Merchant Login Wednesday February 22, 2012      Press Release DebitWay Announces a Partnership with Remit Anywhere to Provide an Integrated Direct Debit Payment Solution for the Remittance industry Montreal (PRWEB) June 30, 2011 Click here to download this page in PDF format Click Here to view this page on Yahoo.com Anyone from anywhere can now send money anytime. remitAnywhere is adding DebitWay to its existing service by teaming up with Montreal, Quebec-based DebitWay which provides services specifically tailored to the international remittance industry in Canada and abroad by providing Direct Debit Payments (DDP) as well as INTERAC¨ Online Payments (IOP). remitAnywhere Solutions, a North America based software company has developed a unique and innovative online solution to fully automate money transfer activities and processes for the Money Service Business (MSB). MSBs face today amidst increasing regulatory and customer service demands and diminishing capabilities of their existing software systems. Their 10 years of innovative service-oriented approach towards a solution for the MSBs has solved operational and compliance problems by creating new automated processes. The remitAnywhere product is developed to automate and streamline all business entities including Sender, Receiver, Branches, Agents, Payees and Correspondent Banks. The system offers a multi country, multi language comprehensive interface with the capability to both Send and Disburse payments to over 50 countries around the world. There are three integrated components to achieve this functionality. Our goal is to constantly improve the service we offer to our customers" said Tahrir Saani, remit- Anywhere Co- founder and CEO. "By partnering with DebitWay to offer Direct Debit Payments, we believe we have improved both the level of service and security we offer to our global customers." remitAnywhere online person-to-person money transfer portal is possible through the partnership with DebitWay which allows remitAnywhere to accept remittance payments from anyone with a bank account at a participating financial institution, simply by using their existing online banking service. With DebitWay intervention, these online banking transactions take place in real time, with the payment amount and payer's identity guaranteed by their bank in 10 seconds or less. Headquartered in Montreal, Canada, DebitWay.com has become a recognized leader in Debit Card Payment services. Through innovation and experience it has maintained an outstanding track record of bringing groundbreaking products, services and technology to the payment network. DebitWay business model began by offering INTERAC Online Payments exclusively with the following participating financial institutions in order to service any enterprise interacting with online consumers: BMO Bank of Montreal, RBC Royal Bank of Canada, Scotiabank and TD Canada Trust. Today, DebitWay is being recognized World Wide as an international payment gateway by providing an additional 52 banks located in 11 countries on its innovative direct debit payment Network. As a result, online merchants can offer instant Direct Debit payment (DDP), without affecting their existing processing agreements. They simply add DebitWay banking Network payment option to their existing checkout page. Supported by the most trusted associations in the market such as trust companies, credit unions, banks and payment related companies, DebitWay connects Merchants & Internet Users by providing an immediate, secure and effective system to transfer Cash over the Internet. DebitWay continues to specialize in providing payment solutions to many industry types, especially those organizations that have considered traditional online payment solutions in the past, but found them to be too costly. DebitWay key benefits are real-time direct debit payment transaction processing and verification. If you would like more information about this topic or would like to schedule an interview with Rod Tomita, please call 877-332-4802 or Email press@debitway.com. Hide Office Superstore BuyOnlineNow.ca adds Online Payments from DebitWay.ca WEBWIRE - Wednesday, October 20, 2010 Online office supply superstore BuyOnlineNow.ca has added Online Payments (IOP) to its web site by teaming up with Montreal, Quebec based DebitWay.ca who exclusively offers Online Payment Service. By adding , the most recognizable brand in Canada, BuyOnlineNow.ca now offers its customers the most trusted way to pay for office products online - securely from their own bank account. "Our goal is to constantly improve the service we offer our customers" said Bob Herman, BuyOnlineNow founder and CEO. "By partnering with DebitWay.ca to offer Online Payments we believe we have improved both the level of service and security we offer our Canadian customers." DebitWay.ca's business model offers IOP exclusively, which is a separate payment gateway, and does not offer other types of online payments such as credit cards. As a result, online merchants can offer IOP, without affecting their existing processing agreements. They simply add another payment option to their existing checkout page. IOP's key benefits are real-time transaction processing and verification. Currently, participating financial institutions include BMO Bank of Montreal, RBC Royal Bank of Canada, Scotiabank and TD Canada Trust. About BuyOnlineNow: In the US, BuyOnlineNow.com has provided office supplies and office furniture to businesses and consumers since May 2000. Its online catalog includes over 33,000 