How Telpay Works
Telpay is best known as a bill payment service. We accept payment instructions from individuals and businesses by a variety of means – online, payment software systems, and other financial service providers. In short, any source that can provide accurate information in electronic form.
The fact that we then take these instructions, group them by billers and forward them all in a convenient format to the recipient is a very important part of the value we bring to billers. Rather than receiving multiple individual payments by cheque or electronic credits to their bank accounts, they receive a file ready for posting to other accounts and a single account credit.
Building on this structure, which has been in operation since 1985, Telpay continues to enhance the services it offers. We are unique in that we can process payments to anyone. Other systems are limited to about 5,000 billers. With this one system, we can handle transfers to bank accounts, payments of all kinds of taxes, and international payments at a much lower cost than by any other method.
Telpay will continue to bring innovative, cost-effective and secure payment services to the public.