The Big Tech giants, all of which offer payments services in Canada, do not appear on the Bank of Canada’s newly released list of companies that have applied for registration under its payment oversight regime. Bank of Canada spokesperson Paul Badertscher said he can’t confirm the status of firms that aren’t on the list, but noted it does not include companies that are working with the institution to determine whether they need to register. (The Logic)
Talking point: Non-bank businesses that make money from payment services had until mid-November to register with the central bank, under a sweeping new regulatory regime designed to safeguard against company failures, hacks and other risks. While Amazon, Google and Shopify appeared on the list, the Bank of Canada is “following up” with companies it believes should have complied. Notably, Apple, Samsung and Meta each have payment services that are available in Canada. The companies did not respond to requests for comment by deadline.