One thing we probably do not focus enough on here at Telpay is our ability to let our clients manage their accounts receivable through pre-authorized debits (PADs). Imagine having all your accounts receivable collected on a single day with virtually no effort. That is what PADs can do for you.

Payments Canada has a set of PAD rules and standards that all businesses have to follow. These rules protect the account holder from abuse. However, as long as requirements are met, this is a service of significant advantage to everyone.

PADs are the best option to use when collecting recurring payments such as rents, mortgages, monthly fees, and insurance premiums. However, regular monthly billings such as bookkeeping and accounting service fees, professional and club dues can also be collected by this method. You must have your customer’s permission to debit their bank accounts. PAD samples used by our clients are reviewed to make sure they meet the requirements established by Payments Canada. Getting that permission is most often built into your agreement with your customer.

With Telpay for Business electronic payment software, you can efficiently manage your collections list, import a collection file, and maintain the collection file. If you are an existing Telpay for Business customer, to get started all you need to do is apply for the PAD service. There is a setup fee and transaction fee, but no extra monthly fee, making it even more affordable to use.

Here are some tips for a successful implementation of PADs:

1. Make sure your billings are of a type that suits the requirements of Payments Canada. Only recurring types of billings are permitted.

2. Get permission from your customers to debit their bank account using the required form.

3. Notify your customers when you are ready to begin debiting them. Telpay notifies its customers that they will be debiting approximately ten (10) days in advance of actual debit. This gives your customers time to view your bill before they are debited.

4. With our PAD service, you send us a file of your monthly debits. Telpay will then debit your customers on the day specified and forward the funds to your bank account as soon as they are cleared. Typically there is a four (4) day hold.

To learn more about PADs, contact 1-800-665-0302 or visit telpay.ca/for-business/get-paid.

CPA Manitoba featured our very own founder Bill Loewen in their email newsletter.

Read the full article here.

Telpay’s all-in-one payment system, Telpay for Business has more features than you may know. Which features are you using and which ones are you not? More importantly, which features are the right fit for you and your business?

For example, Telpay for Business not only processes payroll direct deposit but it also allows you to make payments to anyone, anywhere.

• Pay suppliers, vendors, consultants, utility bills such as phone, hydro, and credit cards.
• Make CRA payments and government remittances with approved payment details.
• Send payments overseas with our International Payments module.
• Make USD payments from a Canadian USD bank account with the USD Payments module.
• Use the Remote Authorization feature built right into our software to approve payments from virtually anywhere!

We have these and many more features to help you streamline and manage all your business payments. Join a webinar to find the right fit for you!

February Webinar Giveaway

Register and attend any Telpay webinar in February to learn all of what Telpay for Business can do for you and your business. You’ll be entered to win a Fitbit Blaze! Attend more than one webinar to increase your chances to win.

• Payroll Direct Deposit
• Payables and Funds Transfer
• QBO Payables Integration
• QBO Payroll Integration
• Remote Authorization Set Up
• Government Remittances
• Pre-Authorized Debits
• USD Bill Payments
• International Payments

PLEASE NOTE THAT ALL WEBINARS ARE SCHEDULED IN CENTRAL TIME. Please adjust the webinar start times according to your time zone.

Giveaway Rules, Terms, and Conditions
– The Contest is open to Telpay for Business Customers and ASP Partners and Elites only. All entrants must be 18 years of age or older.
– You will receive one entry per FULL webinar attended.
– Winner will be contacted on March 5, 2018, via the email or phone number used to register for a webinar.
– The prize is non-transferable. No substitution or cash equivalent of prize is permitted.
– See complete Contest Terms and Conditions

BORIS MINKEVICH / WINNIPEG FREE PRESS

This year marks the 50^th anniversary of our very own founder Bill Loewen in the electronic payments industry.  Interviewed by Martin Cash of the Winnipeg Free Press,

“An incessant innovator who’s always been just a little ahead of his time, even this year, the 50th anniversary of the start of his first business, Comcheq Inc.”

Read Full Article Here