Central 1 can provide financial institutions and their customers with access to about 8,400 billers through our state-of-the-art bill payment service.
Whether it's integrated seamlessly with our direct banking services (MemberDirect® Services) or as a stand alone system, Central 1's PaymentStream bill payment service allows financial institutions to offer a range of online bill payment options to their customers.
Multiple delivery channels. The payment system architecture guarantees channel transparency and supports online, ATM, telephone and in-branch payments — all of which are processed in real-time or batch mode.
Real-time account validation. Billers’ account numbers are validated in real-time to provide financial institution customers with instant feedback, reducing payment errors and decreasing the amount of time that staff spends on bill payment tracing.
Real-time, self-serve online biller management. Financial institution customers can manage individual biller lists through MemberDirect Online Services.
Same day payment reversal. The system supports same-day payment reversals to correct errors and improve service, while reducing support costs for financial institutions.
Enhanced security. Central 1 has achieved an ISO/ IEC 27001 certification — the highest internationally-recognized security standard available for collecting, processing and storing data. It ensures integrity and confidentiality of systems and data, which is essential when handling sensitive customer information. Central 1 is one of only three organizations in Canada to achieve this certification.
Every year, 61 million online payments are made through online banking websites provided by Central 1