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Tuesday, February 17, 2026

Bank of Canada Orders Payments Firm XTM to Stop as Millions Go Missing

 


The Bank of Canada issued an order to temporarily stop financial technology company XTM Inc. from handling retail payments, alleging it failed to safeguard client funds and caused a “significant shortfall.”

XTM operates a platform designed to allow employees of restaurants, hotels, casinos, salons and other hospitality businesses to access wages and tips as soon as they’re earned through prepaid cards. It was called AnyDay and is now referred to as Everyday.

https://www.bloomberg.com/news/articles/2026-02-17/bank-of-canada-orders-payments-firm-xtm-to-stop-as-millions-go-missing

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