PaymentStream AFT (Automated Funds Transfer) facilitates processing and settlement of pre-authorized debits (i.e. donations, strata fee collection) and direct deposits (i.e. payroll, payments to suppliers).
Members can either use Central1 PaymentStream AFT web-based application to input and process the transactions or create a file in CPA Standard 005 format that can be uploaded to Central1 from member's accounting software.
Payment Stream AFT is a self-serve product. User guides and training videos are provided.
The system offers the following features:
- Ability to send (originate) same-day AFT credits
- Enhanced originator ID limits to assist with risk mitigation
- Real-time file validation during file upload and release process
- For File Upload and Manual Release email confirmations sent only when a file is validated successfully. Automatic release will still get email confirmation if a transmission rejects.
- Added risk controls for dual authorization
- Added risk threshold controls
- Canadian or U.S. dollar transactions can be originated as long as the recipient’s account is held at a Canadian financial institution
- Ability for individual record release
- Ability to release AFT transactions up to 14 calendars days in advance
- Ability to download AFT product reports in CSV and PDF formats
- Increased record retention - up to 18 months of history
Users require 2-Step Security to accessPaymentStream AFT. 2-Step Security is a method of authenticating a user by confirming two factors of authentication: a username and password and a Soft Token on a smart phone. The token is required to access the new PaymentStream AFT application.