Scarborough-based Municipay, a spinoff of Nationwide Payments, partnered with MTI to help develop their second generation electronic payment processing solution designed specifically for the government, education, and utilities industries. Processing over $60 million of electronic payments per year serving over 500 municipalities across the country, the company recognized the need to add new features while offering the latest technology along with the highest level of security, stability and reliability. In lieu of pursuing traditional equity funding, the company leveraged a Development Loan to launch Municipay 2.0. The completion of this product has allowed the company to expand its services including broader markets such as Educational facilities, utilities and larger towns and cities.