TelPay Incorporated

TelPay Incorporated

October 25, 2005 09:11 ET

TelPay Incorporated: Pioneering Winnipeg Businessman Wins 2005 Distinguished Treasury Award

WINNIPEG, MANITOBA--(CCNMatthews - Oct. 25, 2005) - TelPay Incorporated -

TelPay's Bill Loewen continues to lead innovation in financial services industry

The Treasury Management Association of Canada (TMAC) has named Winnipeg businessman Bill Loewen, Chairman of the Board of TelPay Incorporated, as the winner of its prestigious Distinguished Treasury Award.

Loewen, who received the Order of Canada in 1999, was the founder of Comcheq in 1968, Canada's first outsourced payroll provider. He later invented the e-payment process, went on to found TelPay e-Payment Services in 1985, and continues to lead innovation in the financial services industry today.

The annual TMAC Distinguished Treasury Award was established in 2003 to recognize individuals who have distinguished themselves in the field of treasury and financial management. Previous winners include Ron Matthews, Manager, Cash Operations, Imperial Oil Limited, and Ken Foxcroft, Deputy Chairman, TD Securities.

"Bill Loewen was selected from a list of prestigious nominees that have all had a significant impact on the field of finance in this country, as well as strong dedication and support to communities they live in," said Mike Whiston, President of TMAC.

"I'm very happy with this award, and very honoured to be counted with the previous winners," Loewen said from his Winnipeg office. He was quick, however, to credit others. "It's one thing to have invented the e-payment process, but it was the early adopters who helped move it forward. That includes many members of TMAC who accepted very low volumes of payments, sometimes in inconvenient form. Today, I'm happy to say, they are receiving payments in the millions monthly, feeding straight into their computer systems."

Loewen recently turned 75-years-old but he is still active in the day-to-day business of TelPay. Although he has considered retiring on at least three occasions, the process of innovation keeps him coming back. "With so many opportunities to advance our technology it is hard to walk away," he says.

TelPay e-Payment Services processes 17 million e-payments annually, totaling $6.5 billion to thousands of companies, enabling financial institutions and consumers and businesses to make e-payments to anyone, anytime, anywhere in Canada. TelPay creates technology and provides services that make it faster, easier and more cost effective to pay bills and receive payments electronically. Founded as a division of Comcheq Payroll Services in 1985, TelPay provided Canadians with their first "bill-payment-by-phone" experience. Today, TelPay serves 250 financial institutions and thousands of businesses, making it the country's largest, independent e-payment provider.

The Treasury Management Association of Canada (TMAC) is the premier resource for the advancement of the treasury and finance profession. TMAC is a federation of 14 regional associations of professional treasury managers whose members are responsible for treasury functions in the multi-billion dollar Canadian market-place including cash flow analysis, cash management, e-commerce, foreign exchange, money markets, risk management, short and long term borrowing and investing, trade finance and more. Members are mostly from Canada's medium and large-sized organizations in the public and private sectors.

For more information about TMAC:

Visit TMAC on the web at: www.tmac.ca

Contact Information

  • TelPay Incorporated
    Sandi Falk
    Executive Assistant
    (204) 957-2800
    www.telpay.ca