Canada’s Clik2pay, a near-real-time bill payments service, was recently introduced during the Payments Canada SUMMIT, together on stage with the nation’s leading businesses.
Leveraging the Interac e-Transfer service and provided via the Peoples Trust Company, which is part of the People’s Group, the new Clik2pay service allows clients to easily settle bills and invoices from their bank account via text messages, e-mails or even with a QR code.
Clik2pay offers an alternative to more costly options such as credit cards and cheques, and outdated legacy systems like the current bill pay network and various pre-authorized debits.
Michael Bradley, CEO and Founder at Clik2pay, stated:
“More than 40 per cent of Canadians prefer to pay their bills directly from their bank account, but the options to do so efficiently just haven’t been there. As a result, Canadians have relied on credit cards and the existing bill pay network, which 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.”
Companies and charitable organizations issuing bills or invoices may initiate payment requests with Clik2pay through API, batch upload or on an individual basis.
For their clients, there’s no sign up or app download needed and transactions may be carried out in only a few clicks with the highest levels of bank security. Almost all Canada-based financial institutions now support Interac e-Transfer, which means there’s no need for changes or extra integration expenses at the bank level.
In order to demonstrate the functionality of its QR code payment service and to also offer support to a good cause, Clik2pay has introduced a charitable campaign with the Make-A-Wish Foundation, which is an organization that works closely with various communities across Canada.
The Foundation aims to offer children with serious illnesses the chance to realize their most heartfelt wish or desire. Going live at the SUMMIT session and running until Canada Day, each time anyone makes a 5 CAD donation to Make-A-Wish using Clik2pay, the startup will reportedly cover all services charges so that 100% of the donation can flow directly to the Make-A-Wish Foundation.
Clik2pay uses the Interac e-Transfer service, provided via Peoples Trust Company. Interac e-Transfer is a secure money transfer service operating internationally, with transactions protected by layers of bank-grade security.
Howard Klein, President of Peoples Payments and Cards, part of Peoples Group, remarked:
“Exciting things happen when established financial institutions collaborate with paytechs in Canada, and Peoples Trust Company is thrilled to partner with Clik2pay. 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.”
Clik2pay features for companies and charities include easy-to-use APIs, end-to-end payment tracking, real-time notifications, status updates and transaction history APIs – and a settlement file after payments are confirmed.