Zota Technology (CA) Inc.
This Retail Payment Activities Act Disclosure Statement ("RPAA Disclosure") is provided by Zota Technology (CA) Inc. ("Zota", "we", "us") to inform clients and users about the nature of Zota's activities, operational model, and related risks in accordance with applicable Canadian regulatory expectations.
This RPAA Disclosure applies to all users and clients engaging with Zota's services and forms part of the overall transparency framework governing the relationship between you and Zota.
The Retail Payment Activities Act (RPAA) establishes a regulatory framework in Canada for certain payment-related activities and is administered by the Bank of Canada. Zota is registered in Canada as a Money Services Business (MSB) with FINTRAC and may perform activities that fall within the scope of the RPAA, depending on the nature of the services provided and the role performed by Zota in a given transaction.
Zota acts as a financial intermediary and service facilitator. Zota:
Where payment execution, settlement, or safeguarding of funds is involved, such activities are performed by regulated third-party payment institutions or electronic money institutions engaged by Zota under contractual arrangements.
Client funds are safeguarded by third-party regulated payment service providers, in accordance with applicable laws and their own regulatory obligations. Zota does not hold client funds at any time. Client funds are not protected by the Canada Deposit Insurance Corporation (CDIC) or any other deposit guarantee scheme.
As with all payment and technology-enabled services, certain risks may arise, including:
Zota applies appropriate contractual, technical, and organisational measures to manage such risks; however, no system can guarantee uninterrupted or error-free operation.
Zota relies on third-party service providers, including payment institutions, electronic money institutions, and technology vendors, to perform certain operational functions. While Zota conducts due diligence and oversight of such providers, the performance of third-party services is subject to their own operational, legal, and regulatory frameworks.
Clients are responsible for:
Clients may submit questions or complaints regarding Zota's services or this RPAA Disclosure using the contact details published on Zota's website. Complaints are handled in accordance with Zota's Complaints Handling Policy.
This RPAA Disclosure Statement is provided for transparency and regulatory information purposes and must be read together with:
In the event of inconsistency, the contractual governing documents prevail.
This RPAA Disclosure Statement may be updated from time to time to reflect changes in law, regulation, or Zota's business model. Updated versions will be published on Zota's website.