North American Product Classification System (NAPCS) Canada 2017 Version 1.0

76141 - Credit financing (except loans)

This class comprises credit card services; factoring; financial leasing; and sales financing.

761411 - Credit card products

This subclass comprises the provision of lines of credit to credit card holders, and credit card processing services to merchants, that together enable credit cards to be accepted as a means of payment.

761412 - Factoring

This subclass comprises the provision of financing to a business from the sale of its accounts receivable to a third party, known as a factor. Normally, the factor assumes the full risk of collection, including credit losses.

761413 - Financial leasing

This subclass comprises leases in which the lessor is providing a financial service to enable the lessee to enjoy the benefits of ownership of the leased asset. A lessee has the option of purchasing the machinery and equipment after the lease term has been completed, at an agreed price. With a finance lease the equipment appears on the lessee's balance sheet, as it is viewed as a purchase. Also known as capital lease.

761414 - Sales financing

This subclass comprises the provision of credit by means of conditional sales contracts.