A Canadian company can, but it has decided to go the extra mile to make the name change official.
A Canadian firm is making the case for a change to the name of its online payment service after the Canadian government asked for a new name for the company that’s been called Canada Payments.
The Canadian National Payroll Service (CNPS) has been called the “largest, most secure and fastest-growing payments system in Canada,” but the company’s new name isn’t going to satisfy Canadians.
Instead, the company is looking to change its official name to Canada Payments Canada.
It’s the first major change to a company’s name in the country’s history, and it’s the latest attempt by the company to change the name.
In 2015, CNPS merged with two other companies to form Canadian Payments, which is now called the CNPS Group.
CNPS was already using the new name on its website when the Canadian Financial Services Commission (CFSC) asked for changes.
When the CNP announced the name changes, the CFSC said it would seek the public’s input and would use the recommendations made to ensure that the new brand name reflects the company as a whole.
The Canadian Bankers Association (CBA) also raised concerns about the name, saying the name “has become synonymous with fraud, terrorism and corruption.”
In January, CNP released a report stating that it has had more than 300 incidents involving its payments system.
The report cited a 2013 audit by the Canadian Taxpayers Federation (CTF), which found that CNPS’ payments system was not compliant with Canadian laws.
In May, CNPA requested that the CFSA issue a warning letter about CNPS.
CNPA’s report concluded that CNP’s payments system “may not be in compliance with the financial services act.”