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Small businessesPayroll and contractor payments for small businesses.
Run payroll and contractor payments for your small business in Canada from the wallet your customers pay into. Pay a contractor by direct deposit, and your whole crew with one bulk direct deposit.
FINTRAC MSB C100000702Bank of Canada PSP registryWe reply within 24 hours
Here's how money moves through Invincible Pay for a small business. Take Ridgeway Contracting. It renovates homes, buys its materials from suppliers and has a crew to pay.
When a job is done, Ridgeway sends the invoice with a payment link. The customer taps the link, pays by Interac e-Transfer, and the money lands in Ridgeway's Invincible Pay wallet. Every invoice payment lands in the same wallet.
When the materials bill comes due, Ridgeway pays its contractor by direct deposit, straight from the wallet. On payday, Ridgeway runs payroll for the whole crew with one bulk direct deposit.
Payroll and contractor payments shouldn't slow you down. With Invincible Pay, you handle both in a few easy steps.
The company names and amounts in this video are examples.Why payday takes more work than it should
A small business gets paid job by job and pays its people every week or two. Most of the work is moving money between the two.
Waiting on your own invoices
Customers who pay by cheque take days to reach you. Payday comes either way.
One payment at a time
Paying each crew member and contractor separately takes time you'd rather spend on the job.
Limits on a bigger payday
A typical bank caps e-Transfers at around $10,000, so a bigger payroll gets split across days.
Get paid and pay your people from one wallet
Put an Interac e-Transfer request on every invoice, pay contractors by direct deposit and pay the crew with one bulk direct deposit. Send up to $25,000 per e-Transfer, with no daily limit.
- e-Transfer request sentTue, 2:10 pm
- Paid into your walletTue, 2:24 pm
From the invoice to payday
One renovation job: the customer pays the invoice, then the contractor and the crew get paid from the same wallet.
- When the job is done
Invoice with an e-Transfer request
Send the invoice with an Interac e-Transfer request. Your customer accepts it in their banking app, within their own bank's daily limit.
e-Transfer request sentWaiting$2,450.00Invoice 1042 - Usually minutes
Paid into your wallet
The customer pays by Interac e-Transfer, and the money lands in your wallet beside every other invoice payment.
Invoices paid this weekDepositedInvoice 1042$2,450.00Invoice 1043$1,150.00Invoice 1045$2,900.00Invoice 1046$760.00 - Direct deposit
Pay a contractor
When a bill comes due, pay the contractor by direct deposit straight from the wallet. It typically arrives in 1 business day.
Direct deposit sentSent$4,800.00Drywall contractor - Before payday
Pay the crew in one go
One bulk direct deposit pays your whole crew, each to their own bank, from the same wallet your customers pay into.
Bulk direct depositThursday$18,640.009 people
Payday for 9 people, in one bulk direct deposit
One run pays the whole crew, each to their own bank, straight from your wallet.
Direct deposit typically arrives in 1 business day. Send the run on Thursday, and the crew is typically paid on Friday.
| Crew member | Paid by | Amount |
|---|---|---|
| Site lead | Direct deposit | $2,860.00 |
| Carpenter | Direct deposit | $2,420.00 |
| Carpenter | Direct deposit | $2,380.00 |
| Finisher | Direct deposit | $2,540.00 |
| Drywaller | Direct deposit | $2,300.00 |
| Painter | Direct deposit | $1,960.00 |
| Labourer | Direct deposit | $1,640.00 |
| Labourer | Direct deposit | $1,580.00 |
| Apprentice | Direct deposit | $960.00 |
| 9 people, typically paid Friday, October 23 | $18,640.00 |
What we'll ask a small business
For a small business, onboarding is short. We'll ask who runs the business, who you pay, and roughly what moves through it each month.
- The people who own and run it: directors, officers and anyone owning 25% or more verify their identity online.
- What your business does, and who your customers are.
- How you pay your people: how many are on payroll, and how many contractors you pay.
- Your monthly numbers: the invoices you collect and the payroll you send.
- A contact for your account: a name, email address and phone number.
From application to first payment
Apply online
Tell us what your business does and how money moves through it.
Get approved
Our compliance team reviews your file and tells you if anything is missing.
Start processing
Your wallet and deposit details are live, and your first payments can move.
Working for yourself? See how freelancers get paid by e-Transfer request. For the rest of your business, see payments for small businesses.
Payroll and payouts, answered plainly
Let's set up your payday
Show us how you pay your crew and contractors today, and we'll set it up with you. We reply within 24 hours on business days.