Modernize Collections with Real‑Time Bank Payments in Canada

Collections teams in Canada need to recover money while staying compliant, reducing call time, and minimising friction for vulnerable customers. Traditional payment methods, such as phone‑taken card payments, mailed cheques, and manual transfers via outdated payment processors, create delays, risk, and higher operating costs. Working with a top payment processor such as Clik2pay that supports real‑time bank payments gives collections teams faster, simpler ways to get accounts resolved.

Card payments over the phone are expensive and prone to disputes or chargebacks, especially when processed through legacy‑only platforms. Cheques take days to clear and can bounce. Manual bank transfers require customers to remember account numbers and often miss the right reference. None of these options is truly instant or easy to track without a modern, data‑rich payment processing solution.

Why Collections Teams Need a Modern Payment Option

Collections and recovery teams in Canada are under pressure:

• Consumers expect digital, self‑serve options.
• Phone and email still dominate, but they’re costly and time‑consuming.
• Taking card details over the phone increases compliance risk and chargebacks.​

At the same time, card and cheque payments often delay actual cash posting, leading to longer DSO and higher operational costs. Modern collections teams are moving beyond traditional methods by offering real‑time, secure bank payments.

What Are Real‑Time Bank Payments for Collections?

Real‑time bank payments for collections allow agents to:

• Send a secure payment link by SMS or email during a call.
• Let the debtor pay instantly from their online or mobile banking.
• Get immediate confirmation that the payment is on the way.​

This works over existing rails like Interac e‑Transfer, so it’s reliable and familiar to Canadian consumers.

Benefits for collections:

• No need to capture card details over the phone.
• Payments are settled in real time, shortening the cash cycle.
• Reduced risk of chargebacks and disputes.

How Collections Teams Are Using Real‑Time Bank Payments

1. Faster Promises to Pay

Instead of relying on “I’ll pay later,” agents can:

• Send a secure payment link during the call.
• Guide the debtor through a quick, one‑click payment from their bank.​

This turns verbal promises into real payments immediately, improving promise‑to‑pay conversion.

2. Lower Costs and Shorter Handle Times

Real‑time bank payments reduce:

• Time spent on payment processing and follow‑ups.
• Manual reconciliation work.
• Back‑office corrections and disputes.

Agents can close more calls per day, and managers can reduce the cost per collected dollar.

3. Better Compliance and Security

Using a secure pay by bank link means:

• No card numbers are shared over the phone or email.
• Payments are authenticated by the customer’s own bank.
• There’s a clear, auditable trail for every transaction.​

This helps collections teams stay compliant with PCI DSS and privacy regulations.

Real‑World Use Cases in Canada

Real‑time bank payments are working well for:

• Collections agencies handling consumer and commercial debt.
• Telco, utility, and subscription providers with in‑house collections.
• BPOs and call centres that manage collections for third parties.
• Loan and finance companies with recovery teams.

Any team that wants to modernize collections while reducing cost and risk should consider this approach.

See How Collections Teams Are Using Real‑Time Bank Payments

To see this in action, here’s a video showing how collections teams are modernizing with real‑time, secure bank payments in Canada: 

Clik2pay For Collections l Modernize Collections l Interac e-Transfer® with Clik2pay

How to Modernize Your Collections Workflow

Here’s how to get started:

1. Work with a provider that offers real‑time bank payment links for collections (e.g., secure Interac e‑Transfer links such as Clik2pay).
2. Integrate payment links into your scripts, SMS templates, and email workflows.
3. Train agents to send links during calls and guide customers through payment.

Improve Recovery Rates and Reduce Costs

Modern collections are about smarter payments.​ Real‑time bank payments help collections teams:

• Increase promise‑to‑pay conversion.
• Reduce handle time and admin costs.
• Stay compliant while offering a better customer experience.

Ready to modernize your collections? Book a collections session to see how our payment solution can fit into your operations: https://clik2pay.com/book-a-demo/