RBC PayEdge® — Getting Started | Accounts Payable Automation Platform

John Champ

— 9 min read
RBC PayEdge® — Getting Started | Accounts Payable Automation Platform

What Is RBC PayEdge?

RBC PayEdge is an innovative accounts payable automation platform designed to transform the way Canadian businesses manage supplier payments. By integrating seamlessly with your accounting software, RBC PayEdge automates the entire invoice-to-payment workflow, turning a manually intensive process into a fully digital, streamlined experience.

Whether you're running a small business juggling a few suppliers or managing a large enterprise with hundreds of vendors, RBC PayEdge consolidates all your payment operations into one powerful platform. Access funds from any Canadian bank account or credit card, pay multiple suppliers in various formats, and automatically reconcile everything back to your accounting system — all without needing to bank with RBC.

Key Advantage: RBC PayEdge is available to any Canadian business, regardless of where you bank. Combine funding sources from nearly any Canadian financial institution to create a centralized payment hub.

Official RBC PayEdge portal: https://www.rbcroyalbank.com/business/paying-and-receiving/payedge

Why Use RBC PayEdge?

⚙️ Complete Automation & Integration

RBC PayEdge seamlessly integrates with QuickBooks Online, Xero, and Sage Accounting through direct API connectivity. The platform automatically imports outstanding invoices, processes payments, and reconciles transactions back to your accounting software — eliminating hours of tedious manual data entry and document matching. Even if you don't use these accounting platforms, you can still leverage RBC PayEdge by uploading payment data via CSV templates.

💳 Ultimate Payment Flexibility

Fund your payments from any combination of Canadian bank accounts and credit cards — even from non-RBC institutions. RBC PayEdge uniquely allows you to pay suppliers via Mastercard or Visa credit card even when they don't accept cards, letting you maximize rewards, cashback, and credit card benefits. With a competitive 2.3% service fee on credit card payments (lower than most AP platforms), you can strategically manage cash flow while earning valuable rewards.

🌍 Global Payment Capabilities

Send payments to international vendors in over 30 countries and currencies without the hassle of manual currency conversion. RBC PayEdge displays transparent foreign exchange rates upfront, allows you to use domestic funding sources for international payments, and ensures all global transactions are digital, trackable, and secure. Know exactly what you'll pay with clear pricing based on your plan.

🎯 Multi-Format Payment Options

Pay suppliers however they prefer to receive payment: wire transfers, Interac e-Transfer for Business, Electronic Funds Transfer (EFT), USD cross-border ACH, EUR International Payments, bill payments, virtual credit card payments (for RBC Commercial cardholders), and even traditional cheques. Suppliers don't need to be RBC clients to receive payments, giving you maximum flexibility.

👥 Customizable User Management

Create multiple user profiles with four standard roles or build custom roles with specific permissions tailored to your business structure. Route invoices through complex approval workflows, assign different access levels for viewing versus executing transactions, and maintain proper segregation of duties — all while keeping everyone on the same digital platform for maximum transparency and accountability.

⏱️ Time & Cost Savings

Replace hours of manual paper filing, approval hand-offs, tedious payment reconciliation, and document matching with automated workflows. Your finance, accounting, bookkeeping, and AP teams gain valuable time to focus on higher-value strategic tasks. Reduce errors, avoid late payment fees, eliminate printing and mailing costs, and streamline audits with comprehensive digital records.

Official RBC PayEdge benefits: https://www.rbcroyalbank.com/business/paying-and-receiving/payedge/benefits

Setting Up RBC PayEdge

1. Create Your RBC PayEdge Account

Visit the RBC PayEdge website and complete the registration process. You'll need to provide contact and personal details for directors, officers, and owners, along with business identification (legal and trade name), structure, contact information, and physical address. Personal identification is confirmed via Canadian or US driver's license or passport. RBC clients can use their existing Online Banking credentials to expedite setup.

2. Set Up Your Funding Sources

Connect your funding accounts to RBC PayEdge. Add Canadian bank accounts from any financial institution, Visa and Mastercard credit cards from most Canadian issuers, and credit union accounts. Each RBC PayEdge profile automatically receives CAD and USD Virtual Wallet accounts that can be funded to make payments. Combine multiple funding sources to create your centralized payment hub.

3. Import or Create Supplier Profiles

If you use QuickBooks Online, Xero, or Sage Accounting, simply sync your accounting software and supplier details will be imported automatically into RBC PayEdge. Without integrated accounting software, you can upload supplier information via CSV file template or manually enter supplier details. For suppliers missing banking information, send secure email requests directly from the platform to gather payment details.

