Multipass is a financial services provider offering global business accounts, multi-currency payments, and cross-border transaction solutions.
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Money Transfer
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Canada · MSB
Money transfer platform for Canadian MSBs
Build a remittance service where the sender's details, the recipient's details and your exchange rate are recorded at the moment the transfer is created. Those are the fields FINTRAC checks first, and the ones that are hardest to rebuild after the fact.
- Branded sender apps for iOS, Android and web
- Corridor pricing and FX margins in price lists
- Travel rule fields on every transfer
- Exports for EFT reports over CAD 10,000
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What a registered MSB can launch with the platform
Sender apps in your brand
Customers sign up, pass identity checks, save recipients and send money from a white-label app or web cabinet, with two-factor confirmation on every transfer.
Corridors with their own pricing
A fee and an FX margin for each currency pair and route, set in price lists. Senders see the rate and the amount the recipient gets before they confirm.
Payouts through your partners abroad
Transfers go out by SWIFT, SEPA or US ACH, or through payout partners you contract in each destination country and connect to the platform.
Bulk payouts for business senders
Companies paying contractors or suppliers abroad upload a file or use templates, and a second user approves the batch before it goes out.
Sender limits and tiers
Per-transfer and per-period limits by customer tier, so a newly verified sender can move less than one with a longer history.
What this licence does not cover
- Running Canadian domestic clearing yourself. Until you are a Payments Canada member and accepted into a system, CAD payments go through a bank or another member.
- Starting retail payment activities before the Bank of Canada has registered you, if you hold sender funds or initiate transfers for end users.
- Using agents you have not vetted. Since 1 October 2025 each new agent's eligibility, including criminal record checks, must be verified before you engage it.
What the regulator asks about your IT
Each requirement, what the platform gives you for it and who owns it after launch.
Each transfer stores the sender, the recipient, their accounts, the amount in both currencies and the exchange rate used.
CrassulaThe sender app collects name, address and account details before a transfer is created. Messaging to the next institution runs through your bank or payout partner.
You, with your payout partnersTransfers can be held as drafts and released or cancelled by your staff after review.
Your compliance officerExports of each sender's international transfers with timestamps, so transfers that add up to CAD 10,000 in 24 hours can be found.
You file with FINTRAC, on platform dataScreening runs through a connected provider or your own tool. The platform can block a sender or a transfer once a match is confirmed.
Your compliance officerSeparate back-office roles for agent staff, so every action is tied to a named user. Background checks and the list you give FINTRAC and the Bank of Canada stay with you.
YouEach sender's unpaid balance at the end of the day, ready to compare with your trust or segregated account.
Your finance team, on platform dataOur incident process as your technology provider, with detection and resolution times you can use in your notice.
Shared
Payment rails and providers
Rails your customers can use
SWIFTSEPASEPA InstantUS ACHPayout partners you connect
24/7
real-time processing, no batch window
60+
payment and provider integrations connected
150+
companies run on Crassula
15+
languages the platform speaks
Dates to plan around
Rules that change what you have to build, in the order they apply.
29 Sep 2025
Canadian Payments Act amendments took effect: PSPs registered with the Bank of Canada can now apply for Payments Canada membership.
1 Oct 2025
MSBs must verify each new agent's eligibility, including criminal record checks, before engaging it, and repeat the check every two years.
Q4 2026
Planned launch of the Real-Time Rail. Payments Canada members can apply to join it and send instant CAD payments around the clock.
1 Oct 2027
Deadline to finish the first eligibility checks on agents engaged before 1 October 2025.
Setting up a remittance business in Canada? Show the regulators a live product.
FINTRAC and the Bank of Canada both ask how transfers move from sender to recipient. Walk them through a working service and hand over the technical description, while your advisers prepare the rest of the file.
01
A platform you can demonstrate
A configured environment to show the regulator, not slides.
02
The technical part of your application, prepared
How a transfer flows, where data is stored, which third parties are involved and how incidents are handled, written for your Bank of Canada file.
03
Providers lined up
Banking, safeguarding and KYC providers from our network, matched to your registration.
Crassula provides technology and documentation support. We do not provide legal or regulatory advice and cannot guarantee the outcome of an application.
How a launch usually runs
Picture a team in Calgary that sends money from Canada to the Philippines and Mexico. They register with FINTRAC and apply to the Bank of Canada, because senders top up a balance before the money goes out.
We launch the sender app in their brand and set up the two corridors with their own fees and FX margins. Payout partners in both countries are connected, and every transfer is created only after the app has the recipient's name, address and account. The compliance officer checks the weekly export for transfers that reach CAD 10,000 within 24 hours and files the EFT reports.
Planning the business first? Read how to start a money transfer business and our guide to MSB registration in Canada.
Read the licence guides
FAQ
Electronic funds transfer reports for international transfers of CAD 10,000 or more, sent or received, due within five working days. Several smaller transfers count together if they reach that amount within 24 hours for the same sender or recipient. Suspicious transaction reports apply at any amount, and large cash reports matter if agents take cash.
Since 1 October 2025 an MSB must check an agent's eligibility, including criminal record checks, before engaging it and again every two years, and end the relationship if the agent is not eligible. Agents engaged earlier must be checked by 1 October 2027.
Only as a Payments Canada member, and membership is open to PSPs once the Bank of Canada has registered them. Membership and joining a payment system are separate steps. Crassula is not a member; until you are, CAD payments run through your bank, and that connection is scoped in your project.
Not by itself. Screening runs through a connected provider or the tool your compliance team already uses, and the platform acts on the result by blocking the client or the transfer.
Fees and FX margins live in price lists by currency pair and client group. The rate applied is saved on each transfer, which is also what the FINTRAC record for that transfer needs.
Yes, if you direct money services at people or businesses in Canada. Foreign MSBs register with FINTRAC and run the same compliance programme. The Bank of Canada can also require registration from a foreign PSP serving Canadian end users.
