Scotiabank offers real-time payments in Canada through Interac e-Transfer for Business

Thursday 10 December 2020 12:48 CET | News

Canada-based Scotiabank has announced it will be offering real-time payments for all business banking customers, using Interac e-Transfer for Business.
This, along with data-based remittance information will help businesses to pay one another and reconcile transactions in real-time. The solution will be using flexible routing options like an account number or email address.

Transactions are processed in real-time, with confirmation of payment delivered within 5 seconds and funds available to the recipient on the spot. The ability to route the payment through various options can provide security, by directly sending and receiving payments. For example, the ability to send directly to a bank account can use payment information already on-file for transactions.

Businesses can include invoice information, remittance details and send higher amounts compared to traditional Interac e-Transfer transactions.

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Keywords: Scotiabank, product launch, Canada, Interac e-Transfer for Business, remittance, invoicing, payments , real-time payments
Categories: Banking & Fintech
Countries: Canada
This article is part of category

Banking & Fintech