Electronic-Based Remittance Processing & Bill Payment
With over 6,900 billers on Central 1's bill payment list, businesses from coast to coast can leverage our bill payment remittance processing service to receive bill remittances electronically on behalf of their customers. This customer-friendly bill payment solution is closely integrated with MemberDirect® online banking services.
Electronic remittance processing facilitates the consolidation of electronic remittances and the reporting of payment details and settlement to a biller in one of two ways:
- Via a one-to-one relationship: Businesses/billers can be added to Central 1's proprietary database of over 6,900 billers and have electronic bill payments transacted at participating credit unions (and selected other financial institutions in Canada) consolidated and settled to their account.
- Via Lead Bank Services: Central 1 can act as a lead bank for a biller and consolidate all electronic bill remittances received from credit unions and all other financial institutions (routed to Central 1 via the CCIN - corporate creditor information number). It also delivers payment details to the biller and provides settlement to the biller's account. From a bill payment perspective, the biller only has to interface with only one financial institution.
Central 1 Technology and Payment Services