Interac is Canada's local debit network. It offers customers a secure way to pay for goods and services in-store and online. It is the leading POS payment method in Canada and for some verticals, like everyday purchase categories, can represent 40-60% of transactions. Interac supports EMV, contactless (Flash) and mobile wallet payments.
For eCommerce transactions, Interac provides two payment options: in-app or mobile web payment flows where an Interac card is used with Apple Pay, Google Pay, and Samsung Pay, and "Interac Online" which is an online banking payment method that can only be used for single-branded Interac cards. We see strong growth of the Apple Pay and Google Pay payment option, driven by the fact that most banks have chosen Interac for their debit cards in those wallets
How it works
- Shopper reviews the order and selects Apple Pay as payment method
- Shopper reviews the payment information and confirms the payment
- Payment complete
- Shopper is able to see the successful transaction from the digital wallet
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