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  • Canara

  • Canara Collection & Payment Services (CCPS)
  • Improved Working Capital: Faster collections and efficient payments results in better working capital management.
  • Lower Operational Costs: Shifting from manual to digital processes reduces expenses.
  • Better Supplier/Customer Relationships: Faster, more reliable payments and flexible payment options improve relationships with customers.

Effective bank collection and payment services are crucial for optimizing cash flow, reducing operational risks, and improving customer experience. Key features of solution focus on automation, speed, security, and integration, enabling businesses to move from manual processes to real-time, digital solutions.

Our solution is broadly divided under two heads namely COLLECTIONS and PAYMENTS with Value Added Services (VAS)

  • NBFC / Asset Management Company / Insurance Company etc - where Periodic and recurring nature of collections/ Payments are required
  • Govt, semi-Govt and Ltd. Companies having inflow (collection) or outflow (payment) of funds
  • All Business Organizations/Firms having bulk inflow (Collection) or bulk outflow (Payment)- Physical/Digital
  • State Education Boards / Central University / Private Deemed University- Course fee, Examination fee and others
  • Land Development Authority/Municipal Corporation/Tax Collection Departments
  • Electronic Collection Methods: Promote Pay-by-Link (SMS/Email), QR codes, Mandates and virtual accounts to speed up receivables compared to cheque processing.
  • API-Based Integration: Integrate bank services directly into the client’s ERP/CRM system to achieve automated reconciliation, reducing manual errors and saving time.
  • Virtual Account Management: Provide unique virtual accounts for every customer, allowing for automatic identification of received payments and instant reconciliation.
  • Alternative Payment Methods (APMs): Support a wide range of payment methods, including NACH, DDF, VAM, UPI AutoPay, Cheque Collection etc. to meet changing consumer preferences.
  • Real-time Processing: Immediate settlement capabilities (e.g., IMPS, UPI, NEFT, RTGS, NACH) over traditional batch methods to improve supplier and employee satisfaction.
  • Bulk Payment Solutions: Enable processing of thousands of transactions at once, such as for salary, vendor payments, or dividend distribution, Cheque Writing, DD Issuance through API-driven platforms.
  • Automated Payment Scheduling: Set up recurring payments (e.g., NACH-Credit, UPI Payout) to eliminate manual intervention and reduce missed payment penalties.
  • Security & Compliance: Emphasize robust AI-powered transaction monitoring, ISO standards, and strict adherence to anti-money laundering (AML) laws.
  • ESCROW Account
  • RMS - Receivables Management Services
  • LMS - Liquidity Management Services

Mail: hoccmssection@canarabank.com

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01-04-2026 01:15 AM

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