At Telpay, we work hard on behalf of our customers to collect their supplier’s banking information to ensure they get paid electronically. In the last few years, electronic payments have become the accepted norm rather than the exception. However, on occasion, there is some resistance to receiving payments electronically. Continue reading
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
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.