{ "jurisdiction_id": "CA-NB", "jurisdiction": "Canada – New Brunswick", "url": "https://payments.gi/jurisdictions/canada-new-brunswick/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-11", "schema_version": "world-payments-v1", "counts": { "modules": 14, "sourced_findings": 55, "source_register": 125 }, "modules": [ { "code": "W1a", "name": "Licensing, Authorisation & Market Access", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w1a-licensing-authorisation-market-access", "standing_position": "Payment service providers performing retail payment activities affecting New Brunswick end-users are federally regulated under the RPAA; registration open since Nov 1 2024; final safeguarding guideline published; first annual PSP report (2025 data) due March 31 2026; AMP enforcement up to CAD 10M plus revocation power.", "findings": [ { "finding": null, "instrument_type": "statute", "source": "https://laws-lois.justice.gc.ca/eng/acts/R-7.36/page-1.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "supervisory framework", "source": "https://www.bankofcanada.ca/core-functions/retail-payments-supervision/about-retail-payments-supervision-mandate/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "registration regime", "source": "https://gowlingwlg.com/en/topics/fsxt/retail-payment-activities-act", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "AML registration", "source": "https://fintrac-canafe.canada.ca/msb-esm/msb-eng", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "provincial statute", "source": "https://fcnb.ca/en/personal-finances/credit-unions", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "provincial statute", "source": "https://www2.gnb.ca/content/gnb/en/services/services_renderer.695.Credit_Union_Incorporation.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "regulatory layering", "source": "https://advapay.eu/emoney-and-payment-institution-licensing/money-services-business-registration-in-canada-msb-fmsb/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W1b", "name": "Conduct, Safeguarding & Financial Promotions", "confidence": "Confirmed", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w1b-conduct-safeguarding-financial-promotions", "standing_position": "Bank of Canada published its final safeguarding-of-funds supervisory guideline clarifying PSP fund-protection obligations for nonbank PIs/EMIs serving New Brunswick end-users.", "findings": [ { "finding": null, "instrument_type": "supervisory guideline", "source": "https://www.osler.com/en/expertise/services/financial-services/financial-services-regulatory/retail-payment-activities-act/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "deposit protection scheme", "source": "https://fcnb.ca/en/personal-finances/what-is-a-credit-union", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "conduct/unfair-practices statute", "source": "https://www.torys.com/en/our-latest-thinking/publications/2023/12/proposed-consumer-protection-act-introduced-in-nb", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "conduct guidance", "source": "https://fcnb.ca/en/insurance/insurance-licences", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "high-cost credit regime", "source": "https://www.osler.com/en/insights/updates/incoming-changes-to-consumer-protection-laws-implications-for-financial-service-providers/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W2", "name": "Stablecoins & Digital Money", "confidence": "High", "moved_this_cycle": true, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w2-stablecoins-digital-money", "standing_position": "Canada enacted its first federal stablecoin framework via the Stablecoin Act (Bill C-15), Royal Assent 2026-03-26, designating the Bank of Canada as supervisor of stablecoin issuers serving Canadians including New Brunswick residents. The regime is enacted but not yet in force; implementing regulations are expected to land in 2027.", "findings": [] }, { "code": "W3", "name": "Operational Resilience & Critical Infrastructure", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w3-operational-resilience-critical-infrastructure", "standing_position": "Operational resilience for retail payments in NB (as elsewhere in Canada) is governed federally by the RPAA's risk management and incident response (RMIR) framework administered by the Bank of Canada, which prescribes written risk-management frameworks, incident reporting, and named SWIFT as a prescribed critical entity; Lynx is separately designated a systemically important payment system subject to Bank of Canada risk-management standards for financial market infrastructure.", "findings": [ { "finding": null, "instrument_type": "regulation (RPAA Regulations)", "source": "https://gazette.gc.ca/rp-pr/p2/2023/2023-11-22/html/sor-dors229-eng.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "critical infrastructure designation", "source": "https://gazette.gc.ca/rp-pr/p2/2023/2023-11-22/html/sor-dors229-eng.