The moving of cash funds from one location to another or from one person to another via a person, an entity or a network.

For purposes of the Money-Services Businesses Act, we interpret “funds transfer” broadly to include the following:

• payment service providers, i.e. all natural persons and entities that offer payment functions as part of a service or commercial activity that is not ancillary to another service or commercial activity
• mobile payments constituting a way to transfer funds or pay bills using an application, smartphone, tablet or other device