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Faster payments for Canada’s franchise community

Interac e-Transfer® for Business. As an enhancement of the existing Interac e-Transfer service, this tool was built to meet the needs of Canadian businesses and offers higher transaction limits up to $25,000 depending on the financial institution and accounts within each institution, fast money transfers with instant confirmation and rich remittance data, allowing businesses to reconcile transactions with less paperwork. In other words, it can help streamline accounting processes and accelerate back-office modernization.

For franchisors and franchisees, this could mean being able to make just-in-time supplier payments. Real-time payments are confirmed and deposited within five seconds, minimizing the likelihood of late payments and maximizing potential eligibility for supplier discounts. Further, businesses could settle bill payments for regular expenses such as rent or utilities more efficiently. Franchises could also pay federal, provincial, and municipal tax remittances with real time reconciliation to tax files based on the message sent with the payment.

Those interested in using the solution are invited to learn more by visiting Interac.ca/businessIn The Know and to discuss the offering with their financial institution.

Interac and Interac e-Transfer are registered trademarks of Interac Corp.

 

All information listed in this section was submitted by Interac Corp.
Kenilworth Media Inc. cannot assume responsibility for errors of relevance,
fact or omission. The publisher does not endorse any products featured in this article.

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