Meet Our Member: TelPay Inc.

Oct 20, 2011 | Chamber News, Corporate Member News

­Pay Anyone

Allowing businesses to pay anyone electronically within Canada and across the world sets Telpay apart from other payment methods. Today we have over 45,000 registered billers; a list that dwarfs our competitors’ and continues to grow daily.

Telpay was formed in 1985 to provide telephone bill payment services to individuals and to eliminate the need for writing cheques. We knew there had to be a better way to pay bills. Telpay has evolved into a complete accounts payable system that allows businesses to send and receive electronic payments to anyone, eliminating the expense of producing and sending cheques.

Connected to your Business

Telpay understands that important information travels with business payments and this information can be as vital to the business as the payment itself. Fully integrating this information with accounting systems of the bill payer and biller allows Telpay to deliver greater efficiency and cost savings to a client’s overall operations. With every payment you save postage, bank service charges, and cheque form costs.

Thousands of Users

Since its inception, Telpay has grown to become Canada’s largest independent bill payment processor handling 18 million transactions worth approximately $13 billion in 2010. Telpay serves thousands of businesses across Canada, including small to medium-sized enterprises, as well as multi-national corporations and major financial institutions. We service clients from a wide range of industries including hospitality, manufacturing, agriculture, and finance.

Developed for Accountants

Telpay systems are valued because they have been developed for accountants by accountants. Telpay’s features continue to expand beyond sending and receiving payments to include the ability to pay government remittances, remote approval of payables, sending international payments, secure audit trails and processing of ebills among many others.

Products and Services

Pay Electronically

The flagship accounts payable and electronic funds transfer system, Telpay for Business, allows businesses to pay all suppliers electronically.  Unlike other systems, Telpay tracks down all the banking information required to make electronic payments. Due to its easy integration with most accounting packages, and enhanced consolidated reports, Telpay simplifies the processing of payables and reduces the time required for reconciliation. Another popular feature is the remote approval system.  All that is required is email access by the signing officer.  Then payables can be approved and funds advanced at anytime. Telpay for Business is a secure and simple way to eliminate cheques from your accounting system.

Receive Electronic Payments

Using Telpay businesses can also receive funds electronically. By providing buttons for paper and electronic invoices, links for use on websites, and demonstration and marketing material, it is easy for your customers to pay your bills electronically.  When customers use Telpay, a consolidated report that details important invoice and payment information is included with the funds which reduces time and costs associated with processing and reconciling cheque or credit card payments.

Telpay Electronic Payment Model

Financial Institutions and Service Providers

Telpay provides electronic, internet and telephone payment solutions to hundreds of Canadian financial institutions and financial service providers, having moved more than $13 billion in 2010. Telpay’s industry-leading technology can integrate fully with virtually any banking system or corporate network, providing your customers with a secure, proven, easy-to-use system. Always maintained to offer the latest in payment technology, Telpay adds value to your service offerings. Our experienced bill payment specialists are dedicated to providing you with the highest level of service and reliability.

Secure Bill Presentment

PresentPay Inc. promotes the presentment by secure email of corporate bills, statements and other documents normally distributed by regular mail. PresentPay has entered into a reseller agreement for Canada with Striata, an international provider of electronic document delivery services.

Telpay Personal Payments

Telpay Personal Payments is an online service that allows individuals to pay all their bills electronically.  Like Telpay for Business, customers can pay anyone and can access a wide range of billers that have already been set up on Telpay’s system.  Today, Telpay Incorporated is the largest independent processor of bill payments in Canada. We processed over 18 million bill payments in 2010. Telpay has won numerous awards and recognition for its innovation in the electronic payments field.

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