The cost of a transaction is borne by the individual or business choosing to make their payment using PaySimply. Your educational institution will never be charged a fee for our service.
We add a small convenience fee on top of your student’s payment amount that goes mostly towards covering our processing costs, while leaving us a modest margin to maintain our service. The fee we charge is made transparent at several points throughout the payment transaction process, and varies by the method of payment they select:
Credit card 2.5%
PayPal 2.5%
Interac eTransfer 1.0%
In-person cash/debit card at Canada Post $3.95 (payment amounts between $1-$1,000), $5.95 ($1,000.01-$2,000), $7.95 ($2,000.01-$3,000)
Installment loan (Through third-party lender PayBright at disclosed APRs. Available for payment amounts between $1,000 - $15,000)
We would send you a direct web link url (e.g., paysrc.ca/<your muni’s name>) that you would include on your municipality’s payment options web page, bill mailings, and/or wherever else you promote how to pay taxes and utility bills to your residents. Upon clicking this link, your resident would be redirected to the Account Details page in PaySimply.ca that’s specific to your municipality and then input the information required to make a payment.
We compel whoever is making the payment to include the account holder name and roll/account number when completing a PaySimply transaction, and then pass that information along to you in a report. We use account validation criteria you establish for the Account Number field to help reduce the chance of mis-allocated payments.
If your organization has signed up to receive online bill payments with their bank, PaySimply transactions to your municipality will be indicated in an ‘Other Originators’ report you will receive from your bank as part of their standard reporting service (i.e., via EDI, fax or email). ‘PAYMENT SOURCE INC.’ will be identified as the ‘Bank’ from where the payments originated. If your organization does not subscribe to online bill payments from their bank, PaySimply will email you a transaction report directly. In either case, transactions will be itemized and include account name, account number, and payment amount so that you will be able to match the funds deposited to your account with the corresponding payment information for reconciliation purposes.
Once we receive the funds from your resident’s payment, we deposit them via EFT to your municipality’s bank account. Depending on the method of payment used by the individual making the payment, the maximum processing time is 3 business days from the date the payment is made to the funding of your account.
We would provide you with two distinct, direct links to your municipality’s Account Details pages on PaySimply.ca - one for each of taxes and utilities - that you would promote to your residents. Payment funds would automatically settle to their corresponding accounts.
Residents would call our Canadian-based bilingual customer service centre (1-844-440-7777) for any transaction inquiries. We email our clients a receipt after they’ve made their payment that includes a transaction number they can reference when contacting our customer service centre.
Our company, Payment Source Inc., is the ‘merchant of record’ for PaySimply, and is therefore responsible for the management of payment disputes while assuming the risk of any chargebacks. Funds are yours once deposited to your account. In the rare instance a payment is mistakenly made to your municipality, a funds reversal can only occur with your written authorization.
PaySimply does not store any payment information, and personal information is encrypted to offer your residents the highest level of online security.
Not at all. PaySimply (actually, Payment Source Inc.) is already included in the legal framework in place that contemplates the banks and financial institutions you have authorized and enabled to deposit funds to your account(s) for online bill payments.
While of course every municipality’s by-laws are different, some have language preventing them from directly accepting credit cards for tax payments. As the third-party ‘merchant of record’, Payment Source Inc. is accepting credit card payments from your residents, not you. By promoting the availability of an alternative third-party payment service like PaySimply, you are giving your residents the option to pay their taxes and utility bills by credit card without directly accepting the transaction yourself and potentially being offside your payment acceptance rules.
No but we plan to enable this service to our Mobile App in the near future.
Credit card
Interac e-Transfer®
Pay with cash or debit at Canada Post
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