Companies Checking Out E-Payments

October 22, 2007 from CFO.com – “Corporations are gradually shedding their unease with electronic payment methods, an evolution that likely will accelerate over the next few years, according to a new report from the Association for Financial Professionals.

The typical organization still makes 74 percent of its business-to-business payments by check, but that’s down from 81 percent in 2004, said the association, which in September surveyed 493 corporate financial professionals about their payment practices…”

180 View – I (Michael Burns) recently reviewed Telpay for a presentation at the Financial Technology Show. Telpay is an electronic payment system that allows Canadians to pay any bills both nationally and now internationally. Telpay processes 22 million transactions worth $10 billion annually. If Telpay does not have electronic account information, they will cut the cheque the old fashioned way.