businesses",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "High-risk merchant banking access",
     "source": "https://techpos.ca/cannabis-banking-in-canada/",
     "source_url": "https://www.swipesum.com/insights/top-10-payment-processing-canada-solutions-for-small-businesses",
     "source_tier": "4",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Acquiring/processing M&A",
     "source": "https://www.privsource.com/acquisitions/payments-fintech/canada",
     "source_url": "https://www.swipesum.com/insights/top-10-payment-processing-canada-solutions-for-small-businesses",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Merchant surcharge disclosure obligations",
     "source": "https://ebizcharge.com/blog/credit-card-surcharges-in-canada-a-legal-guide/",
     "source_url": "https://www.swipesum.com/insights/top-10-payment-processing-canada-solutions-for-small-businesses",
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W9",
   "name": "Product Innovation & Market Development",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w9-product-innovation-market-development",
   "standing_position": "BC benefits from Canada's parallel national modernization push: the Consumer-Driven Banking Act (open banking, Royal Assent March 26, 2026) launching phased read-access in 2026 and write-access mid-2027, and the Real-Time Rail instant payments infrastructure rolling out from Q4 2026, alongside rising mobile-wallet adoption and early CAD stablecoin experimentation.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Consumer-Driven Banking Act (CDBA)",
     "source": "https://www.dlapiper.com/en-pl/insights/publications/2026/04/the-new-consumer-driven-banking-act-explained",
     "source_url": "https://www.dlapiper.com/en-pl/insights/publications/2026/04/the-new-consumer-driven-banking-act-explained",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Open banking phased rollout",
     "source": "https://www.openbankingtracker.com/regulation/canada-open-banking",
     "source_url": "https://www.thunes.com/insights/trends/canada-the-next-real-time-payments-powerhouse/",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Mobile wallet adoption",
     "source": "https://www.thunes.com/insights/trends/canada-the-next-real-time-payments-powerhouse/",
     "source_url": "https://www.thunes.com/insights/trends/canada-the-next-real-time-payments-powerhouse/",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "CAD stablecoin pilots",
     "source": "https://www.thunes.com/insights/trends/canada-the-next-real-time-payments-powerhouse/",
     "source_url": "https://www.thunes.com/insights/trends/canada-the-next-real-time-payments-powerhouse/",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "CBDC policy shelving",
     "source": "https://coinlaw.io/canada-stablecoin-rules-2026-transparency-trust/",
     "source_url": "https://www.thunes.com/insights/trends/canada-the-next-real-time-payments-powerhouse/",
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W10",
   "name": "Consumer Protection & APP Fraud",
   "confidence": "High",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w10-consumer-protection-app-fraud",
   "standing_position": "BC consumers rely on a layered federal/provincial/voluntary consumer-protection stack: BPCPA and Consumer Protection BC provincially; the FCAC-monitored Canadian Code of Practice for Consumer Debit Card Services and new Bill C-15 Bank Act fraud-prevention duties federally; and no binding APP-fraud reimbursement mandate yet, though the federal Bank Act review (through June 30, 2026) and a National Anti-Fraud Strategy consultation are actively considering one, against a backdrop of the BC Court of Appeal's Zheng v. Bank of China ruling.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Bank Act amendments (Bill C-15) / Financial Consumer Protection Framework Regulations",
     "source": "https://gazette.gc.ca/rp-pr/p1/2026/2026-06-27/html/reg2-eng.html",
     "source_url": "https://gazette.gc.ca/rp-pr/p1/2026/2026-06-27/html/reg2-eng.html",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Canadian Code of Practice for Consumer Debit Card Services",
     "source": "https://legalclarity.org/canadian-rights-for-unauthorized-debit-and-e-transfer-fraud/",
     "source_url": "https://www.canada.ca/en/department-finance/news/2026/03/government-of-canada-launches-consultations-on-first-ever-national-anti-fraud-strategy.html",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Bank Act review / BC Court of Appeal precedent",
     "source": "https://www.privatelenderassociation.ca/canada-bank-fraud-app-scams-uk-reimbursement-rules-and-what-needs-to-change/",
     "source_url": "https://www.canada.ca/en/department-finance/news/2026/03/government-of-canada-launches-consultations-on-first-ever-national-anti-fraud-strategy.html",
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "National Anti-Fraud Strategy consultation",
     "source": "https://www.canada.ca/en/department-finance/news/2026/03/government-of-canada-launches-consultations-on-first-ever-national-anti-fraud-strategy.html",
     "source_url": "https://www.canada.ca/en/department-finance/news/2026/03/government-of-canada-launches-consultations-on-first-ever-national-anti-fraud-strategy.html",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Fraud statistics",
     "source": "https://www.canada.ca/en/department-finance/news/2026/06/government-pre-publishes-regulations-to-prevent-fraud-and-facilitate-the-next-phase-of-consumer-driven-banking.html",
     "source_url": "https://www.canada.ca/en/department-finance/news/2026/03/government-of-canada-launches-consultations-on-first-ever-national-anti-fraud-strategy.html",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Proposed BC credit freeze legislation",
     "source": "https://www.privatelenderassociation.ca/canada-bank-fraud-app-scams-uk-reimbursement-rules-and-what-needs-to-change/",
     "source_url": "https://www.canada.ca/en/department-finance/news/2026/03/government-of-canada-launches-consultations-on-first-ever-national-anti-fraud-strategy.html",
     "source_tier": "4",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W11",
   "name": "AML/CFT & Financial Crime",
   "confidence": "Confirmed",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w11-aml-cft-financial-crime",
