Police and a financial regulator are investigating complaints that millions of dollars’ worth of tips have gone missing from digital wallets belonging to Canadian restaurants that are clients of payment processor Everyday Payments.

Ian Tostenson, president and CEO of the British Columbia Restaurant and Foodservices Association, said he’s received panicked calls from at least 50 restaurants in the past 48 hours. Most of the complaints are from restaurants in B.C., but some are in Alberta, said Mr. Tostenson, who has calculated a multimillion-dollar loss.

“It was 50 [restaurants] that contacted us directly, but I think there’s hundreds of restaurants that are in trouble,” Mr. Tostenson said, adding, “I think it’s likely an across-the-country issue.”

Representatives of the Bank of Canada and the B.C. RCMP said they are investigating the matter.

Everyday Payments offers a service that makes it faster and simpler for restaurants to pay gratuities to their staff. Restaurants pay the money into a digital wallet, where it is to be held in trust for the employees, Mr. Tostenson explained.

“This is really devastating to the industry,” Mr. Tostenson said, noting that some restaurants have had to borrow money in order to pay their employees the gratuities they’re owed.

Everyday Payments is a jointly owned subsidiary of Edmonton-based Everyday People Financial Corp. EPF-X and Toronto-based XTM Inc. PAID-CN

In financial statements filed Dec. 1, XTM said it had an accumulated deficit of $71.4-million.

“These conditions indicate the existence of material uncertainties that may cast significant doubt over the ability of the company to continue as a going concern,” the document states.

The Globe and Mail phoned and texted a phone number associated with Marilyn Schaffer, the chief executive officer of XTM, and was sent a link to an October, 2025, press release which states that Everyday People Financial would be taking on “full operational management, compliance oversight and technology administration of XTM’s Canadian network branded card and digital wallet programs.”

“Note that as of Dec. 1, 2025 XTM has had no care or control of bank accounts or funding,” read a text from someone who said they were managing Ms. Schaffer’s inbox “as she is in legal meetings.”

Everyday People Financial did not respond to a request for comment.

Under the Retail Payment Activities Act, the Bank of Canada is responsible for supervising payment service providers, who are required to mitigate their operational risks, report and respond to incidents and safeguard their users’ funds.

The Bank of Canada is “aware of these concerns, and we are looking into the matter,” spokesperson Akim Thibouthot said in an e-mail.

“We cannot comment further on specific cases, but the Bank has tools at its disposal to further promote [payment service provider] compliance with their obligations under the RPAA,” Mr. Thibouthot noted.

Meanwhile, at least one report of missing money has been filed with the Whistler RCMP, according to a spokesperson for the B.C. RCMP.

“That investigation remains open and no further details will be provided,” Staff Sergeant Kris Clark said in a statement.