Clik2pay, Canada’s first seamless, near-real-time bill payments service is live. The service uses Interac e-Transfer and is offered through Peoples Trust Company, part of People’s Group. This service enables customers to pay bills and invoices from their bank account by text, e-mail or QR code. Clik2pay provides an alternative to credit card, cheque and legacy systems including existing bill pay network and pre-authorised debits.
Clik2pay and Interac: no integration costs at bank level
“More than 40% of Canadians prefer to pay their bills directly from their bank account. But the options to do so efficiently just haven’t been there,” says Michael Bradley, CEO and Founder of Clik2pay. “As a result, Canadians have relied on credit cards and the existing bill pay network. This is cumbersome by today’s standards. Guaranteed payments in near real-time, especially now when segments of the economy are struggling through the pandemic, have benefited our clients and their customers, who can now better contain their costs and manage their cash flow.”
Businesses and charitable organisations issuing bills or invoices can initiate payment requests with Clik2pay via API, batch upload or on an individual basis. For their customers, no sign up or app download is required. Transfers can be completed in just a few clicks using the highest levels of bank security. Nearly all Canadian financial institutions already support Interac e-Transfer. That means there is no need for changes or integration costs at the bank level.
Clik2pay teams up with Make-A-Wish Foundation
To showcase its QR code option and support a good cause, Clik2pay has launched a charitable campaign with Make-A-Wish Foundation. The organisation works with communities to provide children with critical illnesses the opportunity to realise their most heartfelt wish. Kicking off at the SUMMIT session and running until Canada Day, each time someone donates C$5 to Make-A-Wish using Clik2pay, the start-up will cover all services fees so 100% of the donation flows through to Make-A-Wish.
Clik2pay leverages the Interac e-Transfer service, offered through Peoples Trust Company. Interac e-Transfer is one of the most secure money transfer services globally. Transactions are protected by multiple layers of bank-grade security and the highest standards for risk management.
“Exciting things happen when established financial institutions collaborate with paytechs in Canada. Peoples Trust Company is thrilled to partner with Clik2pay,” says Howard Klein, President of Peoples Payments and Cards.
“Clik2pay gives control over payments back to the customer. It makes it simple and fast for them to pay from their bank account and makes it easier for businesses to manage cash flow and reduce the cost of their payments.”