If we take a consumer and business subscription based company like a water delivery company that has a monthly billing cycle and has a customer base of say 5,000 that are billed, has no website payment functionality and only 10% are on an autopay monthly recurring debit, we might expect that at least 1,000 that call into the company to remit payment over the phone.Canada ACHAn electronic retail payment solution available 24/7/365 and resulting in the immediate or close-to-immediate interbank clearing of the transaction and crediting of the payee’s account with confirmation to the payer (within seconds of payment initiation). This is irrespective of the underlying payment instrument used (credit transfer, direct debit or payment card) and of the underlying arrangements for clearing (whether bilateral interbank clearing or clearing via infrastructures) and settlement (e.g. with guarantees or in real time) that make this possible.View More
