Interac

Interac Corp. is a Canadian company that operates a robust interbank network, connecting financial institutions and businesses to facilitate electronic financial transactions across Canada. Originally established in 1984 as a nonprofit cooperative among major banks, it transitioned to a for-profit corporation in 2018. Headquartered in Toronto, Interac is essential to Canada’s debit card system and offers a range of services, including the widely used Interac e-Transfer.

The Interac Debit Network allows Canadians to make debit card payments at over 450,000 merchant locations and access more than 59,000 ATMs nationwide. Interac e-Transfer enables real-time electronic money transfers, widely adopted for personal and business transactions. The company also supports mobile payments through NFC technology and provides secure digital identity verification solutions under the Verified.Me brand. Additionally, Interac is developing Canada’s new real-time payments infrastructure, enhancing the payment ecosystem. With a network connecting nearly 300 financial institutions and serving millions of Canadians daily, Interac is committed to innovation, security, and reliability in digital transactions.