Credit Unions Online Payment Service Most Comprehensive in Canada

Wednesday 10 November 2004 21:51 CET | News

Ottawa-based CS CO-OP, one of Canadas largest credit unions, has launched Pay Anyone services, made possible by TelPay Incorporated.

CS CO-OP can now boast that the payment services offered through their online banking site, are the most comprehensive in the country. TelPay Online is the name of the ground-breaking payment technology that enables CS CO-OP to offer these competitive services to their members. TelPay developed the technology with the ability to integrate with any internet banking application in Canada. In the case of CS CO-OP, TelPay Online has been integrated with the MemberDirect® online application. Be it a payment to the dentist, nursing home, or tax department or a donation to the church, an art gallery or food bank - CS CO-OP members can now go to their online banking site and make 100% of their payments electronically. Online payments can arrive at their destination by the end of the next business day and are accompanied by whatever payment details the sender wishes to include. CS CO-OP members log into and by clicking on the e-payments option, now have the ability to: i.e.) Send money from their account to any financial institution account in Canada ii.) Make a next-business-day payment to ANY biller in the country, regardless of the billers size iii.) Pay their government remittances electronically (including payment details). Payments are completed within the familiarity and security of CS CO-OPs online banking site. In a world of B2B and B2C acronyms, this service represents a true application of A2A (Anyone to Anyone) technology. The person or organization receiving the funds doesnt need to take any action or have access to a computer. If they have a name and address, or an account at any Canadian Financial institution, an online payment can be sent to them. TelPay is currently in the process of developing integration with several other internet banking system providers and expects to see many of their 250 financial institution customers begin to offer similar e-payment services in the near future.

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Categories: Payments & Commerce | Payments General
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