Everyday Payments customers allege their money is missing

An Edmonton-based FinTech company that manages tips and staff wages is in hot water after customers across Canada say it abruptly stopped distributing money, leaving some businesses in the hole for tens of thousands of dollars.

“We are aware of these concerns, and we are looking into the matter.”
Bank of Canada

Global News reports that clients of Everyday Payments allege money from the digital wallets the platform uses to store client tips or staff wages appears to have disappeared from their accounts or not been released. Everyday Payments is a division of Everyday People Payments, a joint subsidiary of Canada-UK firm Everyday People Financial (EPF), and Toronto FinTech XTM.

BetaKit reached out to all three companies for comment. In a statement, an Everyday People Financial spokesperson explained that EPF manages and administers the Everyday Payments platform on behalf of XTM.

The spokesperson said that on Jan. 28, wallet balances on the Everyday Payments platform “were adjusted to reflect the actual cash available in the settlement accounts held in XTM Inc.’s name.”

EPF claimed it is neither the legal holder nor custodian of cardholder funds and that it is not responsible for the “origin, use, or disposition of funds held in those accounts prior to the adjustment.”

The EPF spokesperson also addressed alleged statements from XTM reported by The Globe and Mail that claim XTM has had “no care or control” over Everyday Payments’ funding since December 2025.

“EPF would like to state that this information is factually incorrect. XTM Inc. has, and continues to hold, all merchant funds,” the emailed statement read. XTM has yet to respond to BetaKit’s request for comment.

Without full explanations from all the parties involved, it’s difficult to confirm exactly what happened to the undistributed funds. However, the fact remains that several small businesses have already been significantly impacted.

Restaurants across Canada appear to have experienced issues accessing funds through Everyday Payments.“We’re missing $4,550,” Eric Griffiths, owner of Alta Bistro and Alpha Cafe in Whistler, BC, told Global News. The Broken Seal, in Squamish, BC, is allegedly missing $12,000, while another Vancouver-based restaurant is allegedly missing nearly $1 million from its digital wallet, according to Global’s reporting.

Tony Elenis, the president and CEO of the Ontario Restaurant, Hotel and Motel Association (ORHMA) told BetaKit on Monday, after this story was originally published, that some of his members (which he did not name) have also been impacted by the disruption.

“I can’t name names, but we have heard,” he said. “I know one restaurant did receive funding back to them already, which is good, but it’s sort of like, why did it happen in the first place?”

Elenis confirmed that ORHMA issued an advisory on Feb. 5, urging members experiencing issues to document any discrepancies and recommending alternative platforms vetted by the association. The advisory also noted the impact that delays can have on the razor thin margins many in the hospitality industry work with.

”The hospitality industry depends on trust and reliability. When payroll and tip distribution systems become uncertain, the impact is felt immediately by both operators and the frontline staff who rely on timely and accurate payment of every dollar earned,” the advisory reads.

A similar advisory was issued that same day by the Restaurant Association of Nova Scotia (RANS).

“Members have reported unexpected balance shortfalls, restricted or delayed access to funds, and in some cases, employees temporarily losing access to digital wallets used for tip distribution. This has created immediate financial uncertainty for both businesses and frontline staff,” the RANS advisory reads.

The advisory also recommends that businesses review bank accounts and program balances, document irregularities and transfer prepaid cards or digital wallet balances to other accounts where possible.

The Bank of Canada, which oversees payment service providers (PSPs) under the Retail Payment Activities Act (RPAA), said it is aware of the reports.

“We are aware of these concerns, and we are looking into the matter,” a statement emailed to BetaKit from the BoC read. “We cannot comment further on specific cases, but the Bank has tools at its disposal to further promote PSP compliance with their obligations under the RPAA.”

A Feb. 2 press release had stated that XTM had commenced the Retail Payment Activities Act compliance process for Everyday People Payments.That release added that in January, additional “risk mitigation measures” had been implemented to address some legacy operational practices with Everyday People Payments.

But, just two days later, XTM stated in another release that Everyday People is not registered or required to be registered under the RPAA, but that XTM is and has at all times been a registered money services business.

“All cardholder funds associated with the platform are held in trust in accordance with applicable legal and safeguarding requirements and are segregated from operating funds,” XTM stated.

Early last month, XTM had announced that it had moved more than 100,000 customers over to Everyday Payments’ Google and Apple wallets.

BetaKit reached out to both the Royal Canadian Mounted Police and Edmonton Police Service for comment on whether any reports had been received or investigations initiated, but as of press time, had not received a response.

UPDATE (02/09/2026): This article has been updated to include comment from Everyday People Financial Corp., as well as the Ontario Restaurant, Hotel and Motel Association, and the Restaurant Association of Nova Scotia.

BetaKit’s Prairies reporting is funded in part by YEGAF, a not-for-profit dedicated to amplifying business stories in Alberta.

Photo courtesy of Unsplash.