4. Integrate Your Accounting Software (Optional)

Connect RBC PayEdge to your QuickBooks Online, Xero, or Sage Accounting platform through seamless API integration. Outstanding invoices will automatically appear in RBC PayEdge under Payments > Outstanding Payables, and completed payments will automatically reconcile back to your accounting software as "Paid," eliminating manual reconciliation work.

5. Configure User Roles and Permissions

Add team members to the platform and assign appropriate user roles. Choose from four standard roles (Admin, Approver, Creator, Viewer) or create custom roles with specific permissions. Set up approval workflows, delegation rules, and access controls to match your existing business processes and maintain proper internal controls.

6. Create and Submit Payment Orders

Start processing payments! Pay multiple suppliers and invoices in a single payment order using any combination of your registered funding sources. Suppliers automatically receive detailed remittance information, and all payments reconcile back to your accounting platform. Monitor payment statuses, track approvals, and maintain complete visibility over your payables process.

Official RBC PayEdge setup guide: https://www.rbcroyalbank.com/business/paying-and-receiving/payedge

Pricing Plans

RBC PayEdge offers three flexible pricing plans designed to scale with your business growth. All plans are available to any Canadian business, even if you don't bank with RBC.

Pay As You Go

$0/month

Ideal for: Low payment volumes and businesses starting with AP automation

Includes: No monthly fee, pay only transaction fees per payment

Business Plan

Monthly Fee

Ideal for: Growing businesses with moderate payment volumes

Includes: Up to 200 payments per month included

Enterprise Plan

Monthly Fee

Ideal for: Large-scale businesses with high payment volumes

Includes: Up to 500 payments per month included

Custom Pricing Available: For companies handling larger payment volumes, RBC PayEdge offers customized pricing. Request a call to discuss your specific needs.

Credit Card Processing: RBC PayEdge offers a competitive 2.3% service fee on credit card payments — lower than most AP automation platforms and traditional card processing fees.

Official RBC PayEdge pricing: https://www.rbcroyalbank.com/business/paying-and-receiving/payedge/pricing

Key Features in RBC PayEdge

  • Accounting Software Integration: Seamless API connectivity with QuickBooks Online, Xero, and Sage Accounting for automatic invoice import and payment reconciliation.
  • Multi-Source Funding: Combine funds from any Canadian bank account, credit union, or Mastercard/Visa credit card — all from different financial institutions if needed.
  • Pay with Credit Cards: Fund supplier payments via credit card even when suppliers don't accept cards, maximizing rewards and cash flow management. Competitive 2.3% processing fee.
  • Multiple Payment Methods: Wire transfer, Interac e-Transfer for Business, EFT, USD ACH, EUR International Payment, bill payment, virtual credit card payment, and cheques.
  • International Payments: Send payments to over 30 countries in multiple currencies with transparent FX rates displayed upfront.
  • Virtual Wallets: Automatic CAD and USD Virtual Wallet accounts included with each profile for simplified payment funding.
  • Batch Payments: Pay multiple suppliers and invoices in a single payment order, streamlining bulk payment processing.
  • Automated Remittance: Suppliers automatically receive detailed remittance information with each payment, reducing follow-up inquiries.
  • Custom User Roles: Four standard roles (Admin, Approver, Creator, Viewer) plus the ability to create custom roles with specific permissions.
  • Approval Workflows: Digitally route invoice approvals through complex multi-level approval processes with full audit trails.
  • Automatic Reconciliation: Payments automatically update in your connected accounting software, eliminating manual reconciliation work.
  • CSV Import/Export: Upload payment data via CSV templates or export transaction records for external analysis.
  • Supplier Self-Service: Request banking details and payment preferences directly from suppliers via secure platform-generated emails.
  • Payment Status Tracking: Real-time visibility into payment statuses, approvals, and transaction histories for complete transparency.
  • Secure Data Exchange: Only payables-related information is transmitted — no personal information is shared between systems.

Official RBC PayEdge features: https://www.rbcroyalbank.com/business/paying-and-receiving/payedge

Security & Compliance

RBC PayEdge prioritizes the security of your business financial data with enterprise-grade protection standards:

  • Direct Payment Transfers: All payments are made directly from your funding source to supplier bank accounts without third-party intermediaries.
  • Banking Infrastructure Security: Connected to existing banking infrastructure and held to the highest financial security standards.
  • PCI Compliance: Exceeds all Payment Card Industry (PCI) standards with annual compliance audits.
  • Enhanced Encryption: Utilizes advanced encryption beyond industry-standard procedures to eliminate exposure of sensitive data.
  • 256-bit EV TLS Encryption: Extended Validation Transport Layer Security encryption protects all data transmitted across the network.
  • Zero Third-Party Access: Encryption ensures no third party can access information as it enters or travels through the platform.
  • Minimal Data Sharing: Only information necessary to process accounts payable is transmitted — no personal information is shared with third parties.

