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Embrace The Future of Payments With Canada's Leading Electronic Funds Transfer Solution

Access the fastest EFT payment rails to send payouts to your vendors and suppliers and collect funds from clients with complete visibility over the entire process.

Collect one-off or recurring payments and access bank account verification tools through a single platform.

Speak to a Payment Specialist!

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Trusted by Canada's Leading Financial Institutions

Trusted by Canada's Leading Financial Institutions

Fast, Secure & Simple EFT Payment Processing

Send and collect single, bulk or recurring account-to-account bank payments from businesses and individuals anywhere across Canada.

Send and collect single, bulk or recurring account-to-account bank payments from businesses and individuals anywhere across Canada.

Eliminate All Inefficiencies Of EFT Payments

Access VoPay’s EFT payment processing solution by web portal access or through a single API integration.

  • API Integration

    Integrate digital payment solutions directly into your SaaS or digital platform using our RESTful APIs. Tailor-built to scale and white labelled to embed seamlessly into your existing technology stack.

  • Payment Portal

    Secure payments and advanced reporting are accessible through our smart online dashboard. VoPay’s dashboard eliminates the need for manual payment systems, saving your business time and money.

  • Advanced Features

    Access detailed reporting, transaction visibility and automated reconciliation with our data-driven payment technology. Integrate VoPay’s API directly into your ERP or LMS for optimum benefits.

Customizable Payment Flows For High Volume Transactions

Facilitate EFT payments to send or collect bank account verified payments for your business. Design
payment flows to suit your specific business model.

Facilitate EFT payments to send or collect bank account verified payments for your business. Design payment flows to suit your specific business model.

  • send
  • receive
  • mass payments
  • combination

  • Initiate direct bank payments to send money to users or service providers.

    Example: With EFT credits, money is deposited into a bank account, commonly used to pay vendors and suppliers for products and services, issuing loans payouts or employee payroll.

  • send
  • receive

  • Initiate direct bank payments to send money to users or service providers.

    Example: With EFT credits, money is deposited into a bank account, commonly used to pay vendors and suppliers for products and services, issuing loans payouts or employee payroll.

  • mass payments
  • combination

  • Pay, debit, track and reconcile payments to and from multiple customers.

    Streamline the process of pulling or pushing bulk EFT payments. Example: A SaaS platform that charges customers a monthly fee for access to various services through their platform.

Faster EFT Processing Times With VoPay

VoPay offers two types of EFT payment services depending on your business requirements.

*Same-day EFT subject to approval. Terms and conditions apply.

Faster EFT Processing Times With VoPay

VoPay offers two types of EFT payment services depending on your business requirements.

API Integration

API Payment Tools Built For Developer Success

Deployed through a single API, our payment services are customizable and configurable solutions that integrate into your existing software infrastructure.

Tokenized technology enhances security and supported webhooks allow us to communicate with your system, keeping you informed on the status of all transactions.

view api docs get api key
  • cURL
  • JavaScript
  • PHP
  • Python

  • 1curl --request POST \
    2--url https://earthnode-dev.vopay.com/api/v2/interac/bulk-payout \
    3--header 'accept: application/json' \
    4--header 'content-type: application/x-www-form-urlencoded' \
    5--data 'AccountID={AccountID}' \
    6--data 'Key={APIKey}' \
    7--data 'Signature={Signature}' \
    8--data Amount=1000 \
    9--data Currency=CAD \
    10--data EmailAddress=ada.[email protected].com \
    11--data 'RecipientName=Ada Lovelace' \
    12--data 'Question=What is 2+2' \
    13--data Answer=4

  • cURL
  • JavaScript
  • PHP
  • Python

  • 1curl --request POST \
    2--url https://earthnode-dev.vopay.com/api/v2/interac/bulk-payout \
    3--header 'accept: application/json' \
    4--header 'content-type: application/x-www-form-urlencoded' \
    5--data 'AccountID={AccountID}' \
    6--data 'Key={APIKey}' \
    7--data 'Signature={Signature}' \
    8--data Amount=1000 \
    9--data Currency=CAD \
    10--data EmailAddress=ada.[email protected].com \
    11--data 'RecipientName=Ada Lovelace' \
    12--data 'Question=What is 2+2' \
    13--data Answer=4

Integration Support

Your success is our success. Our expert support and development team will help you design your integrated payments experience with dedicated support to keep things running smoothly.

Easy Onboarding

Onboard your customers’ faster using VoPay’s integrated technology. We handle all the security, KYC and data tokenization so you dont have to.

Integration Support

Your success is our success. Our expert support and development team will help you design your integrated payments experience with dedicated support to keep things running smoothly.

Easy Onboarding

Onboard your customers’ faster using VoPay’s integrated technology. We handle all the security, KYC and data tokenization so you dont have to.

Eliminate Failed Payments And NSF With Intelligent iQ11™ Technology

We deliver faster, data-rich transactions using Open Banking powered technology and data analytics. Verify bank accounts prior to the transaction and settle funds into your accounts with complete visibility of the entire process.

iQ11 is availble to existing VoPay clients. Terms and conditions apply.

learn more learn more

Why Choose VoPay's EFT Payment Technology?

