Paper-Based Remittance Processing
Along with our electronic-based solutions, Central 1 can accept and clear paper-based bill payment remittances for companies. This is just another example of how Central 1's progressive solutions let you focus on operating your core business, while we handle your day-to-day transaction needs.
Paper-based remittance processing: Central 1 facilitates the consolidation of a biller's paper-based remittances and the capture of images and payment details for remittances received in three possible ways:
- Via a financial institution: Over-the-counter payments made at financial institution branches are routed to Central 1 by use of a CCIN (corporate creditor information number) in accordance with established Canadian Payments Association (CPA) processes.
- Retail lockbox: Central 1 receives and processes the physical remittances (bill stub and cheque) mailed in to a post office box and facilitates the clearing, settlement and reporting.
- Dropbox/pay station: Central 1 receives and processes the physical remittances (bill stub and cheque) from a number of public drop boxes and payment agents (often at a retail location) and facilitates the clearing, settlement and reporting.
Central 1 Technology and Payment Services