Bank of Canada orders restaurant tip manager XTM to halt payment activities
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
Hey there, time traveller!
This article was published 17/02/2026 (204 days ago), so information in it may no longer be current.
OTTAWA – The Bank of Canada says it has ordered restaurant tip manager XTM Inc. to stop performing any retail payment activities.
The central bank says it has “serious concerns” that XTM has failed to safeguard client funds and has reason to believe that allowing it to continue operations could be harmful to the public’s interest.
XTM provides a payment service for restaurant owners to gather and distribute tips to staff using pre-paid cards through a platform called Everyday, previously called AnyDay.
The Bank of Canada says the company’s financial statements show it has failed to safeguard those funds and caused a significant shortfall in end-user funds to accrue.
It has ordered XTM to not withdraw from any accounts associated with the platform, and that it has to stop representing itself as a payment service provider.
Anne Butler, managing director of supervision at the Bank of Canada, says in an order that she’s concerned XTM’s ongoing involvement in the platform could have a significant adverse impact on end users.
This report by The Canadian Press was first published Feb. 17, 2026.