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "designated FMI", "source": "https://www.payments.ca/systems-services/payment-systems/high-value-payment-system-lynx", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "supervisory guidance", "source": "https://www.bankofcanada.ca/core-functions/retail-payments-supervision/about-retail-payments-supervision-mandate/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "RMIR framework", "source": "https://www.dlapiper.com/en/insights/publications/2024/02/scope-and-requirements-of-the-retail-payment-activities-act-in-canada", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W4", "name": "Scheme & Network Compliance", "confidence": "Assessed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w4-scheme-network-compliance", "standing_position": "Card-scheme compliance in Canada, applicable to NB merchants and acquirers, has been reshaped by the CAD $188 million interchange-fee class-action settlement covering Visa/Mastercard/major issuing banks, which also modified no-surcharge rules to permit capped merchant surcharging for a minimum five-year period; Interac has separately amended its e-Transfer platform rules to admit RPAA-registered and FINTRAC-registered fintech PSPs.", "findings": [ { "finding": null, "instrument_type": "class action settlement", "source": "https://www.creditcardsettlements.ca/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "scheme membership rule change", "source": "https://www.electronicpaymentsinternational.com/features/canada-finally-to-get-real-time-payments-open-banking/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W5", "name": "Payment Corridor Dynamics", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w5-payment-corridor-dynamics", "standing_position": "New Brunswick's payment corridors run through national rails: Lynx for high-value CAD wire (using SWIFT messaging for cross-border legs), the batch-based ACSS for retail EFTs/cheques, and the forthcoming domestic Real-Time Rail (RTR), targeted for Wave 1 launch in late 2026/H1 2027, which will migrate Interac e-Transfer to real-time clearing and settlement. No NB-specific cross-border corridor (e.g. NB-Maine remittance) instrument was identified in this pass; searched but not found -- see absent-field provenance.", "findings": [ { "finding": null, "instrument_type": "high-value payment system", "source": "https://www.payments.ca/systems-services/payment-systems/high-value-payment-system-lynx", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "instant payments programme", "source": "https://www.redcompasslabs.com/insights/canada-instant-payments-era-real-time-rails/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "instant payments programme", "source": "https://www.payments.ca/real-time-rail-where-are-we-now", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "retail payment rail", "source": "https://blog.vopay.com/payment-rails-everything-canadian-businesses-need-to-know/", "source_url": null, "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-new-brunswick/#w6-industry-structure-commercial-dynamics", "standing_position": "New Brunswick's deposit-taking market structure is anchored by a network of small provincially-regulated credit unions (e.g. OMISTA, Beaubear, Blackville) under the NBCUDIC deposit protection scheme, with Atlantic Central providing liquidity management, payments processing and trade-association services across Atlantic Canada credit unions. Nationally, credit union-fintech partnership and consolidation trends (e.g. Meridian's 2026 Payments Canada membership, cross-provincial credit union mergers) are reshaping the smaller-institution segment NB's credit unions sit within.", "findings": [ { "finding": null, "instrument_type": "market structure", "source": "https://fcnb.ca/en/personal-finances/what-is-a-credit-union", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "market participants", "source": "https://fcnb.ca/en/personal-finances/credit-unions", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "membership expansion", "source": "https://www.electronicpaymentsinternational.com/features/canada-finally-to-get-real-time-payments-open-banking/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market structure trend", "source": "https://wowa.ca/credit-unions-canada", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "commercial trend", "source": "https://www.pymnts.com/credit-unions/2026/credit-unions-take-stakes-in-fintechs-to-control-the-roadmap/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W7", "name": "Legal & Litigation", "confidence": "Assessed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w7-legal-litigation", "standing_position": "The dominant payments litigation shaping the Canadian (and thus NB) merchant-acquiring landscape is the long-running