Interac
Interac is Canada's local debit network. It offers customers a secure way to pay for goods and services in person and online. It's the leading in-person 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.
Cost efficient as network and interchange fees are lower than other cards
The only way to accept most debit cards in Canada at POS and through Apple Pay and Google Pay
Low risk of chargebacks
Minimal effort to implement, especially for merchants already offering Apple Pay and Google Pay via Adyen
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
Shopper accesses the merchant website and selects item
Shopper selects Interac from the payment methods available
Shopper is required to enter email address
Shopper is directed to the Interac Online Gateway page to select Financial Institution to pay with
Shopper is directed to selected Financial Institution’s online banking page to sign in using their existing online banking credentials
Shopper selects account to pay with and confirms payment
Features
| Payment type | Online banking | |
|---|---|---|
| Mobile | ||
| Cards | ||
| Channel | Online | |
| In person | ||
| Available in | North America | Canada |
| Currencies | Settlement currency | CAD |
| Processing currency | CAD | |
| Other | Refunds | For Point of Sale the customer must be physically present to process a refund |
| Partial refunds | Only for Ecommerce | |
| Multiple partial refunds | Only for Ecommerce | |
| Multiple partial captures | ||
| 3D Secure | ||
| Chargebacks | In case of technical errors and goods not received | |
| Local entity required | ||
| Sales day payout | ||
| Settlement delay | 3 days | |
| Recurring |
How to integrate payment methods
Already a customer
If you are an Adyen customer, you can simply request a new payment method in the Customer Area.
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