StorsApp Inc. is now registered with FINTRAC as a money services business
On October 20, 2026, StorsApp Inc. — the company behind Storspay — received its registration from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money services business. What that means for the businesses that pay and get paid through Storspay, and what it does not mean.
Read this guide in Français
The short version. StorsApp Inc., the Canadian company that operates Storspay, is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a money services business, effective October 20, 2026. Registration places StorsApp Inc. under Canada's anti-money-laundering and anti-terrorist-financing regime — the Proceeds of Crime (Money Laundering) and Terrorist Financing Act — with its reporting, record-keeping, client-identification and compliance-programme obligations. It is the regulatory footing a cross-border payments company in Canada is expected to have, and our customers, partners and banks can now verify it in FINTRAC's public registry.
What FINTRAC registration is
FINTRAC is Canada's financial intelligence unit. Businesses that offer foreign-exchange dealing, remitting or transmitting funds, or dealing in virtual currencies are required to register with it as money services businesses before operating. Registration is neither a licence nor an endorsement — FINTRAC says so itself, and so do we in the disclosures on every page of this site. What it does is bring the business inside a supervised regime: every registered money services business must run a written compliance programme, appoint a compliance officer, identify its clients, keep records, report large and suspicious transactions, and submit to FINTRAC examinations.
Storspay was built to those standards before the registration arrived. Every business is verified before its first payment, every payment is screened against Canadian, United Nations and US sanctions lists, and every transaction carries a reference that can be traced from the funding bank to the recipient's account. The registration confirms the framework; it does not change what a customer experiences.
What changes for customers
- Canadian-dollar funding is now processed by StorsApp Inc. itself as a FINTRAC-registered money services business, alongside payment partners that are also registered with FINTRAC. Interac e-Transfer and EFT funding in Canadian dollars continues as before.
- Due diligence gets simpler. Finance teams, procurement departments and banks that ask "who are you regulated by?" can look StorsApp Inc. up in FINTRAC's registry. The registration number will be published in the site footer once FINTRAC issues it.
- Nothing else moves. Pricing (from 1% all-in), the 30 corridors, same-day delivery, the business-only rule and the way funds are held by regulated infrastructure providers rather than by Storspay are unchanged.
What it does not mean
Registration with FINTRAC does not constitute an endorsement by FINTRAC or the Government of Canada of Storspay or its services. It does not make Storspay a bank, and it does not mean funds are insured by Storspay — balances continue to be held by regulated financial infrastructure providers until delivery, as our disclosures describe. It does not extend to personal transfers: Storspay serves verified businesses, sole traders and organisations, and every payment must be a business transaction.
Where Storspay stands, regulator by regulator
| Jurisdiction | Status |
|---|---|
| Canada | StorsApp Inc. registered with FINTRAC as a money services business (October 20, 2026). Federal corporation no. 1124620-8; registered office in Calgary, Alberta. |
| United States | US-dollar virtual accounts and payouts are provided by partners registered with FinCEN; US business address in New York. |
| Destination countries | Local-currency payouts delivered by partners licensed or registered by each national regulator. |
Questions businesses ask
Is Storspay regulated in Canada?
StorsApp Inc., the company that operates Storspay, is registered with FINTRAC as a money services business as of October 20, 2026, and follows the reporting, record-keeping and client-identification obligations that come with that registration.
Does FINTRAC registration mean the Government of Canada endorses Storspay?
No. Registration with FINTRAC does not constitute an endorsement by FINTRAC or the Government of Canada of Storspay or its services. It means StorsApp Inc. is a registered money services business subject to FINTRAC supervision.
Where can I verify the registration?
In FINTRAC's public money services business registry, under StorsApp Inc. The registration number will also appear in the footer of storspay.com once issued.
Does this change how my money is held?
No. Storspay does not hold customer funds. Balances are held by regulated financial infrastructure providers until delivery; local-currency payouts are delivered by licensed in-country partners.
Can individuals now use Storspay to send money to family?
No. Storspay is for businesses, sole traders and organisations paying for work, goods and services. Personal transfers are not part of the product.
See your own corridor number. What your team receives, what Storspay costs, what you keep — no sign-up.
Open the calculator →