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Interac

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or point-of-sale terminal will record the account information contained in the magnetic strip of the card, allowing for duplicate cards to be created at a later time. The owner of the card is then secretly video taped or observed entering their PIN, allowing a criminal to use duplicate cards to make
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By February 2009, Interac Online was supported by roughly 300 merchants including two large universities (for tuition payments), two major wireless carriers, provincial lottery corporations, and a wide variety of retailers. It was later adopted by Paymentwall (for payments to third-party merchants)
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Interac Direct Payment is a PIN-based system where the information entered on the PIN pad is encrypted and verified at a central server, rather than being stored on the card itself. Because of this, it is significantly more secure than traditional signature or card-based transactions. Despite these
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The Interac Online service allows customers to pay for goods and services over the Internet using funds directly from their bank accounts. Because no financial information is shared with the online merchant, the Interac Online service is more secure than online credit card payments. This service,
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The Interac e-Transfer service is offered by CertaPay. It allows online banking customers to send money to anyone with an e-mail address or a cellphone number and a bank account in Canada. Prior to February 2018, this was an Interac-branded service operated by
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has dropped all support for Interac Online, effective 6 January 2023. According to their site, "Interac Online is being phased out by major financial institutions and will no longer be supported as a payment option for deposits."
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network outage resulting in millions of dollars in lost transactions for businesses. On July 11, 2022, Interac stated they were adding another provider in addition to Rogers to strengthen their network redundancy.
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In 2021, Interac Corporation acquired the exclusive rights to the digital ID services for Canada from the digital ID and authentication provider SecureKey Technologies Inc.
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technology. The main benefit to this technology over the existing magnetic stripes is that the chips are almost impossible to copy due to high levels of encryption.
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operated by Acxsys Corporation from 2005-2018 and by Interac Corporation since then, was available to customers of four of the five largest Canadian banks:
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service for purchasing of goods and services. In 1990 Interac launched a new pilot called Interac Direct Payments. Customers enter their
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that can be accessed through the Interac network in Canada, and over 450,000 merchant locations accepting Interac debit payments.
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Interac is the organization responsible for the development of a national network of two shared electronic financial services:
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not belonging to a cardholder's financial institution. This Canada-specific service is similar to international systems like
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or by some of the co-owners between 2008 and 2013, Interac and Acxsys were combined into a single for-profit organization,
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that links financial institutions and other enterprises for the purpose of exchanging electronic
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during the checkout process. The list of credit unions on that page is badly outdated, and
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https://web.archive.org/web/20060717152738/http://www.interac.ca/en_n2_11_howitworks.html
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https://web.archive.org/web/20060721144717/http://www.interac.ca/en_n2_12_benefits.html
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security features, there are ongoing fraud concerns, particularly when debit cards are
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https://web.archive.org/web/20060718165146/http://www.interac.ca/en_n2_13_fees.html
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On July 8, 2022, all Interac services were disrupted in Canada due to a nationwide
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Interac Association (2006). At the Merchant 2006. Retrieved 19 June 2006, from
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Interac Association (2006). At the Merchant 2006. Retrieved 19 June 2006, from
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Interac Association (2006). At the Merchant 2006. Retrieved 19 June 2006, from
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As of 2023, the service has been dropped by all major Canadian banks except
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https://www.interac.ca/en/consumers/products/interac-debit/e-commerce/
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In 2019, Interac Corporation acquired 2Keys Corporation, Ottawa-based
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Not encyclopedic at the moment. Needs more work in tone and style.
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systems in use in the United Kingdom, Australia and New Zealand.
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for governments, financial institutions and commercial clients
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A prompt to select from a list of institutions appears at
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system and the predominant funds transfer network via its
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and the Canada Revenue Agency (for income tax payments).
