FIRST Canada Launches Interac e-Transfer® Bulk Receivables in Collaboration with AcordPay
TORONTO, ON - NOVEMBER 23, 2020
FIRST Insurance Funding of Canada (FIRST Canada), the industry leader in payment solutions, is pleased to announce the launch of Interac e-Transfer® Bulk Receivables in collaboration with AcordPay.
FIRST Canada is the first in the insurance industry to offer its brokers the ability to request payment with Interac e-Transfer. Now FIRST Canada brokers banking with Royal Bank of Canada can offer their clients the convenience and security of Canada’s most popular real-time funds transfer service, Interac e-Transfer.
FIRST Canada brokers have the ability to integrate Interac e-Transfer into their Payment Options Form, providing brokers and their clients with one streamlined and efficient process. Interac e-Transfer Bulk Receivables also makes reconciliation easier by providing the option to include policy or client identification, and deposits the funds directly into the brokers’ trust account. Brokers requesting payment via Interac e-Transfer improve their operations by receiving payments faster, improving their cash flow, and reducing their receivables.
“We invest significantly in innovating payments in Canada,” said Stuart Bruce, CEO of FIRST Canada. “In collaboration with AcordPay, now our broker partners can improve their operations while delivering an exceptional client experience.”
“AcordPay is proud to facilitate a new level of efficiency and control in managing a business’ receivables and cash flow,” said Mike Senechal, CEO of AcordPay. “We’re thrilled to join with FIRST Canada to advance the payment options available to brokers and their clients.”
Brokers looking to incorporate Interac e-Transfer Bulk Receivables into their business are invited to visit firstinsurancefunding.ca/interac.
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AcordPay is the leader in insurance payments technology, providing a suite of payment solutions for collecting premiums (Credit Card, Debit Card, ACH, EFT and Interac), managing the receivables lifecycle, settling with markets and paying claims, policy refunds and vendors. Brokers, MGAs, Carriers and other insurance solution providers rely on AcordPay's payments-as-a-service platform to ensure flow of funds throughout the insurance policy lifecycle. With offices throughout North America, the insurance industry relies on AcordPay to process billions of dollars per year in digital payments.
FIRST Insurance Funding of Canada (FIRST Canada) provides the Canadian Insurance Market with comprehensive payment solutions. Brokers, MGAs, and carriers can partner with FIRST Canada and expand their offering to provide more value, choice, and convenience for all of their clients. The combined strength of FIRST Canada’s dedicated team, evolved offering, and innovative platform positions its partners to meet the demanding future of the Canadian Insurance landscape armed with market-leading solutions for success. FIRST Canada is part of Wintrust (Nasdaq: WTFC), a financial services company with more than $43 billion in assets and a part of the largest premium finance companies in North America. For more information, visit firstinsurancefunding.ca.