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Finance & Economics

RBC launches real-time payments to business banking clients

Aug 09, 2021

Interac e-Transfer for Business will be available to eligible RBC Express clients

RBC

RBC launches real-time payments to business banking clients. Source: shutterstock.com

RBC has launched Interac e-Transfer for Business, an enhanced solution that offers real-time, data-enriched payment capabilities to business banking clients.

The news solution provides clients with the ability to instantly send and receive money. Through Interac e-Transfer for Business, customers can now initiate and receive payments 24/7. Transactions are processed in real-time and funds are available immediately so that businesses can access these funds when they need them.

Besides, Interac e-Transfer for Business enables flexible payment routing. By offering the option to send and receive payments using a recipient’s account number, email address or mobile phone number, the solution provides clients with the ability to easily transfer funds in the way that’s most convenient for them, their clients and their suppliers.

Along with that, customers get transparent access to payment data. It would save businesses time and money, while including important payment data such as invoice details, sender messages and other payment information with each transaction through a globally recognized ISO 20022 standard.

Fast, efficient payments are critical to the operational success of a business in a digital, always-on economy. By introducing greater speed, flexibility and valuable insights within the payments process, Interac e-Transfer for Business helps businesses optimize their cash flow, shift from time-intensive paper cheques, and drastically simplify their accounting reconciliation process. RBC is proud to offer this latest enhancement as part of our continued efforts to foster market-leading payment innovations and digitally-enabled banking experiences for our clients. In doing so, we’re making it easier for our clients to bring their big ideas to life, spend more time with customers and focus on growing their business
Ramesh Siromani, Senior Vice-President, Enterprise Payments at RBC

We’ve reported that Amazon rolled out two new Fulfillment by Amazon programs in Europe.

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