Category Archives: Direct Payments

What is a Biller?

In discussing electronic payments made through Telpay’s secure payment systems, we may at times use unfamiliar terms. To help you have a better understanding, we’ll be providing a series of articles that explains Telpay’s terminology.

What is a Biller?
Billers, simply put, are businesses or individuals that you need to send money to using Telpay for Business. These can be suppliers, employees, consultants, contractors, utilities, donations, credit cards and government remittances.

With Telpay for Business, you can quickly look up these billers with our convenient biller search field. If the company or individual is not in our system, no problem; simply add your biller’s information using the detailed payment screens.

To learn more about Telpay Billers, contact one of our representatives service@telpay.ca or call 1-800-665-0302.

Qualifying: How to Make Sure Clients Are a Fit

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As much as we would like you to sign up all your clients with Telpay, it is also important to make sure that Telpay is a fit. That is why qualifying right off the hop is very important. Just like qualifying in sales, it’s all about asking the right questions to make sure the needs of that business can be met by the Telpay solution. Continue reading

Growing Your Business Internationally

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Guest Blogger:  Paul Rechner, President, Payline by ICE
Working in a variety of roles in the Canadian corporate foreign exchange industry for the past 10 years, Paul Rechner has brought to Payline by ICE a vision for growth and expansion while holding firm to our primary tenets of ethical business practices and customer service.

Most businesses need growth to survive. Few survive the test of time without looking at new products, new processes and new markets. All of these can be intimidating by taking us out of our comfort zone, but what could be more foreign than expanding into markets in other countries with different norms, practices, consumers and prioritization of needs? You wouldn’t likely be making the expansion if you didn’t have good reason to believe that your product would be valued there, but as with all commerce, it will require the efficient flow of funds for a venture to be successful.

Payline by ICE and Telpay have partnered for years to provide clients with access to Telpay’s International Payments Module. This software allows for you to send payments in over 140 currencies to most countries around the world, with transparent pricing, and all the convenience you have already come to expect from Telpay. Tired of wire fees ranging from $20-$75 or more? International payments made through Telpay cost only $2 per transaction, and the exchange rates are, in most cases, superior to those offered by your bank.

As you look to expand into new territories, there are often exploratory and set-up costs associated with the venture. As Canadians, we have it ingrained to go to our bank for most every financial transaction. The general rule is, the more you send, the better the pricing. Most businesses don’t send enough to benefit from special rates and fees. By working with an International Payments specialist like Payline, we aggregate the transactions of numerous clients, and take that to the bank to get better pricing than the individual transactions would receive. We pass on a portion of those savings, allowing us to demonstrate cost-savings to our clients. The best part is that it’s made easy and convenient, working through a system that you already know and understand.

As your business grows in new markets, you will presumably start receiving foreign revenues from those territories. Through your account with Payline by ICE, you’ll be able to access our help in converting those back to Canadian Dollars, or into another currency as you expand into yet further territories.

While there are many stresses involved with growing your business internationally, dealing with the movement of funds doesn’t have to be one of them. Visit International Payments for more information about getting started.

 

Tired of Tracking Down Signatures

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Margaret Chwyl is a Certified Professional Bookkeeper (CPB) and runs her own business, M Chwyl Accounting & Consulting Services. As well, she is a partner of Telpay’s Accounting Service Provider (ASP) Program and knows all about the advantages of electronic payments for business. In addition, Margaret is the volunteer bookkeeper for Calvary Baptist Church, which is very rewarding, but at times frustrating because they were still processing payments the traditional way. Continue reading

Pay It Forward…Electronically!

forward-blogThe Pay it Forward concept is not just for a personal act of kindness, it can also be applied to business. Kindness in a business environment results in positive ripple effects where everyone gains when they invest time in building good relationships. From consultants, vendors, suppliers to contractors, people like to do business with people they know, like and trust.

To build this rapport, now that your business has gone electronic, why not introduce your suppliers’ to the benefits of direct deposit payments. Encourage your suppliers to switch from receiving your manual cheques to direct deposit through Telpay. Direct deposit payments are fast, reliable and secure. Your payments are deposited directly into their bank account. No more special trips to the bank and they have faster access to their money. It’s easy.

How to Encourage Your Suppliers to Switch

  • Phone: One of the best ways to build a rapport with your suppliers is to be in contact with them. Advise your suppliers to start receiving their payments by direct deposit by calling to let them know they will be paid faster. It is a phone call they will appreciate.
  • Email: In your conversation, let them know you will follow up with email instructions on how to get started. Include a link to Telpay’s Direct Deposit web page for more information – http://www.telpay.ca/business/receive-money/basic-direct-deposit

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Things To Consider Before Replacing Cheques With Electronic Payments

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A three part series on “going electronic” with your business payments.