Official RBC PayEdge security information: https://www.rbcroyalbank.com/business/paying-and-receiving/payedge/faqs

Frequently Asked Questions

  • Do I need to bank with RBC to use RBC PayEdge? No! RBC PayEdge is available to any Canadian business regardless of where you bank. You can fund payments from accounts at any Canadian financial institution.
  • What accounting software integrates with RBC PayEdge? RBC PayEdge currently supports direct API integration with QuickBooks Online, Xero, and Sage Accounting. If you don't use these platforms, you can still use RBC PayEdge by uploading data via CSV templates or manual entry.
  • Can I use my credit card to fund payments? Yes! You can use Mastercard or Visa credit cards from most Canadian issuers to fund supplier payments — even for suppliers who don't accept credit cards. RBC PayEdge charges a competitive 2.3% service fee on credit card payments.
  • What payment methods are supported? RBC PayEdge supports wire transfers, Interac e-Transfer for Business, Electronic Funds Transfer (EFT), USD cross-border ACH, EUR International Payments, bill payments, virtual credit card payments (RBC Commercial cards only), and traditional cheques.
  • Can I pay international suppliers? Yes! RBC PayEdge supports payments to over 30 countries in multiple currencies with transparent foreign exchange rates displayed upfront.
  • How are supplier details added to the platform? Supplier information can be imported directly from your connected accounting software (QuickBooks Online, Xero, Sage), uploaded via CSV file template, or manually entered. You can also request banking details from suppliers via secure platform-generated emails.
  • What user roles are available? RBC PayEdge offers four standard user roles: Admin, Approver, Creator, and Viewer. You can also create custom roles with specific permissions tailored to your business needs. Permissions can be modified at any time.
  • Is my business eligible for RBC PayEdge? RBC PayEdge can be used by any Canadian business of any size. However, there are a few categories of businesses prohibited from using the service (contact RBC PayEdge for specific eligibility details).
  • How does payment reconciliation work? When integrated with your accounting software, paid bills from RBC PayEdge are automatically transmitted back to your accounting platform and marked as "Paid," eliminating manual reconciliation work.
  • Can I switch between pricing plans? Yes! As your payment volume grows, you can easily switch to a monthly subscription plan to take advantage of included payments and potentially lower per-transaction costs.

Official RBC PayEdge FAQ: https://www.rbcroyalbank.com/business/paying-and-receiving/payedge/faqs

Conclusion

RBC PayEdge represents a revolutionary approach to accounts payable automation for Canadian businesses. By combining seamless accounting software integration, unparalleled funding flexibility, and comprehensive payment options in one centralized platform, RBC PayEdge transforms the traditional manual AP process into a streamlined digital workflow.

What sets RBC PayEdge apart is its universal accessibility — you don't need to bank with RBC to leverage this powerful platform. Combine funding sources from any Canadian bank account, credit union, or credit card to create your ideal payment hub. The ability to pay suppliers via credit card even when they don't accept cards, coupled with the competitive 2.3% processing fee, delivers unique strategic advantages for cash flow management and rewards optimization.

Whether you're a small business looking to eliminate manual invoice processing or a large enterprise managing hundreds of international suppliers across multiple currencies, RBC PayEdge scales to meet your needs. With flexible pricing starting at pay-as-you-go with no monthly fees, businesses of any size can access enterprise-grade AP automation without significant upfront investment.

The platform's seamless integration with QuickBooks Online, Xero, and Sage Accounting, combined with automatic payment reconciliation, customizable approval workflows, and robust security standards, ensures that RBC PayEdge doesn't just automate payments — it transforms your entire accounts payable process. From invoice import to payment execution to reconciliation, every step happens automatically, giving your team valuable time to focus on strategic growth initiatives.

Visit the official RBC PayEdge portal (https://www.rbcroyalbank.com/business/paying-and-receiving/payedge) to create your account today, or request a demo to see how RBC PayEdge can streamline your unique accounts payable process. Transform your AP workflow, save time and money, and gain complete visibility over your payables — all from one powerful platform.

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