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https://gateway.interaconline.com/merchant_processor.do
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IDP is similar in nature to the 398:Learn how and when to remove this message 77:Learn how and when to remove this message 886:"What is Chip Technology | Interac" 857: 756: 698: 670: 782: 644:The Canadian Press (12 February 2010). 2564:Financial services companies of Canada 2541: 562:Ontario Lottery and Gaming Corporation 1782: 1082: 454: 275:, a cooperative venture between five 380:adding citations to reliable sources 351: 27: 1027:"Shop Securely with Interac Online" 858:Buchholz, Garth A. (22 July 2005). 699:Bradshaw, James (5 November 2019). 671:Bradshaw, James (5 February 2018). 13: 1256:European Payments Initiative (EPI) 14: 2605: 1246:Electronic Payment Services (EPS) 1062: 512: 192:. Interac serves as the Canadian 2522: 2521: 996:"Interac Online Removal Details" 912:"Interac Association Chip Guide" 757:Streeter, Joe (1 October 2021). 356: 32: 1037: 1019: 1002: 988: 966: 944: 930: 904: 878: 851: 367:needs additional citations for 200:service. There are over 59,000 2584:Debit card issuer associations 2559:1984 establishments in Ontario 2311:Armed Forces Financial Network 1737:Personal identification number 837: 807: 776: 750: 732: 718: 692: 637: 474:Shared Cash Dispensing (SCD): 424:personal identification number 19:For the Japanese company, see 1: 630: 2271:European Payments Initiative 1574:Card not present transaction 1458:Credit card balance transfer 574:First Nations Bank of Canada 470:Shared Cash Dispensing (SCD) 414:Interac Direct Payment (IDP) 7: 2152:Allied Irish Banks Banklink 613: 347: 133:; 40 years ago 52:. The specific problem is: 10: 2610: 497: 494:Interac e-Transfer Service 207: 18: 16:Canadian interbank network 2554:Banks established in 1984 2516: 2469: 2453: 2293: 2276:Single Euro Payments Area 2144: 1871: 1848: 1817: 1755: 1689: 1658: 1597: 1584:Controlled payment number 1566: 1538: 1510: 1440: 1339: 1179: 1124: 248: 227: 217: 202:automated teller machines 167: 159: 127: 119: 111: 103: 94: 2306:Alberta Regional Network 2246:(Bosnia and Herzegovina) 1717:Hardware security module 1697:Automated teller machine 1483:Current/checking account 783:@INTERAC (8 July 2022). 545:service very similar to 543:Online Banking ePayments 448:automated teller machine 155:(as Interac Corporation) 142:(as Interac Association) 1994:Dutch Bangla Bank Nexus 976:. Secure Vault Payments 914:. EPOSS. Archived from 2030:Saudi Payments Network 1742:Secure cryptoprocessor 1074:Interac Online website 557:in the United States. 541:Interac Online was an 451:fraudulent purchases. 446: — a compromised 277:financial institutions 190:financial transactions 2036:Shetab Banking System 1707:Credit card imprinter 1681:Credit card hijacking 555:Secure Vault Payments 478:withdrawals from any 341:Rogers Communications 254:; 6 years ago 252:February 1, 2018 146:; 6 years ago 144:February 1, 2018 2372:Accel / The Exchange 2182:Bankcard-Servicenetz 1727:Magnetic stripe card 974:"Fast. Easy. Secure" 608:Royal Bank of Canada 549:in the Netherlands, 376:improve this article 59:improve this article 48:to meet Knowledge's 2042:The Benefit Company 1702:Contactless payment 1448:Payment card number 866:. Pearson Education 309:Interac Corporation 273:Interac Association 236:Interac Association 214: 213:Interac Corporation 163:Interac Corporation 91: 2569:Interbank networks 2244:BH Mreža bankomata 1810:Interbank networks 1666:Card security code 1624:Interbank networks 1261:Forbrugsforeningen 998:. 5 December 2022. 823:The Canadian Press 728:. 5 November 2019. 