The service leverages customers’ online banking credentials to provide merchants with direct approvals, which allows their customers to input online/mobile banking credentials to send payment instantly to a merchant from their chequing or savings accounts.

The service uses a secure page to collect the data and the interface is intuitive and easy to understand. Interac handles the fraud monitoring and authentication internally, so all parties are well protected.

There are also no chargebacks, which we see all too often with credit card transactions. Interac is a trusted brand in Canada, seen on virtually every POS terminal, gas station pump and ATM; and emblazoned on the front door of almost every business in the country.