Buy MSB + RPAA Canada — Dual-Registered Payment Company for Sale

An MSB+RPAA company is a Canadian corporation with both FINTRAC MSB registration (covering the 6 PCMLTFA permission types) and Bank of Canada RPAA registration (covering retail payment activities under the Retail Payment Activities Act). It’s the strongest payment authorization available in Canada — and the slowest to build from scratch (8–12 months, $100,000+ in compliance costs).

Why MSB+RPAA Is the Strongest Canadian Payment License

Two regulators. Two regimes. One company:

FINTRAC MSB covers anti-money-laundering compliance under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Required for anyone offering FX, money transfer, virtual currency, money orders, crowdfunding, or payment services.
Bank of Canada RPAA covers operational risk and end-user funds safeguarding under the Retail Payment Activities Act. Required for anyone holding customer funds, initiating EFTs, providing payment accounts, or operating clearing/settlement.

Most modern fintechs — digital wallets, neobanks, remittance platforms, crypto fiat-on-ramps, payment processors — need both. Building both from scratch takes 8–12 months and significant compliance investment. Read the full MSB+RPAA dual-compliance guide.

What’s Included in the MSB+RPAA Bundle

✅ FINTRAC MSB registration with all 6 permissions
✅ Bank of Canada RPAA registration (active)
✅ Risk management framework (operational, fraud, cyber, compliance)
✅ End-user funds safeguarding plan (trust account / guarantee / insurance)
✅ Incident reporting procedures (24-hour Bank of Canada notification)
✅ Complete AML/CTF compliance program (FINTRAC requirement)
✅ Governance & conflict-of-interest policies
✅ CAMLO + risk officer documentation
✅ Clean operating history (verified)
✅ Banking relationship support
✅ Ownership transfer in 5–8 hours
✅ 30 days post-closing compliance support

Timeline Comparison

Path	Time	Cost (Year 1)
Register MSB+RPAA from scratch	8–12 months	$100,000–$200,000 CAD
Use our RPAA Application Service	4–6 months	$50,000–$100,000 CAD + service fee
Buy a ready-made MSB+RPAA	5–8 hours	Acquisition cost only

Who Needs MSB+RPAA?

Digital wallet operators holding customer fiat balances
Remittance services holding funds in transit
Payment processors handling merchant acquiring
Neobanks offering payment accounts to retail customers
Crypto exchanges with fiat on/off-ramps and customer fiat balances
Buy-now-pay-later platforms with consumer payment products
Cross-border payment platforms (B2B and B2C)
Fintechs offering account-to-account transfers outside the regulated bank rails

Frequently Asked Questions

What is RPAA?

The Retail Payment Activities Act is Canadian federal legislation administered by the Bank of Canada. It requires PSPs (Payment Service Providers) holding end-user funds or initiating electronic fund transfers to register with the Bank of Canada and maintain operational risk and funds safeguarding frameworks. Full RPAA guide.

Why do PSPs need RPAA registration?

RPAA targets operational risk and consumer protection. Without RPAA registration, a business cannot legally hold Canadian end-user funds in payment accounts or provide retail payment services. Operating without RPAA after September 8, 2025 carries fines up to $10,000,000 CAD per violation.

What’s included in the MSB+RPAA package?

Everything you need to operate as a regulated Canadian PSP from day one: both registrations active, complete compliance program (AML + risk + safeguarding), all governance documents, designated officers, and clean operating history. See the full inclusion list above.

Can I add RPAA later vs buy the bundle now?

You can — but adding RPAA to a fresh MSB takes 4–6 months and $50,000+ in compliance build-out. The MSB+RPAA bundle saves both. Many of our buyers initially planned to “do RPAA later” and ended up paying twice (in time and money). The bundle is more efficient.

Is the safeguarding framework compliant?

Yes. Each MSB+RPAA in our inventory has a documented safeguarding plan using one of the three approved methods (trust account, financial institution guarantee, or insurance). We disclose the specific method during due diligence so you can confirm fit with your business model.

What’s the difference between MSB-only and MSB+RPAA?

MSB-only covers AML compliance (FINTRAC). MSB+RPAA adds operational risk and funds safeguarding compliance (Bank of Canada). If you don’t hold customer funds and only facilitate transactions (e.g., pure FX brokerage with same-day settlement), MSB-only may suffice. If you hold balances, you need both.

Can foreigners own an MSB+RPAA company?

Yes. Neither FINTRAC nor Bank of Canada require shareholder Canadian citizenship or residency. The corporation itself must be Canadian, with appropriate director composition under provincial law (BC and NB have no Canadian-director requirement). Most of our buyers are foreign-owned.

What happens if Bank of Canada audits us?

Once you own the MSB+RPAA, you’re responsible for ongoing compliance. We hand over all documentation and provide 30 days of post-closing support. For ongoing AML and RPAA compliance support, see our compliance services.

How many MSB+RPAA companies do you have available?

Inventory varies. Among the 10+ MSBs we always maintain in stock, MSB+RPAA dual-registered companies are a subset (typically 2–4 at any time). Demand is strong — we recommend reserving early. Contact us for current availability.