VoPay Instant

Introducing Real-Time Bank Payments in Canada

VoPay is driving innovation on the leading edge of the Canadian real-time payments landscape. We are excited to announce our newest rail, VoPay Instant that allows you to Push funds in real-time to any Canadian bank account holder.

Enjoy complete visibility over payment flows and real-time transaction updates. Automate reconciliations and access detailed reporting with VoPay’s intuitive platform.

How does it work?

VoPay Instant is a push payment available for use through the API or through the Client Dashboard. In order to facilitate a transaction, VoPay Instant requires the bank information for which the funds are to be sent.

• Businesses only require the recipient’s bank account details to send money.
• VoPay iQ11 can be used to facilitate the collection of bank account details (if you don't already have this information for the recipient).
• These account details are tokenized and can then be used to send real-time payments through VoPay Instant.
• Once the payment is sent, all status updates are reflected via the API and dashboard. The recipient doesn't need to complete any additional steps to confirm the transaction

A maximum of $25,000 can be sent per transaction. It is possible to send multiple transactions to the recipient if the amount to be sent is greater than $25,000. Transaction limit terms and conditions apply.

VoPay Instant Processing times

Through VoPay Instant, you can initiate payments 24/7/365.

Transactions are processed in real-time, and funds are deposited in the recipient's bank account in a matter of minutes (as low as a minute, and up to 30 minutes for some financial institutions).

Use Cases

• Instant Loan Disbursements
• Emergency Funding
• Insurance Claim Payouts
• Healthcare Reimbursement
• Earned Wage Access

Benefits of VoPay Instant

• Real-Time Disbursement of Funds
• Customizable Payment Flows
• White-Label Branding
• Does not require end-user intervention
• Exceed customer expectations with faster payments

Supported Institutions

VoPay Instant covers greater than 95% of Canadian bank accounts through the following financial institutions:

• ATB Financial
• BMO Bank of Montreal
• CIBC
• Coast Capital Savings
• CTBC Bank Corp.
• Desjardins Group
• Envision Financial, A Division of First West Credit Union
• HSBC Bank Canada
• Integris Credit Union
• Island Savings
• Kindred Credit Union
• Meridian Credit Union
• Motus Bank
• National Bank of Canada
• Peace Hills Trust
• Peoples Trust Company
• RBC Royal Bank
• Salmon Arm Savings and Credit Union
• Scotiabank
• Tandia Financial Credit Union
• TD Canada Trust
• Valley First
• Vancity Credit Union
• VantageOne
• Windsor Family Credit Union

The set of institutions continues to grow each month, and we will update this list accordingly.

Transaction and cancellation statuses

Error codes

In the event that invalid banking info was provided to us, transactions are returned with "7 - Failed initialization" error.

Transactions can also be canceled after flag was left unresolved for 7 days.