products stocked in 85 distribution centers nationwide. Opened in March 2007, BuyOnlineNow.ca offers more than 9000 office products for Canadian customers shipping from 5 distribution centers across Canada. BuyOnlineNow was named to the Inc Magazine list of fastest growing companies in America in 2005, 2006, 2007, 2008 and 2009. BuyOnlineNow was also included in Internet Retailer Magazine's Guide to the top 500 online retailers in 2007, 2008, 2009 and 2010. Hide UAE remittance portal gears up for payments MONTREAL--Remittance company UAE Exchange is adding Online Payments (IOP) to its online service by teaming up with Montreal, Quebec-based DebitWay.ca, which provides services specifically tailored to the international remittance industry in Canada. UAE Exchange is a large remittance company which handled a remittance volume of close to US$20 billion in 2009. The company operates in 22 countries and has 470 branches globally, including 5 branches in Canada, according to Debitway.ca. Money2anywhere.com is UAE Exchange's online person-to-person money transfer portal. The partnership with DebitWay.ca will allow Money2anywhere.com to accept remittance payments from anyone with a Canadian bank account at a participating financial institution, simply by using their existing online banking service. With Online Payments' intervention, these online banking transactions take place in real time, with the payment amount and payer's identity guaranteed by their bank in 10 seconds or less. The United Arab Emirates (UAE) is one of the largest remittance corridors globally and growing rapidly, points out Andy Makosz, VP of Business Development at Debitway.ca. UAE's local national population is approximately 22% of the estimated total population of 4.8 million. For example, the NRI (non-resident Indian) population in the UAE alone numbers at least 1 million. DebitWay.ca's business model offers IOP exclusively, which is a separate payment gateway, and does not offer other types of online payments such as credit cards. As a result, online merchants can offer IOP, without affecting their existing processing agreements. They simply add another payment option to their existing checkout page. DebitWay.ca provides IOP services to any enterprise interacting with Canadian consumers. It specializes in providing payment solutions to the financial services industry, especially those organizations who have considered traditional online payment solutions in the past, but found them to be too costly. IOP's key benefits are real-time transaction processing and verification. Currently, participating financial institutions include BMO Bank of Montreal, RBC Royal Bank of Canada, Scotiabank and TD Canada Trust. Hide Credit card firms face Canadian code of conduct TORONTO (Reuters) - Canadian Finance Minister Jim Flaherty unveiled a voluntary code of conduct for the credit and debit card industry on Friday, but said the government stands ready to regulate if business does not regulate itself. "The code of conduct encourages choice and competition. It gives merchants the freedom to choose which card networks they use, helps them control their costs and allows them to pass on savings to their customers," Flaherty said. Small businesses have lobbied for a code of conduct for years, arguing that credit card companies have too much power to hike merchant fees when small businesses need to accept credit cards to remain competitive. Under the code, credit card companies would be required to be more transparent about the cost of transactions, which would allow merchants to offer price discounts if customers prefer to use cash or debit cards instead. The big credit card companies, including Visa Inc and MasterCard Inc, charge vendors fees to use their credit card system, but merchants have long argued they cannot afford to shun the credit cards without losing customers, who like the convenience and reward programs that the cards offer. The code also includes a provision banning competitive co-badged cards and disallows negative optioning, which will likely affect plans by the credit card companies to enter Canada's debit market in competition with the Association, a non-profit grouping of banks, trusts, merchants and others. dominates the country's debit card market, offering a comparatively low-cost payment system that consumers and merchants have embraced to a greater extent in Canada than in the rest of the world. About 60 percent of card transactions here are debit. The credit card companies would like to piggyback on Interac's national network by offering co-badged cards, so that the debit cards are tied to a credit card company. applauded Flaherty's decision to allow complementary, rather than competitive, co-badged debit cards. "It upholds what exists in Canadians' wallets today and, at the same time, enhances the competitive debit landscape in Canada by promoting fair and healthy competition," President Mark O'Connell said in a statement. "Without question, the code helps build (a level playing field) by re-establishing choice and transparency in the marketplace for merchants and consumers, which we support." Merchants, represented by small business lobby groups like the Canadian Federation of Independent Business, fear the credit card companies would soon ramp up fees on use of debit cards as well if competitive co-badged cards were allowed. "We are particularly pleased that government is being proactive in helping to lay the groundwork in advance of major expected campaigns on the part of Visa and MasterCard in the