How We Compare

 

Telpay as your Electronic Payment System Provider
How Do We Compare? 

  Telpay for Business™ Other
Pioneered electronic bill payments in Canada  
Business longevity
How many years has your system provider been in business?
32+ years  
Bill Payment Experts
Experts in bill payments with significant senior management team tenure in bill payments, financial services, accounting, and trust.
300+ years  
All staff, systems, and data are located in Canada
Are your system provider's resources and data located in Canada?
 
Canadian Company
Head office and staff located in Winnipeg, Manitoba.
 
Annual Payments Processed in $ (Fiscal 2017) $17.7B  
Trust Account
Are your funds held by your provider in a Trust Account that is audited by a third party and reported on annually?
 
Dedicated In-house Customer Care Team
Does your system provider have dedicated customer care professionals located in Canada?
 
Accessible Accounting & Technical Support
Do you have access to knowledgeable support staff by phone, email, and live chat? Is your system provider’s support documentation available online?
 
Dedicated Biller Services Department
Does your system provider have a team responsible for biller onboarding and relationship management?
 
Accounting Service Provider Network Across Canada
Can your system provider connect you with a network of accounting and bookkeeping professionals for service and support?
2000+  
Representation on Finance Canada Payments Consultative Committee
Is your system provider at the table with payments industry stakeholders?
 

 

Telpay for Business™ All-in-One Comprehensive Payment System
How Do We Compare? 

  Telpay for Business™ Other
Ability to Pay Anyone, Anywhere
Can your system process vendor/supplier payments, contractor payments in USD, CAD, and international funds?
 
Payroll Direct Deposit
Can you pay your employees with all source deductions and employee contributions?
32+ years  
CRA Payments and Government Remittances for $0.50
Does your system allow you to process CRA payments and government remittances, including the required source/remittance form electronically? Does it enable you to schedule the remittance of source deductions along with payroll?
$0.50  
Utilities and Credit Card Bill Payments for $0.50
Can you pay your utilities, credit cards, and telephone bills? Does your system offer a reduced transaction payment for additional fees to the same biller in the same session?
$0.50  
USD Payments for $2.00
Can you easily send money from your Canadian USD business account to any USD bank account in the US?
$2.00  
International Payments for $2.00
Does your provider offer the ability to send payments in local currencies to more than 200 countries and territories?
$2.00  
Currency Conversions and Forwards
Will your system connect you to a currency conversion platform as well as forwarding services for businesses that have a US dollar, Euro, or other foreign currency accounts with banks in Canada?
 
Collect files from any Canadian Bank Account with Pre-Authorized Debit
Is your system equipped to maintain and process a collection file?
 
Flexible Payment Options: Direct Payments or Imports
Is your system flexible enough to provide more than one bill payment method? Will it allow you to pay bills directly to the system and import a journal entry into your general ledger? Or is it limited to imports from your accounting system?
 
Access to Canada’s Largest Biller File (100,000+ billers)
Does your system have a large biller list? Do you have the ability to add new billers as needed?
 
Bank Account Information and Data Storage
Will your system provider collect banking information for you so you can immediately make electronic payments? Will it store and manage supplier bank account information to eliminate employees having access to confidential information? Will your system update supplier bank information if any changes are made?
 
Remote Email Approval
Will your system allow for your signing officer(s) to approve payments remotely from anywhere?
 
Payment Funding Process
Does your system provide you with two payment funding options? Can you push funds or have your provider debit from your bank account?
 
Next Day Bill Payment
Can you make next business day payments when you push funds from your bank account?
 
Consolidated Payments
Payments are consolidated with details to suppliers, vendors, and consultants for easy reconciliation of accounts.
 
Schedule Payments
Does your system enable you to schedule and remit payments in advance when it is convenient for you?
 
Integrates with Accounting and Payroll Systems
Is your integration limited to leading accounting and payroll systems? Can it adapt to custom accounting and payroll systems?
 
Consolidation to Bank Accounts
Consolidation to bank accounts simplifies reconciliation and reduces bank fees.
 
Payment Journal Entry
Does your system generate a journal entry with each payment session? Can it be directly imported into your accounting system or provide you with a format that you can convert for import?
 
Payment History
Can your system maintain a complete history of your payments? Will the history be accessible even if you cancel the service?
 
Full Reporting Including Automatic Notification to Suppliers
Will your system automatically notify your supplier of a deposit made with all of the payment details, including account number and invoice number?
 
Audit Trail and Audit Guide
Can your system provide audit and paper trails, including extensive controls and simplified reporting?
 
Data Security & Confidentiality
Are your provider’s staff bonded? Is there a high level of protection of customer data and customer identity information and is it maintained internally.
2000+  
Single/Dual Authorization
Will your system allow you to assign various functions to each staff member?