Visa/Mastercard/bank interchange-fee class action, settled for CAD $188 million with associated no-surcharge rule modifications; emerging common-law exposure on APP/authorized-push-payment fraud is signalled by the BC Court of Appeal's Zheng v. Bank of China ruling permitting claims against banks that fail to inquire or warn customers about potential scams.", "findings": [ { "finding": null, "instrument_type": "class action settlement", "source": "https://www.creditcardsettlements.ca/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "court ruling", "source": "https://www.privatelenderassociation.ca/canada-bank-fraud-app-scams-uk-reimbursement-rules-and-what-needs-to-change/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W8", "name": "Merchant Acquiring & Risk", "confidence": "Assessed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w8-merchant-acquiring-risk", "standing_position": "Merchant acquiring practice in Canada, applicable to NB merchants, was materially altered by the interchange-fee settlement's surcharge-rule modifications, which require merchants to give acquirers written notice before imposing card surcharges and permit surcharging up to a capped rate for a minimum five-year period.", "findings": [ { "finding": null, "instrument_type": "acquiring/surcharging rule", "source": "https://www.creditcardsettlements.ca/en/faq", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "surcharge cap", "source": "https://www.creditcardsettlements.ca/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W9", "name": "Product Innovation & Market Development", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w9-product-innovation-market-development", "standing_position": "Canada's two flagship product-innovation initiatives -- the Real-Time Rail (RTR) instant-payments infrastructure and the Consumer-Driven Banking (open banking) framework -- both apply nationally to NB. Open banking's Phase 1 (read access) is targeted for 2026 under Bank of Canada supervision, with Phase 2 (write access/payment initiation) targeted for mid-2027 once RTR is operational; CBDC development was shelved in 2024 in favour of these two initiatives plus the stablecoin framework.", "findings": [ { "finding": null, "instrument_type": "statute (Consumer-Driven Banking Act)", "source": "https://www.dlapiper.com/en-us/insights/publications/2026/04/the-new-consumer-driven-banking-act-explained", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "proposed regulations", "source": "https://gazette.gc.ca/rp-pr/p1/2026/2026-06-27/html/reg3-eng.html", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "phased rollout", "source": "https://facephi.com/observatory/en/open-banking-canada-real-time-payments-2026/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "digital currency policy", "source": "https://coinlaw.io/canada-stablecoin-rules-2026-transparency-trust/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "market impact", "source": "https://www.forbes.com/sites/christerholloman/2026/02/09/open-banking-now-launching-in-canada-what-it-means-for-you-and-banks/", "source_url": null, "source_tier": "3", "retrieved_at": null } ] }, { "code": "W10", "name": "Consumer Protection & APP Fraud", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w10-consumer-protection-app-fraud", "standing_position": "NB consumer protection sits within a federal/provincial layering: federally, Bank Act amendments require banks (from July 1, 2027) to obtain explicit consumer consent before enabling EFT capabilities like e-Transfer/wire transfers, alongside a National Anti-Fraud Strategy; provincially, NB's payday-loan regime (Cost of Credit Disclosure and Payday Loans Act) is licensed/enforced by FCNB, and the broader NB Consumer Protection Act (unfair practices, high-cost credit) awaits proclamation.", "findings": [ { "finding": null, "instrument_type": "proposed regulations", "source": "https://www.blakes.com/insights/proposed-regulations-addressing-consumer-targeted-fraud-in-banking-released-for-comment/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "policy/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": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "industry code", "source": "https://legalclarity.org/canadian-rights-for-unauthorized-debit-and-e-transfer-fraud/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "provincial licensing regime", "source": "https://fcnb.ca/en/personal-finances/payday-lenders", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "conduct rules", "source": "https://fcnb.ca/en/personal-finances/payday-lenders/payday-lender-prohibited-practices", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "consumer protection gap analysis", "source": "https://gazette.gc.ca/rp-pr/p1/2026/2026-06-27/html/reg2-eng.html", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W11", "name": "AML/CFT & Financial