   "standing_position": "sentinel.position: BC's AML/CFT posture combines federal FINTRAC oversight of PCMLTFA reporting entities (recently overhauled via Bill C-12's higher AMP ceilings and universal enrolment) with a BC-specific provincial layer driven by the Cullen Commission, including BCFSA's new AML mandate over the MSB segment and the incoming Gaming Control Act / Mortgage Services Act.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "sentinel.KYC identity verification baseline",
     "source": "https://facephi.com/observatory/en/open-banking-canada-real-time-payments-2026/",
     "source_url": "https://amlnetwork.org/aml-news/canada-revokes-23-crypto-msbs-in-major-fintrac-anti-money-laundering-crackdown/",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": "BC operates under Canada's federal PCMLTFA/FINTRAC AML/CFT regime plus provincial overlays: the Land Owner Transparency Registry (2020), BC Lottery Corp/Gaming Policy and Enforcement Branch casino AML supervision, and BC Securities Commission crypto-fraud enforcement. Federal legal-professional privilege exempts lawyers and notaries from reporting obligations. Canada's joint FATF-APG effectiveness Mutual Evaluation was adopted June 2026, publishing September 2026.",
     "instrument_type": "assessment",
     "source": "FIM (sentinel.gi) per-JID baseline profile — Canada — British Columbia",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Gap: sourcing-thinness",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-003)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    },
    {
     "finding": "Enforcement: FINTRAC — 35 unregistered/non-compliant cryptocurrency money-services businesses (23 then 12 firms)",
     "instrument_type": "enforcement_action",
     "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-001)",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": "Sanctions: OFAC listing",
     "instrument_type": "sanctions_change",
     "source": "FIM (sentinel.gi) sanctions_change_register (issue FIM-BASE-SANC-002)",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": "Enforcement: OFAC — Two Canada-based companies and one individual supplying fentanyl-adjacent chemicals",
     "instrument_type": "enforcement_action",
     "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-003)",
     "source_url": null,
     "source_tier": "2",
     "retrieved_at": null
    },
    {
     "finding": "Gap: legal-gap",
     "instrument_type": "gap",
     "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-001)",
     "source_url": null,
     "source_tier": null,
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W12",
   "name": "Correspondent Banking, Settlement & Access",
   "confidence": "High",
   "moved_this_cycle": false,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w12-correspondent-banking-settlement-access",
   "standing_position": "BC settlement access follows national Bank of Canada-overseen infrastructure (Lynx, RTR), with the Canadian Payments Act amendments (effective September 29, 2025) newly opening Payments Canada membership to non-bank PSPs and credit unions; correspondent-banking-style de-risking pressure is most visible in BC's cannabis sector, where Big Six banks have withdrawn services, pushing merchants to provincial credit unions.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "Canadian Payments Act amendments",
     "source": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/canada/",
     "source_url": "https://www.globallegalinsights.com/practice-areas/banking-and-finance-laws-and-regulations/canada/",
     "source_tier": "1",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "Systemically important settlement infrastructure",
     "source": "https://www.mordorintelligence.com/industry-reports/canada-payments-market",
     "source_url": "https://www.cbc.ca/news/canada/british-columbia/cannabis-banks-credit-unions-1.6205932",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "De-risking / account access",
     "source": "https://www.cbc.ca/news/canada/british-columbia/cannabis-banks-credit-unions-1.6205932",
     "source_url": "https://www.cbc.ca/news/canada/british-columbia/cannabis-banks-credit-unions-1.6205932",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "RTR settlement agent role",
     "source": "https://www.lightspark.com/knowledge/real-time-payments-canada",
     "source_url": "https://www.cbc.ca/news/canada/british-columbia/cannabis-banks-credit-unions-1.6205932",
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  },
  {
   "code": "W13",
   "name": "Commercial Intelligence & Fintech",
   "confidence": "Assessed",
   "moved_this_cycle": true,
   "url": "https://payments.gi/jurisdictions/canada-british-columbia/#w13-commercial-intelligence-fintech",
   "standing_position": "Trailing-12-month commercial activity touching BC payments centres on Vancouver-headquartered fintechs: PayByPhone's sale from Corpay to Lightyear Capital, E-xact Transactions' acquisition by Paynt, and Fiserv's completion of its Payfare acquisition via a BC plan of arrangement, alongside national-level consolidation (Nuvei take-private, Robinhood-WonderFi) forming the broader Canadian backdrop.",
   "findings": [
    {
     "finding": null,
     "instrument_type": "commercial_event: acquisition",
     "source": "https://techcouver.com/2026/02/05/vancouver-fintech-paybyphone-acquired-lightyear-capital/",
     "source_url": "https://techcouver.com/2026/02/05/vancouver-fintech-paybyphone-acquired-lightyear-capital/",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event: acquisition",
     "source": "https://www.privsource.com/acquisitions/payments-fintech/canada",
     "source_url": "https://www.privsource.com/acquisitions/payments-fintech/canada",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event: acquisition",
     "source": "https://www.privsource.com/acquisitions/payments-fintech/canada",
     "source_url": "https://www.swipesum.com/insights/top-10-payment-processing-canada-solutions-for-small-businesses",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event: take-private",
     "source": "https://www.swipesum.com/insights/top-10-payment-processing-canada-solutions-for-small-businesses",
     "source_url": "https://www.swipesum.com/insights/top-10-payment-processing-canada-solutions-for-small-businesses",
     "source_tier": "3",
     "retrieved_at": null
    },
    {
     "finding": null,
     "instrument_type": "commercial_event: acquisition",
     "source": "https://www.privsource.com/acquisitions/payments-fintech/canada",
     "source_url": "https://www.swipesum.com/insights/top-10-payment-processing-canada-solutions-for-small-businesses",
     "source_tier": "3",
     "retrieved_at": null
    }
   ]
  }
 ]
}