The company’s CEO Ian McNeill was suspended and replaced by director Perry Kinkaide, who is set to act as interim CEO. However, McNeill – who had provided funds to the company under a Loan Agreement in order to cover payroll and other essential expenses - will continue to act as a company director. His dismissal has come in the wake of Pay Linx objecting to McNeill addressing a formal demand for repayment of the loan. Company representatives have indicated that Pay Links is currently seeking to secure additional funding in order to continue its operations, however offered no guarantees regarding the outcome of the initiative.
Pay Linx Financial Corporation is 25 percent owned by Royal Bank of Canada and provides payment processing services for Canadian governments via its QuickLinx platform, as well as financial payment services for the Canadian corporate sector.
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