705:The Globe And Mail 678:The Globe and Mail 507:Acxsys Corporation 500:Interac e-Transfer 455:Interac chip cards 305:Competition Bureau 239:Acxsys Corporation 222:Financial services 212: 89: 2589:Banking in Canada 2536: 2535: 2289: 2288: 2266:Euronet Worldwide 1776: 1775: 1722:Interbank network 1676:Credit card fraud 1654: 1653: 1558:Universal default 1553:Introductory rate 1473:Revolving account 918:on 7 January 2016 606:According to the 408: 407: 400: 266: 265: 186:interbank network 179: 178: 87: 86: 79: 50:quality standards 41:This article may 2601: 2525: 2524: 2331:Discover Network 2251: 2250: 2223:(United Kingdom) 2099: 2087: 2075: 2062: 1803: 1796: 1789: 1780: 1779: 1732:Payment terminal 1671:Chargeback fraud 1621: 1620: 1468:Installment loan 1453:Card association 1402:Rail Travel Card 1132:American Express 1103: 1096: 1089: 1080: 1079: 1031: 1030: 1023: 1017: 1006: 1000: 999: 992: 986: 985: 983: 981: 970: 964: 963: 961: 959: 948: 942: 941: 934: 928: 927: 925: 923: 908: 902: 901: 899: 897: 892:on 5 August 2012 882: 876: 875: 873: 871: 855: 849: 848: 841: 835: 834: 832: 830: 811: 805: 804: 798: 796: 780: 774: 773: 771: 769: 754: 748: 747: 736: 730: 729: 722: 716: 715: 713: 711: 696: 690: 689: 687: 685: 668: 662: 661: 659: 657: 641: 625:White-label ABMs 585:British Columbia 553:in Germany, and 403: 396: 392: 389: 383: 360: 352: 324:digital identity 313:Royal Bank Plaza 262: 260: 255: 215: 211: 175: 154: 152: 147: 141: 139: 134: 99: 92: 88: 82: 75: 71: 68: 62: 36: 35: 28: 2609: 2608: 2604: 2603: 2602: 2600: 2599: 2598: 2574:Payment systems 2539: 2538: 2537: 2532: 2512: 2465: 2449: 2326:Co-op Solutions 2285: 2249: 2140: 2093: 2081: 2069: 2056: 1867: 1844: 1813: 1807: 1777: 1772: 1751: 1685: 1650: 1619: 1593: 1562: 1534: 1506: 1488:Savings account 1478:Deposit account 1436: 1407:Revolution Card 1335: 1182:specialty cards 1181: 1175: 1120: 1107: 1069:Interac website 1065: 1040: 1035: 1034: 1025: 1024: 1020: 1007: 1003: 994: 993: 989: 979: 977: 972: 971: 967: 957: 955: 952:"Home: giropay" 950: 949: 945: 936: 935: 931: 921: 919: 910: 909: 905: 895: 893: 884: 883: 879: 869: 867: 856: 852: 843: 842: 838: 828: 826: 813: 812: 808: 794: 792: 781: 777: 767: 765: 755: 751: 746:. October 2021. 738: 737: 733: 724: 723: 719: 709: 707: 697: 693: 683: 681: 669: 665: 655: 653: 642: 638: 633: 616: 570:TD Canada Trust 532:TD Canada Trust 515: 502: 496: 472: 457: 416: 404: 393: 387: 384: 373: 361: 350: 258: 256: 253: 244: 210: 171: 150: 148: 145: 143: 137: 135: 132: 83: 72: 66: 63: 56: 37: 33: 24: 21:Interac (Japan) 17: 12: 11: 5: 2607: 2597: 2596: 2591: 2586: 2581: 2576: 2571: 2566: 2561: 2556: 2551: 2534: 2533: 2531: 2530: 2517: 2514: 2513: 2511: 2510: 2504: 2498: 2492: 2486: 2480: 2473: 2471: 2467: 2466: 2464: 2463: 2457: 2455: 2451: 2450: 2448: 2447: 2442: 2437: 2432: 2431: 2430: 2422: 2421: 2420: 2419: 2418: 2403: 2398: 2397: 2396: 2395: 2394: 2389: 2379: 2374: 2364: 2363: 2362: 2357: 2347: 2346: 2345: 2344: 2343: 2328: 2323: 2318: 2313: 2308: 2303: 2297: 2295: 2291: 2290: 2287: 2286: 2284: 2283: 2278: 2273: 2268: 2263: 2257: 2255: 2248: 2247: 2241: 2235: 2229: 2224: 2218: 2213: 2208: 2202: 2196: 2195: 2194: 2189: 2184: 2173: 2167: 2161: 2155: 2148: 2146: 2142: 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Index

Interac (Japan)
cleanup
quality standards
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interac.ca
interbank network
financial transactions
debit card
e-Transfer
automated teller machines
Financial services
nonprofit
financial institutions
RBC
CIBC
Scotiabank
TD
Desjardins
e-transfers
Competition Bureau
Royal Bank Plaza
Toronto
digital identity
cyber security
Rogers Communications

verification
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