debit card industry," CFIB President Catherine Swift said in response to the new code. "These developments will create a better future for merchants and help ensure a fair and transparent credit and debit card market, instead of just letting large industry players call all the shots," Swift said in a statement. (Reporting by Ka Ya Ng and Andrea Hopkins; writing by Louise Egan and Andrea Hopkins; editing by Rob Wilson) Hide Canada Will Enforce Its Payments Code with Regs, If Necessary (April 19, 2010) After five months of discussion, the Canadian government is out with the final draft of its Code of Conduct for the payments industry. The merchant-friendly code is supposedly voluntary, but proposed legislation could force it upon payments companies that don't adopt it on their own by May 17. "Payment card networks, credit and debit card issuers, and payment processors are now being invited to adopt this code," Finance Minister Jim Flaherty said in a release Friday. "We are confident that they will do so voluntarily. Our government has, however, taken steps in Budget 2010 to ensure that we have the legislative authority to regulate the industry if necessary." Key components of the 10-point code require that merchants be provided with clear information about interchange and discount rates; be given a minimum 90 days' notice of any new fees and fee increases, and be able to cancel contracts without penalty should fees rise or new fees be introduced. Merchant statements are supposed to include detail about effective discount rates, interchange, and fees, and the number and volume of transactions for each type of payment transaction. Merchants also will be able to accept a payment network's credit cards without having to accept its debit cards, and vice versa. Discounts are allowed for any payment method. Regarding the controversial issue of debit cards, the code requires that payment card networks ensure that cobadged, or cobranded, debit cards are "equally branded." In other words, networks aren't supposed to give preferential treatment to one brand over the other when a debit card has more than one network logo. This provision seemingly would prevent banks that issue Visa and MasterCard-branded debit cards from downplaying the Network debit brand, which currently has a near lock on Canada's debit market. Canadian merchants like because of its low cost, and it's very popular with consumers. Merchants fear that banks, especially Visa issuers, are about to unveil new debit cards on the international networks that would cost them more and undercut , which issued a release applauding the code. "Payment card networks will not include rules that require that issuers give preferential branding to their brand over others," the code says. "To ensure equal branding, brand logos must be the same size, located on the same side of the card, and both brand logos must be either in color or black and white." Other parts of the code address premium cards, another sore point with merchants. Retailers say the proliferation of rewards credit cards, which carry higher interchange rates than standard cards, is raising their card-acceptance costs. The code aims to prevent issuers from putting credit and debit functions on one card. Issuers also aren't supposed to give premium cards to consumers unless they apply for or consent to them. The code further says issuers must "target premium cards at a specific clientele who meet specific spending and income thresholds." William F. Keenan, a Wilmington, Del.-based payments consultant familiar with the Canadian card market, says the code doesn't represent a major change in the payments landscape. "It's not going to be a re-composition of the industry," Keenan, chairman and chief executive of DeNovo Corp., tells Digital Transactions News. "You've injected more merchant input, but the merchant is controlled by the consumer." Issuers will be minimally harmed, if at all, he says. But if merchants make credit cards less attractive, they might lose some sales, he adds. The idea for the code came from the Canadian Federation of Independent Business, according to the National Post newspaper. The CFIB issued a release Friday saying that the "small-business community applauds" the code. Canada's banks mostly lay low, though one of the big banking companies, TD Bank Financial Group, said it was pleased with the final draft. "We support this code of conduct for the fast-changing Canadian payments market. TD has supported this concept from the beginning and we will abide by the code," Tim Hockey, president and chief executive, said in a news release. "We believe that this code will give merchants a greater voice in the payments market, while also balancing the interests of the other participants in this industry." Hide TELUS completed the sale of its Assure Pay debit and credit card operations As of December 31, 2009, TELUS completed the sale of its Assure Pay debit and credit card transaction authorization and settlement (point-of-sale) business to CT-Payment Inc. of Repentigny, Quebec. CT-Payment Inc. specializes in the processing of electronic payments. CT-Payment Inc. plans to immediately integrate this offering into its portfolio which is comprised of a variety of e-Payment services that process millions of transactions annually for service companies, retailers and various government agencies. During the transition period, CT-Payment Inc. and TELUS will work closely together to maintain high quality service for all customers. 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