More payment methods

Interac

Canada's Trusted Electronic Payment Solution

Established in 1984, Interac is one of Canada’s leading electronic payment services. It allows Canadians to make secure online purchases directly from their bank accounts without the need for credit cards. With its seamless integration into most of Canada’s major banks, it’s a preferred choice for many Canadians when transacting online.

Documentation
% of coverage
  • Country

    Canada

  • Population

    Approximately 37.6 million (as of 2021)

  • Number of Internet users

    > 34 million

  • Popular payment methods in Canada

    Credit/Debit Cards, Interac Online, E-Transfers, E-Wallets.

% of coverage
  • Interac Online

    25%

  • Credit/Debit Cards

    55%

  • E-Wallets

    15%

  • Bank Transfers

    3%

  • Other

    2%

Payment Method Overview
  • Type:Online Bank Payment
  • Currency:Canadian Dollar (CAD)
  • % of coverage:Approx. 90% of the Canadian banking population (2022)
  • Transactions to date: > 4 billion CAD (estimated)
  • Total merchants using Interac Online:> 450,000 (estimated)
  • Refunds:Yes
  • Chargebacks:Limited, depends on the nature of the transaction

About payment system

Interac has become synonymous with secure and instantaneous online payments in Canada. Given its integration with virtually all major Canadian banks, it offers a level of trust and familiarity that few other payment methods can match in the region.

For consumers, the process is straightforward: select Interac Online at checkout, choose their bank, and authenticate the transaction via their online banking portal. Since no financial details are shared with the merchant, the risks associated with data breaches or unauthorized transactions are minimized.

Merchants appreciate Interac Online for its fast settlement times and relatively low transaction fees, especially when compared to traditional credit card processing rates. The widespread adoption and trust in the Interac brand also mean potentially higher conversion rates for businesses that cater to Canadian consumers.

Furthermore, Interac Online’s security features, such as transaction encryption and authentication processes, make it a reliable choice for those prioritizing online safety. Its continued evolution, with features like Interac e-Transfer, highlights the organization’s commitment to meeting the changing needs of Canadians in the digital age.

Read all
Payment flow

The customer selects Visa as their payment option and enters their credit card details to complete the payment.

Payment methods that also might be interesting

pix brazil

PIX

Online banking

PIX is a revolutionary instant payment method developed and supported by Brazil's Central Bank.

Interac

Interac

Online banking

Interac Online is one of Canada's leading electronic payment services.

Logo (5)

Bizum

Bizum: Discover payment solutions in Spain

Bizum is a mobile payment system created by a consortium of Spanish banks in 2016, offering instant transfers by linking users' bank accounts to their mobile numbers.

Quick Transfer Asia

Quick Transfer

Online banking

Quick Transfer is a providing a convenient way to move money quickly.

Zamtel

Zamtel

Mobile money

Zamtel Kwacha is a revolutionary mobile money platform.

EcoCash

EcoCash

Mobile money

EcoCash is a transformative mobile money platform.

Logo (1)

Vipps

Vipps: Discover payment solutions in Norway

Vipps is Norway's leading mobile payment app, originally launched in 2015 by DNB. It allows users to make secure peer-to-peer transfers, pay for goods and services online, and settle group expenses with ease.

Logo (3)

Klarna

Klarna: Discover payment solutions

Klarna is one of the leading Buy Now Pay Later (BNPL) services globally, operating in over 17 countries and serving over 450,000 merchants.

ZaloPay

ZaloPay

Online banking

ZaloPay is a comprehensive mobile payment in Vietnam.

Thai QR

Thai QR

Online banking

Thai QR Code Payments is an innovative digital payment method.

Show all payment methods
Pricing

Pricing request

Our fare pricing is designed to bring satisfaction to both sides of our partnership. The pricing structure is tailored to your specific business type and monthly turnover. Kindly send us a request, including details about your business, and our dedicated success manager will promptly get back to you with our best offer.