Royal Bank of Canada has signed up four utilities for an electronic bill presentment test operated by e-Route Inc., a technology company owned by six Canadian financial institutions.
Brampton Hydro, Maritime Electric, Newfoundland Power, and Oakville Hydro join Bell Canada, National Bank MasterCard, Royal Bank Visa, and TD Bank Visa in the six-month test scheduled to start this month. The service would become available to the public next spring.
"This agreement marks an important milestone in the development of electronic bill presentment in Canada," said Terry O'Grady, senior manager of payment and settlement at Royal Bank.
"The participation of large billers like these four utilities is absolutely vital to developing a bill presentment solution that meets the sophisticated needs of Canadian consumers," said Bryan Kerdman, chief executive officer of e-Route. It was formed in 1998 by Canada Trust, Canadian Imperial Bank of Commerce, Mouvement des Caisses Desjardins, National Bank of Canada, Royal Bank, and TD Bank Financial Group.