Royal Bank of Canada and Toronto Regional Real Estate Board to bring digital payment solutions to Canadian real estate industry
Royal Bank of Canada (RBC) and the Toronto Regional Real Estate Board (TRREB) are collaborating to bring digital payment solutions to the Canadian real estate industry.
The collaboration aims to help brokerages make fast, seamless and secure payments with RBC PayEdge, a payment platform that simplifies and automates the accounts payable process.
TRREB members using RBC PayEdge will now be able to transform a cheque-reliant payables process into a fully digital one by streamlining transactions and combining multiple funding sources from any Canadian bank account to speed up real estate commission payments. Members can also integrate RBC PayEdge with most accounting and enterprise resource planning software to pay invoices.
“Real estate professionals and brokerages are increasingly looking for ways to overcome the inefficiencies and limitations of traditional, cheque-based payment solutions that make it challenging to operate in a digitally-driven market. With enhanced capabilities like RBC PayEdge, users can unlock the power of a faster, more efficient and integrated payment solution that optimizes their cash flow and allows them to spend more time helping clients find their dream homes,” said Lisa Lansdowne-Higgins, senior vice president, Business Transformation and Deposits, RBC.
RBC PayEdge will enable brokers and real estate professionals to benefit from the shift to digital payments, and eliminate any administrative burden or delays from writing and issuing physical cheques, while providing a traceable record of their transactions.
“Using innovative technology is key for the real estate industry. With RBC PayEdge, our members are benefitting from a digital payment solution that seamlessly integrates a critical part of their business. This tool will effortlessly automate business payments, eliminate manual administration and expedite commission payments,” said John DiMichele, CEO, TRREB.
The collaboration with TRREB is one of the ways RBC is helping clients digitize their payment processes. RBC PayEdge is now available to TRREB members. For more information, click here.