Bank of Canada Orders XTM Inc. to Cease Retail Payment Activities

Canada Bank of Canada News

Filed February 17th, 2026

Detected March 17th, 2026

Summary

The Bank of Canada has issued an immediate compliance order to XTM Inc. and its affiliates, prohibiting them from conducting retail payment activities or processing transactions from the AnyDay platform. This action was taken due to serious concerns about XTM's safeguarding of client funds.

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What changed

The Bank of Canada has issued an immediate, temporary compliance order to XTM Inc. and its affiliated entities, mandating they cease all retail payment activities. This order, issued under section 94(4) of the Retail Payment Activities Act (RPAA), specifically prohibits XTM and its affiliates from conducting any transactions or withdrawals from accounts associated with the AnyDay platform. The Bank cited serious concerns regarding XTM's failure to safeguard client funds and the potential prejudice to the public interest if the activities were allowed to continue.

This enforcement action requires XTM Inc. to immediately halt all retail payment operations. Regulated entities involved in payment processing should review their fund safeguarding practices to ensure compliance with the RPAA and similar regulations. Failure to comply with such orders can result in significant penalties and reputational damage, and may lead to further regulatory intervention.

What to do next

Cease all retail payment activities immediately
Prohibit all transactions and withdrawals from AnyDay platform accounts

Source document (simplified)

Bank of Canada issues immediate compliance order to XTM Inc.

FOR IMMEDIATE RELEASE Media Relations Ottawa, Ontario February 17, 2026 The Bank of Canada today issued a temporary order to XTM Inc. (XTM) to immediately cease performing any retail payment activities. This order applies to XTM and its affiliated entities. The order prohibits XTM or its affiliates from conducting any transactions or withdrawals from accounts associated with the AnyDay platform.

The Bank issued this order under section 94 (4) of the Retail Payment Activities Act (RPAA). The Bank has serious concerns that XTM failed to safeguard client funds in its possession and has reason to believe that allowing XTM to continue to perform retail payment activities could be prejudicial to the public’s interest.

See: Temporary order made by the Bank of Canada to XTM Inc.

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Content Type(s): Press, Press releases Subject(s): Retail payments supervision