Terms of service

01 The agreement

These terms govern your use of Canopay, a payments service operated by Canopay Technologies Inc. By opening an account you agree to them, along with our Privacy Policy.

While Canopay is in private beta, access is by invitation and features may change, be limited, or be withdrawn. We'll tell you before a change that affects your balance or your fees.

02 Your accounts

You must be at least the age of majority in your province and resident in Canada to open a personal account. Business accounts must belong to a business registered in Canada.

You can hold several accounts under one login. You're responsible for keeping your login and devices secure, and for every payment approved from them.

We verify identity before you can hold a balance or receive payments, as Canadian anti-money-laundering law requires.

03 Balances and loading

You load a balance by sending an Interac e-Transfer to your Canopay handle. Loading is free. Funds are available once the transfer is received.

Customer balances are held in segregated accounts at a Canadian financial institution and are not lent out. A Canopay balance is not a deposit and does not earn interest.

04 Sending and receiving

Payments between Canopay accounts settle immediately and are final once sent. Check the handle and the verified tick before you approve a payment.

If you're paid by mistake, or a payment is made fraudulently, we may hold or reverse the funds while we investigate.

05 Fees

Canopay charges a flat 0.25% on payments, as described on our fees page, and nothing to load a balance or move money between your own accounts. We'll give you at least 30 days' notice before raising a fee.

06 Storefronts, subscriptions and payroll

Merchants are responsible for what they sell, for honouring cancellations made through Canopay, and for refunds under their own policies and consumer protection law.

Subscribers can cancel any subscription from their own account. Cancellation takes effect at the end of the period already paid for.

07 What you can't use Canopay for

You may not use Canopay for anything illegal, to receive the proceeds of crime, to evade sanctions, or to sell goods and services we list as restricted. We may close accounts that do.

08 Closing your account

You can close an account at any time after cashing out its balance. We may suspend or close an account to comply with the law, to protect you or others, or for a serious breach of these terms, and will tell you why where the law allows.

09 Liability

We're responsible for losses caused by our errors or by unauthorised payments you report promptly. We're not responsible for losses caused by your sharing your login, or by events outside our reasonable control.

10 Contact

Questions about these terms can be sent to legal@canopay.com. These terms are governed by the laws of Canada and the province you live in.