  • Developer Friendly API's

    Integrate our payments API into any business model and platform.

  • White-Label Solution

    Customize payment flows to suit your business and clients’ needs.

  • Customer inclusivity

    Payment facilitation for all. EFT bank account payments are widely accepted.

  • Secure Tokenization

    EFT payment data is encrypted and transactions are tokenized to maximize security.

  • Automated Payments

    Save time, reduce errors, and streamline your accounting process.

  • Same-Day Funding

    VoPay’s iQ11 EFT payment solution supports same-day funding.

  • Recurring EFT Payments

    Recurring payments can happen seamlessly with each billing cycle.

  • Reduce Payment Failure

    Average credit card return rates are around 15%, while EFT return rates are typically sub 2%.

EFT Frequently Asked Questions

What is an Electronic Funds Transfer payment?
EFT stands for Electronic Funds Transfer and is the backbone of the Canadian payment industry. Electronic Funds Transfers offer a safe and cost-effective way to electronically credit or debit accounts at any Canadian financial institution in Canadian or U.S. dollars.

EFT payments are not created equally thanks to our mission of digitizing online bank account payments with speed, transparency and traceability. VoPay’s EFT payment solution allows businesses to accept, collect and send digital EFT payments by connecting businesses to financial institutions across Canada. VoPay offers same-day and T+3 days transaction processing. Contact Sales to learn more.
How do I send Electronic Funds Transfer payments in Canada?
EFT payments can be set up through the VoPay payment platform. You can set up one-time or recurring EFT transactions simply using our payment dashboard or single API integration. We use Open Banking technology to bring EFT payments into 2022 and beyond! View our pricing plans or schedule a demonstration with a payment expert today.
What are Electronic Funds Transfer Debits and Electronic Funds Transfer Credits?
There are two parties: the sender of funds, and the receiver of funds. EFT debits (decrease) one person’s account and EFT credits (increase) the other person’s account.

EFT Credits: Electronically pay vendor invoices, bills and employees via account-to-account payments.
EFT Debits: Electronically pull funds from the customer’s bank account on a single or recurring basis.
How do I collect Electronic Funds Transfer payments from my clients?
In order for a business to collect an EFT, you must provide the banking information of the person's account you are debiting the funds from. Using VoPay’s IQ11 EFT service, end users can provide their bank account details once by simply logging into their online banking via a payment link or embedded checkout experience. Similar to a PAD agreement, but a modern digital version. VoPay creates a token for every transaction to protect sensitive data. Businesses can collect single or recurring payments using EFT.
What are the Electronic Funds Transfer Payment Processing Times?
Once a standard EFT transaction is initiated it will follow the following timeline:

Collecting payment: T + 3 business days for funds to arrive
Sending payment: T + 3 business days for funds to arrive

Same-day EFT processing times are available for businesses that require faster receivables. It is important to remember that EFT payment processing in Canada has daily cut-off times.

You can find a list of daily cut-off times here
What are the Pros and Cons of an Electronic Funds Transfer?
Control and Visibility
One of the major disadvantages of using traditional paper payments is the lack of control over the payments. Businesses spend so much time waiting for: customers to review invoices, cheques in the mail and credit card transaction approval. On the other hand, EFT allows businesses to initiate payments from the customer and decide when the payment is withdrawn from the bank account.

Cost-Efficient
Most online credit card processors charge 3% on every payment. It's beneficial to provide more ways for your customers to pay, but at what cost? EFT costs as low as $0.50 per transaction with EFT processors like VoPay only charging a flat fee per transaction, saving businesses thousands of dollars per month.

Flexible, Customer-Friendly Payment Options
Setting up recurring payments and deposits is quick and easy. And your customers will enjoy the convenience of making EFT payments (especially when part of a recurring payments plan), as the customer only has to provide their bank account information once and future payments are fully automated.

High-Level Security
EFT payments are sent from one bank account to another and are sitting at bank-level security. By moving money electronically businesses reduce the risk of paper cheques being lost or stolen and reduce the risks associated with cheque fraud and forgery. By using payment processors or gateway like VoPay, businesses add an extra layer of security by utilizing the measures already in place.
Some of the disadvantages of shifting business and personal banking processes to online systems are the same as upgrading any kind of process. It requires time, research and due diligence to look into security features, cost-benefits and effectiveness of EFT payment options.
Can I try out VoPay technology first?
Absolutely, we encourage our new clients to play around in the VoPay Sandbox, get a feel for our payment technology and see how it can benefit your business before going live into production. Sign up for an API Key today!

EFT Payment Resources

  • A Complete Guide to EFT Payments

    The future of payments is here. Now. Digital payments have arrived. (...)

    read more

  • Top 10 Reasons To Use VoPay EFT Payments

    Electronic Funds Transfer (EFT) is incredibly popular in Canada. At last check it accounted for 77% of total payments — (...)

    read more

  • Developer Zone

    VoPay’s Intelligent EFT / ACH (iQ11) adds a layer of data intelligence to EFT payments to make them faster, (...)

    read more

Ready to take control over your payments?

contact sales create account

Ready to take control over your payments?

contact sales create account

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