Canadian electronic funds transfer

VersaPay’s electronic funds transfer (EFT) platform lets you transfer money from any bank account in Canada. Does your business write cheques or make electronic payments with wire transfers? VersaPay EFT is an entirely paperless business banking solution that can save you considerable time and money. EFT’s ability to increase profits, improve payment efficiency and seamlessly integrate with financial systems makes it the preferred payment alternative to writing a cheque or using a wire transfer. Speak with a dedicated relationship manager today to learn more about switching to EFT.

How VersaPay EFT works

Electronic funds transfer happens when digital instructions are sent to a bank to transfer money between two bank accounts. With VersaPay EFT, you can complete bulk transactions from your business’ financial software or manually enter one-time transactions with our secure payment processing solutions. With  automation tools for recurring and batch transactions, a secure interface, and direct integration with your existing financial software, VersaPay EFT helps you better manage and approve payments to save time and avoid errors. VersaPay performs transactions immediately, notifying your customers or suppliers when their bank account has been credited or debited. Money is automatically settled from your VersaPay account or can be withdrawn manually. Learn more about how EFT works.

A secure and reliable electronic bill payment system

VersaPay has been offering electronic funds transfer services and custom EFT solutions to merchants in Canada for years. Powered by TD’s robust financial network, our secure electronic funds transfer platform is hosted on fully redundant equipment located in a top-tier data center. Rest easy knowing your customers’ banking details are secure. This also means you face less exposure to the risk of fraud and the potential costs that could hurt your bottom line. Learn more about our Canadian EFT expertise.

Increase profits and save time with electronic bill payments

Electronic funds transfer offers a sustainable payment processing solution to both businesses that process cheques and those who process credit card payments. With no cheques to buy, sign or reconcile, VersaPay EFT customers save time and money when they send and receive payments. Guaranteed to be cheaper than using checks, EFT transfers the burden of NSF fees to your customers, reduces administrative costs and eliminates the need for paper materials. For those who process credit cards, EFT can help reduce reconciliation costs, eliminate chargeback fees, and provide a secure means of making payments for you and your customers. Our user-friendly interface helps you better manage your money. Know exactly when bills have been paid by simply logging in to our EFT platform. Get paid faster as your A/R time goes from NET 60 to NET 1 with recurring billing features and direct bank-to-bank payments. This increase in payment efficiency allows you to take advantage of early payment discounts with your suppliers and reduce your A/R cycle. Learn more about switching from cheques to EFT or get more information on switching from credit cards to EFT.

VersaPay EFT integrates with financial software

Our dedicated technology team will work with you to integrate VersaPay EFT with your current financial systems. We have experience integrating with all of the popular accounting software, including Microsoft Dynamics, Simply Accounting, Sage Accpac and other enterprise resource planning applications. Combining unprecedented usability and a developer-friendly API, VersaPay EFT works well with virtually all payment processing solutions. Learn more about our EFT integration and support.

Does your organization process cheques, wire transfers, or credit cards?

You stand to benefit from VersaPay’s Canadian electronic funds transfer solutions. Request more information or get in touch with a representative today.