WayPay is held to the highest financial security standards and is connected to existing banking infrastructure. Our server substructure is hosted by the world’s’ leading Cloud Computing Infrastructure provider which is utilized by banks, CSIS and other federal agencies. We leverage enterprise-grade security with top-level industry certifications and fault-tolerant, distributed systems.
WayPay utilizes enhanced encryption and tokenization, going above industry-standard procedures for payments to eliminate exposure of sensitive cardholder and bank account data. Your credit and/or account information is directly inputted into our secure, encrypted data vault, which generates a random, cryptographically-secure token that is used by our payment application to submit payments on your card or bank account. Once information is deposited into the vault, it cannot be directly retrieved by our payment application, staff, or any third party.
Reporting & Compliance
Operating in the highly-regulated Canadian financial services industry, WayPay is subject to strict compliance tests. All transactions are highly secure and insured. WayPay aligns to all Payment Card Industry (PCI) standards and is subject to annual compliance audits. WayPay reports to the Financial Transactions and Reporting Centre of Canada (FINTRAC) and maintains transactional and account balance insurance in accordance with board regulation.