A man speaks on the phone as he walks past the Bank of Canada in Ottawa on Sept. 17, 2025. The Canadian Press/Adrian Wyld
The Bank of Canada says it has issued a temporary order to Toronto-based payment service provider XTM Inc. to immediately halt all retail payment activities for failing to safeguard clients’ money.
The Feb. 17 order says the central bank has “serious concerns” that third-party payment service XTM has failed to protect client funds and has grounds to suspect that permitting it to maintain operations may pose a risk to the public’s interest.
