Providing Canada with modern payment service solutions
The payments landscape is rapidly evolving – along with the needs of Canadians who depend on it.
To successfully adapt to these changes, Prairie Payments Joint Venture (PPJV) is taking a bold, innovative approach.
Our goal is digital transformation. We are creating modernized payment solutions, developed in tandem with country-wide transformations including the Payments Canada modernization initiative.
PPJV offers comprehensive payment solutions designed to be compatible with any core banking system and digital platform. This approach enables financial institutions to offer their customers the latest digital payment technologies in an efficient and cost-effective manner.
Focusing on tomorrow’s solutions today
PPJV’s payment services include:
Payment Processing, Clearing & Settlement Support
Our solutions enable financial institutions to quickly and easily connect to Payments Canada, Interac, and related services.
Fraud & Risk Management
Our fraud service desk and compliance support help organizations and institutions mitigate risk.
ISO 20022 Data Compliancy
We enable organizations to leverage all the rich payments data that come along with ISO 20022.
Why choose PPJV for your payment needs?
PPJV’s strategic partnership with IBM ensures we can successfully deliver innovative payments solutions.
Through custom integration and comprehensive client onboarding, our platform integrates seamlessly with any core banking system or digital interface.
We are committed to meeting the evolving needs of all financial institutions. Our approach is collaborative, customized and comprehensive – from integration through to client onboarding, we deliver payments excellence to our customers.
Products & Services: at a glance
PPJV provides the comprehensive solutions you need to deliver modern, efficient and safe payments.
Automated Funds Transfer, or AFT, is a banking arrangement where transfers from one account are made on a regular, periodic basis to move money from one account to another. It is offered by most financial institutions.
AFTs are also commonly used by corporate customers within Canada to transfer lower-value funds across financial institutions. AFTs have rules and regulations governed by Payments Canada.
AFTs fall under two categories:
1. Direct Deposits
Credits sent to an account at a financial institution (e.g., payroll deposits).
2. Pre-Authorized Debits
Debits drawn from an account at a financial institution to meet recurring payment obligations (e.g., membership dues).
PPJV’s seamless AFT offering is still being developed and more details on this product will be shared soon.
Bill Pay involves the transfer of funds from a customer to a vendor. Transfers are scheduled on a predetermined date and used to pay a recurring bill.
The transaction is usually set up by the customer via online banking to automatically cover payments for the services received during a billing period.
Bill Payments such as CCIN, non-CCIN, AGLC, CRA, provincial taxes, and lead-bank services are all included in PPJV’s Bill Pay offering.
PPJV’s platform hosts all Bill Payments, enabling streamlined Bill Pay and enhanced reporting for financial institutions.
Cheque is a bill of exchange, consisting of a written and signed document that orders a financial institution to pay a certain amount of money from the payer’s account to the payee it has been issued to.
There are multiple types of cheques including certified cheques, cashier’s cheques, and paycheques.
PPJV is working closely with system partners to deliver a comprehensive cheque solution, with more details coming soon.
Interac e-Transfer is a digital money-transfer platform. It provides a fast and safe way for Canadians with a bank account and email address or phone number to transfer money directly from one bank account to another within Canada.
PPJV provides Interac e-Transfer options for retail and business. All PPJV clients have the ability to connect to the Interac e-Transfer platform and enable their business and personal members to send and receive money securely in several ways: Person-to-person; person-to-business; business-to-business; and business-to-person.
Clients can rest assured that when using PPJV’s connection to the Interac e-Transfer system, their transfer volumes can be managed, tracked, and protected by PPJV.
Wire transfers move money electronically across a network of banks, agencies, or transfer providers. Transfers can occur from one person to another, both domestically and internationally.
Wire transfers are generally paid for by the sender and can take up to two days to process.
Wires are also monitored to ensure:
- Funds are not being wired to terrorist or criminal organizations.
- Funds are not being used for money laundering purposes.
PPJV’s Wires solution is still in development. It will support multiple types of wires with comprehensive tracking and reporting as needed.
The PPJV Fraud Service Desk manages all Interac and credit union notifications, along with the case management support that enables a 24/7 Interac Monitoring Detection System.
The desk utilizes automated fraud alerts to better manage case management and notifications for Interac e-Transfer transactions.
This means that fraud alert notifications are automated and sent to the credit union immediately upon receipt from Interac’s system, in 24/7 real-time, which ensures PPJV supports all clients in keeping client funds and data safe.
Safer Payments is an anti-money laundering (AML) transaction monitoring and fraud prevention solution offered by IBM.
It enables fraud prevention teams to detect fraud with the necessary speed and accuracy, and includes analytics, simulation and monitoring tools.