A shocking revelation has hit the Canadian restaurant industry, leaving many establishments in financial turmoil. Millions of dollars in hard-earned tips have seemingly vanished into thin air from digital wallets, and the mystery deepens as complaints flood in. But who is to blame?
According. to Ian Tostenson, CEO of the British Columbia Restaurant and Foodservices Association, the crisis is widespread. In just 48 hours, he received frantic calls from 50 restaurants, primarily in B.C. but also in Alberta, all reporting the same issue: missing tips. And the estimated loss? A staggering multimillion-dollar figure.
The culprit? It seems to be Everyday Payments, a payment processor that offers a convenient service for restaurants to manage gratuities. But here's where it gets controversial: the company is jointly owned by two subsidiaries, one of which, XTM Inc., has an accumulated deficit of $71.4 million as of December 1, 2025. This raises questions about the financial stability of the service provider.
The situation is dire for restaurants, with some borrowing money to pay their staff the tips they rightfully earned. But the plot thickens as the Bank of Canada and the RCMP investigate the matter. While the Bank of Canada assures they are looking into the concerns, they remain tight-lipped about specific actions, leaving many wondering about the fate of their funds.
And this is the part most people miss: the potential impact on the entire payment processing industry. If Everyday Payments is found to be at fault, it could shake the trust in digital wallet services, causing a ripple effect across the sector.
As the investigation unfolds, the question remains: will the missing tips be recovered, and who will be held accountable? The financial regulator's findings will undoubtedly shape the future of digital payment services in Canada, leaving many businesses and consumers on the edge of their seats, awaiting justice.
