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As a full service payment processing organization, we offer financial institutions and our corporate clients a wide variety of electronic payment solutions. Our suite of electronic payments offers speed, accuracy and flexibility. We help our clients streamline their payable processing with a variety of easy-to-use, technologically-advanced electronic payment options.

Detailed description:

Customer Automated Funds Transfer (CAFT)
Automated Funds Transfer (AFT)
Wire Transfer Payments
Electronic Bill Payments
ATM/POS Settlement & Reconciliation

Customer Automated Funds Transfer (CAFT)

Originating pre-authorized debits and direct deposit transactions (alternatively referred to as AFT payments) has never been easier.

By using our online CAFT service, you can create transactions anywhere, anytime through paymentsanytime.com®, our secure website portal.

This service enables our clients to initiate payment transactions to/from their paymentsanytime.com® creditors/debtors for:

  • Payroll
  • Accounts Payable
  • Accounts Receivable
  • Utility Bills
  • Business/Property Taxes
  • Membership Payments
  • Mortgage/Rent Payments
  • Lease and Loan Payments

CAFT is fast, user friendly and cost effective. It was designed for maximum convenience with many value-added features:

  • Safe and secure
  • Compatible with many accounting software packages
  • No additional hardware or software required
  • Online editing, help, reporting
  • Audit trail
  • Multiple due date frequencies
  • Automatic due date calculation and release
  • Flexible search criteria
  • No limit on the number of users
  • Multiple user permission levels
  • Mass changes/updates
  • E-mail acknowledgement
  • History viewing
  • No minimum number for transactions
  • Auto representment
  • Pre-settlement

Automated Funds Transfer (AFT)

The AFT system is designed to enable the processing of transactions exchanged electronically with other financial institutions through the Canadian Payments Association (CPA) Data Transmission facility. Pre-authorized debit and credit transactions are exchanged twice daily between financial institutions. Transactions may be exchanged in CDN or US funds. This system provides many value-added services such as:

  • On line transaction and/or file recalls
  • On line returns
  • On line error corrections
  • On line corrections of edit rejects (route & transit information only)
  • Reporting
  • Settlement

Wire Transfer Payments

The Wire Transfer Service facilitates the quick and efficient transfer of funds between domestic and international financial institutions. The Wire Transfer system is a user- friendly web based application accessed through paymentsanytime.com® that our clients use to originate requests. Wires can be sent within Canada, to the USA and to over 100 countries around the world in over 91 different currencies. This end to end solution encompasses:

  • US and International wires sent to correspondent banks
  • Same day value
  • Advanced search facility
  • On-line editing to promote straight through processing
  • Tiered levels of user authority
  • Automated settlement in Canadian and US dollars;
  • Email notification of incoming wires
  • FINTRAC compliant
  • Cross field validation to ensure accuracy and completeness; and
  • Lookup tables for ease, efficiency and accuracy of data input

Electronic Bill Payments

We offer consolidated bill payment services (made via Internet or telephone ) and remit the payments to the creditor’s lead bank provider. Our extensive biller list has over 1500 creditors including Canada Revenue Agency (CRA) This full service includes:

  • Creditor Account validation
  • Client Reporting
  • Automated settlement

ATM/POS Settlement & Reconciliation

We offer ATM/POS settlement and reconciliation. The service provides:

  • Settlement with Interac members
  • Settlement with Mastercard International and PLUS
  • Reconciliation of transactions with Interac members

Our Service offering includes performing adjustments to the branch level as well as efficient investigation of tracing requests.

CUPS Payment Services currently provides this service to Credit Union Central of Canada. In addition we provide regional processor support for ATM acquired transactions in partnership with Celero Solutions, our Information Technology Service Provider.