Crime", "confidence": "High", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w11-aml-cft-financial-crime", "standing_position": "Sentinel.gi payments-context position: Canada's AML/CFT regime for payments applies nationally to any PSP/MSB touching New Brunswick via FINTRAC's PCMLTFA registration and reporting obligations, running in parallel with RPAA registration; the federal government has signalled intensified enforcement posture, including a proposed new Financial Crimes Agency, alongside the National Anti-Fraud Strategy consultation launched March 30, 2026.", "findings": [ { "finding": null, "instrument_type": "sentinel.examination-policy", "source": "https://www.privatelenderassociation.ca/canada-bank-fraud-app-scams-uk-reimbursement-rules-and-what-needs-to-change/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": "New Brunswick reporting entities operate under Canada's single federal AML/CFT regime — the Proceeds of Crime (Money Laundering) and Terrorist Financing Act, supervised exclusively by FINTRAC (no independent provincial AML supervisor). FINTRAC has intensified crypto-sector enforcement (record penalties, mass MSB revocations) in 2025-2026, but structural gaps — DNFBP under-compliance, provincial corporate-registry BO opacity — persist nationally and touch NB directly through its own non-BO-disclosing provincial registry.", "instrument_type": "assessment", "source": "FIM (sentinel.gi) per-JID baseline profile — Canada — New Brunswick", "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 crypto/virtual-currency money services businesses", "instrument_type": "enforcement_action", "source": "FIM (sentinel.gi) enforcement_action_register (issue FIM-BASE-ENF-002)", "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 }, { "finding": "Gap: enforcement-absence", "instrument_type": "gap", "source": "FIM (sentinel.gi) gaps_register_cumulative (issue FIM-BASE-GAP-002)", "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "W12", "name": "Correspondent Banking, Settlement & Access", "confidence": "Confirmed", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w12-correspondent-banking-settlement-access", "standing_position": "Direct settlement access to Canada's core payment systems (Lynx, ACSS, and the forthcoming RTR) is governed by Bank of Canada settlement-account access policy, gated on Payments Canada membership eligibility; the September 2025 Canadian Payments Act amendments expanded that membership to RPAA-registered PSPs, credit unions that are members of a credit union central (relevant to NB credit unions via Atlantic Central), and designated clearing houses -- materially widening direct settlement access beyond the traditional bank-only model.", "findings": [ { "finding": null, "instrument_type": "settlement account access policy", "source": "https://www.bankofcanada.ca/core-functions/financial-system/bank-canadas-settlement-account-policies-for-payments-canada-payment-systems/bank-canada-settlement-account-access-policy-lynx-automated-clearing-settlement-system/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "settlement account eligibility", "source": "https://www.bankofcanada.ca/core-functions/financial-system/bank-canadas-settlement-account-policies-for-payments-canada-payment-systems/", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "membership expansion", "source": "https://www.electronicpaymentsinternational.com/features/canada-finally-to-get-real-time-payments-open-banking/", "source_url": null, "source_tier": "3", "retrieved_at": null }, { "finding": null, "instrument_type": "central/liquidity access", "source": "https://fcnb.ca/en/personal-finances/what-is-a-credit-union", "source_url": null, "source_tier": "1", "retrieved_at": null }, { "finding": null, "instrument_type": "oversight framework", "source": "https://bankofcanada.ca/core-functions/financial-system/oversight-designated-clearing-settlement-systems/services-provided", "source_url": null, "source_tier": "1", "retrieved_at": null } ] }, { "code": "W13", "name": "Commercial Intelligence & Fintech", "confidence": "Possible", "moved_this_cycle": false, "url": "https://payments.gi/jurisdictions/canada-new-brunswick/#w13-commercial-intelligence-fintech", "standing_position": "No New Brunswick-specific payments/fintech M&A, funding round, or product-release event with a trailing-12-month event_date was identified in this pass despite a dedicated search; the closest relevant trailing-12-month commercial event is national-level (Meridian Credit Union's March 2026 approval as the first provincial credit union member of Payments Canada), which has structural relevance to NB's own credit-union-central access model but is not an NB-domiciled event.", "findings": [ { "finding": null, "instrument_type": "commercial_event", "source": "https://wowa.ca/credit-unions-canada", "source_url": null, "source_tier": "3", "retrieved_at": null } ] } ] }