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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