In time for the April 30th personal income tax filing deadline, Payment Source announced today that they have teamed up with PayPal Canada to enable Canadians to use their PayPal account to pay federal taxes on the Canada Revenue Agency (CRA) website.
More than two-thirds of Canadians already file their returns electronically, according to the CRA. As tax filing and payment options evolve, many taxpayers want fast and secure ways to pay tax bills digitally. More than 6.5 million active customer account holders of PayPal in Canada can now use their bank account, credit card, Visa debit card or the balance in their account to pay their federal taxes. PayPal never shares its customers' financial information with merchants or the CRA thereby protecting the payment information of their users.
This announcement also benefits more than 250,000 Canadian small businesses that use PayPal; they can pay their corporate federal taxes directly with the balance, bank account or credit card in their PayPal account.
“Tax season is a stressful time. We wanted to ease the pain and make it convenient for our customers to use their PayPal account to pay their federal taxes this year,” said Paul Parisi, President, PayPal Canada.
As per the CRA, Canadian Citizens. living abroad are required to file tax forms annually and pay Canadian taxes on their worldwide income. Canadian expatriates can now use PayPal to pay their federal tax more conveniently.
"We are pleased to work with PayPal to make tax paying simple," shared Robert Hyde, VP Payment Services for Payment Source. "A digital payment solution like PayPal is ideal for Canadians who want to pay their taxes without revealing their bank account or credit card details to third parties."
About Payment Source
Payment Source is the premier alternative payments provider in Canada. Offering white label payment solutions and customized card services to enterprises, digital businesses, and government organizations, Payment Source has an unmatched retail distribution network across Canada. Whether it’s in-person payments, mobile wallets, general purpose reloadable cards, travel prepaid cards, mobile top-ups, or gift cards, Payment Source creates the ideal customized alternative payment program for organizations of all sizes by enabling its partners to reach and service new customers and markets. Learn more about Payment Source at www.paymentsource.ca.
About PayPal
Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal Holdings, Inc. (NASDAQ: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal's 227 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies. For more information about PayPal, visit PayPal.ca
Media Contacts
Allison Cutler
Director, Marketing & Communications
Payment Source
416-255-8897
Malini Mitra
PayPal Canada
416.408.5793