To help simplify the payments process for Canadian businesses, BMO now offers Interac e-Transfer Bulk Receivables, allowing its clients to send near real-time payment requests to multiple recipients at once.
"More than ever before, Canadian businesses are looking for solutions that create efficiencies for their business and save them time and money," said Sharon Haward-Laird, head, North American Treasury & Payment Solutions, BMO Financial Group.
Provides greater control
"With this new digital offering, Canadian businesses have greater control and security when processing payments all while removing the traditional, manual and costly processes of requesting outstanding payments. This is part of an ongoing journey as we continue to invest in and roll out services that deliver great experiences for our clients."
The new program will offer Canadian businesses more control over their incoming payments while enhancing visibility over their cash flow, the company said.
Helps businesses get paid faster
The service helps businesses get paid faster, manage cash flow efficiently and simplify payments.
"Digital payment solutions are an important part of a business' efficient operation and the ability to request near real-time payments from multiple parties at once is one way Canadian businesses can manage their accounts receivable with greater ease and confidence," said Peter Maoloni, vice president, Product & Platform Delivery, Interac Corp. "Interac e-Transfer Bulk Receivables leverages our proven capabilities in fraud detection and prevention, data analytics, direct messaging, and reporting to simplify important daily business transactions."