Switching from cheques to electronic payments for most businesses is definitely the way to go. In order for accounting professional to help prospects and clients find the right payment solution, it is important to understand how other electronic payments work in comparison to Telpay.

Over the next three articles, I will reveal many key points of going electronic that I encourage you to share in your sales presentations. In my last article, I will compile everything together to create a checklist, that you can reference to help transition your clients to electronic payments.

Before I begin, let’s clarify: What does it mean to go electronic? I am referring to the solutions that are designed to replace regular cheque or credit card business payments.

Most often, people think of the following payment options:

– Online banking
– Bank electronic funds transfer (EFT)
– Third party electronic payment solutions: Telpay, PayPal, etc.

To keep it simple, I am going to keep the conversation between Telpay and bank solutions. There are other options (i.e PayPal) but most do not work without costly credit cards. Many businesses are encouraging their customers to pay by EFT, to save on the rising costs of credit cards, which is why Telpay is becoming important in the Canadian payments landscape.

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Building Relationships With Electronic Payments

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Everyone likes getting paid. When your business uses electronic systems to send money directly into bank accounts, it says a lot.

I once had a client tell me; ‘When I send money electronically, it makes my business look more professional, as if we are bigger than we are.’

As some of you may know, Telpay’s system gives businesses the ability to send money anywhere, with just a few clicks of the mouse. That’s very powerful.

Understanding how paying electronically impacts the receiving party is important. Here’s a look at how the people and businesses you pay feel about getting paid by direct deposit to their bank accounts.
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Enjoy a Frosty Root Beer, a Teen Burger and Approving Payments on Your Smart Phone

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burgersSince 1978, the D’eon Family have owned the A&W Restaurant on the Crowsnest Highway near Fort Macleod, Alberta. A&W Food Services of Canada is Canada’s second-largest fast food burger restaurant chain with over 800 locations.

When Dave’s father ran the restaurant ‘everything was paper’ at least where the accounting was concerned. Back in those days, Dave’s father would bring the accountant the ‘books’, and bills, then come back pick everything up and begin signing cheque after cheque. Then he would deliver the cheques to the mail.

Times changed; Dave came aboard and the business continued to grow. Soon Dave was responsible for running the restaurants and managing ‘the books’. With approximately fifty staff and dozens of supplier payments, Dave quickly realized the manual cheque process needed to be replaced with a better way.
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To My Valentine Direct Deposit

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Why do I love my direct deposit service? Let me count the ways. It is for the same reasons that I love paying personal bills with online banking – it’s easy, ultra-convenient and recipients love it!

Reason #1 – It’s Easy
Businesses should always be thinking of ways to become more efficient. Sending money with a few clicks of the mouse is certainly more efficient than dealing with the manual cheque processes – buying cheques, printing, signing, assembling – this is no longer the best way to pay employees or suppliers. Continue reading

Goodbye Paper

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Do you still send invoices, print off emails or write cheques to pay bills? With technology, software and apps, the tools to digitize most or all of your paper needs are now readily available and affordable. To get you started, here are five ways to reduce paper in your office.

Electronic Payments
Interestingly enough when you search the topic online, you will see electronic bill payment right at the top. Guess what? Telpay for Business can help with that one. The more payments you make electronically through Telpay for Business, the less you’ll spend on postage, envelopes and employee time coordinating invoices, cheques, and mailings. You will reduce paper, save money and valuable time.

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Inlett Saves Big Bucks on Payroll and Payables

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Inlett Incorporated manages commercial and industrial properties throughout Western Canada. Wendi Dunstone, CMA and Director, Management Services was tired of using couriers to deliver payroll cheques bi-monthly to approximately 45 staff located in Manitoba, Saskatchewan and British Columbia.

Wendi decided to cancel her outsourced payroll service and process her own payroll. Now she pays Inlett employees with Telpay’s direct deposit and emails their pay stubs, which substantially reduced  courier costs. She no longer stands in line at a bank to pay government remittances, because they are also paid through Telpay.

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Canada Post Price Increase Impacts Businesses Sending Cheques

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On March 31, 2014, businesses sending cheques will see their costs for stamps increase by between 19-35%. The price of stamps and cheque related fees are constantly increasing, so the announcement of a price increase did not come as a surprise. What was surprising was the dramatic increase of stamps – as much as $1.00 when purchasing a single stamp.

The good news is that for businesses already sending electronic payments there will be no cost impact on their business.  On the other hand businesses using regular mail will see a dramatic cost increase.

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