Interac is a Canadian company, founded in 1984 and a leader in the market, which generates payments through debit cards. The company is responsible for the development and operations of the Interac network, a national payments network that allows Canadians to access their money at ATMs through the Interac Cash service and at point-of-sale terminals across Canada through the Interac Debit service. Interac Debit also includes Interac Flash, a secure contactless payment method that allows Canadians to pay for items instantly by exposing their cards in front of Interac Flash readers at multiple points of sale in the country.
Interac integrates with Cyberbank to provide electronic payment services. Interac e-transfer has the following capabilities:
Auto-deposit transfers: through homebanking, customers can register in the Interact e-transfer system and attach their emails to a bank account, allowing customers to send and receive money only using emails, saving time and energy in a practical and safe way.
International money transfer: Interac works with Mastercard and Western Union, allowing customers to send money to any corner of the world.
Life is simpler: with Interac, each customer can easily manage the sending and receiving of money by simply using the email or phone number of the third party to whom they wish to send.