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Supervision of PSPs in Canada
On this episode, Ellie Duncan is joined by Ron Morrow, executive director, retail payments supervision at the Bank of Canada to discuss the newest core function to supervise payment service providers and retail payments, the Retail Payment Activity Act. Ron explains what it will mean for PSPs, both in Canada and outside of Canada, and how the central bank has engaged with industry on its supervisory approach. He also discusses how the Act will fit alongside other initiatives, such as Real-Time Rail and Open Banking.