E-Money Compliance Services for Issuers
Issuing electronic money means taking customer funds and standing behind stored value. We help e-money issuers meet their Canadian obligations, from the right registration through to safeguarding the funds behind the balances.
No E-Money Licence, But Real Rules
Unlike the EU or UK, Canada has no standalone e-money licence. That does not mean issuing e-money is unregulated. Your obligations come through the existing regime instead, so the real task is knowing which hooks catch you. We map your e-money model to the rules that actually apply to it in Canada.
Where E-Money Issuance Lands
An e-money issuer usually performs payment functions, which can bring Bank of Canada registration under the payments regime. If you also move or exchange money, FINTRAC registration can apply too. On top of that sits the duty to safeguard the funds backing your issued balances and to run proper AML controls. We help you place your business correctly across all of these.
Regime Mapping
We identify which Canadian registrations your e-money issuance actually requires today.
Float Safeguarding
We help you safeguard the customer funds that back your issued balances.
AML Controls
We build the KYC, monitoring, and screening your issuance activity needs.
Ongoing Compliance
We keep your e-money compliance current as your business and rules change.
Ready to Simplify Your Compliance?
Issuers We Support and Guide
We support prepaid and stored value issuers, payment platforms, e-wallet providers, mobile money services, and the other businesses issuing electronic money to customers under the PCMLTFA and Canadian payment regimes.
We support banks with program design, oversight, & regulatory examination readiness.
We help credit unions meet obligations proportionate to their membership and scale.
We handle registration, renewals, reporting, & controls FINTRAC expects from you.
We cover Bank of Canada registration alongside your anti money laundering obligations.
We establish what your wallet activity triggers, then build only what applies.
We build compliance around what your product does, before volumes and questions arrive.
We register virtual currency dealers and build the reporting their activity demands.
We support financial institutions across registration, program build, and reporting duties.
Why Issuers Choose Our Compliance
Canada Accurate
We advise on the Canadian regime as it truly is, not by importing an e-money licence that does not exist.
Float Protected
We help you safeguard the funds behind your balances, so a core duty of issuing e-money is properly met.
Correctly Placed
We place your issuance across payment and money services rules correctly, so you register where you actually need to.
Serving Issuers Across Canada
We support e-money issuers right across the whole of Canada, from Toronto and Montreal to Vancouver and Calgary, and foreign issuers serving Canadian customers wherever they happen to be based.
Let's Talk About Your Compliance Needs
Schedule a Free Consultation
Whether you’re starting a new MSB or need ongoing AML support, our team responds within one business day.
E-Money Compliance Questions
Clear answers to the questions issuers ask most about the compliance obligations of issuing electronic money across Canada under the PCMLTFA.
Is there an e-money licence in Canada?
No. Canada has no standalone e-money licence. Your obligations come through payment registration, FINTRAC registration, and AML rules instead.
How is e-money regulated in Canada?
Through the existing regime. Payment functions can bring Bank of Canada registration, money movement can bring FINTRAC, alongside safeguarding and AML duties.
What does safeguarding the float mean?
It means protecting the customer funds that back your issued balances, so they remain secure and available to the customers who hold e-money.
How is this different from wallet compliance?
Wallet compliance covers the product holding funds. E-money compliance focuses on issuing the stored value itself and the issuer’s obligations.
Do foreign e-money issuers need this?
If you serve Canadian customers, likely yes. We help foreign issuers understand and meet the Canadian obligations that reach their business.