Retail Payment Activities Act

In force

This text since 29 Jun 2021law://ca/sc/2021/c-23-s-177/sec_2__def_payment_function@2026-11-10

Contents

payment function means

(a)the provision or maintenance of an account that, in relation to an electronic funds transfer, is held on behalf of one or more end users;

(b)the holding of funds on behalf of an end user until they are withdrawn by the end user or transferred to another individual or entity;

(c)the initiation of an electronic funds transfer at the request of an end user;

(d)the authorization of an electronic funds transfer or the transmission, reception or facilitation of an instruction in relation to an electronic funds transfer; or

(e)the provision of clearing or settlement services. (fonction de paiement)

Federal laws of Canada reproduced under the Reproduction of Federal Law Order (SI/97-5); not the official version. Source: Justice Laws Website.

Defined terms · 16