Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Telpay Sponsors MEIA Conference: Investing towards Net-Zero

 

As we move back into in-person networking events, MEIA’s annual Emerging Ideas conference covered many pressing environmental issues from the recent COP26 commitments to Covid recovery, from carbon markets to continuing Indigenous communities’ successes and ongoing challenges.  The conference title “NET-Zero Future: Investing in Sustainability” suggests the goal and the path to success.  If we are to achieve net-zero, we must invest.  The “Perspectives from the Next Generation” panel proved that the current crop of Environmental Studies students are information and solution-oriented, creating a cautious optimism so long as the imperatives of change are met.

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Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Evolving Your Payroll Process

The modern workforce is evolving.

Non-traditional work arrangements, such as remote work, freelancing, contract work, and part-time work, are gaining popularity with the introduction of innovative technological platforms, such as Zoom and Microsoft Teams.

According to a survey conducted by Randstad Canada, non-traditional workers already make up to 30% of the workforce and this number is expected to grow. Workers and employers prefer these alternatives to traditional employment for the benefits they can provide. Workers can enjoy the autonomy and flexibility offered by non-traditional work arrangements, whereas employers can engage workers on an as-needed basis and assess the suitability of candidates before permanently hiring them.

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Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Canada’s $100 Billion Problem Has Payment Technology Services Caught In The Middle

As you may be aware, Telpay is registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). FINTRAC is the federal agency responsible for administering the Proceeds of Crime (Money Laundering) and Terrorist Financing (PCMLTF) Act.

As per the PCMLTF Act, Telpay is defined as a Money Service Business or MSB because it engages in the services of “remitting or transmitting funds.” As a result, Telpay is subject to certain reporting, record keeping, and monitoring responsibilities.

Each year, money laundering in Canada represents a $100 billion problem, and the current FINTRAC policies don’t seem to deal with the problem adequately. In this recent Financial Post article, the author writes that the approach to managing money laundering in Canada needs revising.

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Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Preparing for Year End

Light blue photo with two calendars, one dated for 2021 and the other, 2022.

It’s that time of year again – when most of the leaves have fallen from the trees, a distinct chill is in the air, and you’re approaching your corporate year-end. If you are dreading the accounting and bookkeeping that year-end entails, or are not sure where to start, you are not alone.

Five Tips to Prepare for Your Accounting Year-End

We’ve compiled a list of five tips to help make the process easier for you.

  1. Record All Transactions
  2. Do a Bank Reconciliation
  3. Review Your Financial Statements
  4. Check Your Accounts Receivable and Invoices
  5. Ensure employee and supplier information is up-to-date in Telpay

Check Employee and Supplier Information in Telpay

Periodically, but even more so when approaching year-end, check to ensure that the following information you have in your Telpay software is correct.

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Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Telpay Trees Fall 2021 Marking Manitoba’s 150

On National Tree Day, September 22, the Telpay Trees Fall 2021 campaign kicked off with the ceremonial planting of a Manitoba Maple tree on the grounds of the Manitoba Legislature in honour of Manitoba’s 150th anniversary. Premier Goertzen and the Honorable Ministers Guillemard and Cox picked up the shovels as well as Telpay CEO Cora Jalonen and Telpay founder, Bill Loewen. With the Golden Boy overseeing the activities, it was a beautiful sunny fall day to gather together in such a special way.

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