The way people pay for things in Canada has undergone a huge shift recently as Canada fast moves toward becoming a cashless society. These days, more and more merchants are allowing customers to pay digitally, while customers appreciate the speed and ease of use. All this has led to a boom in the number of digital payment methods, but not all of them are safe or accepted in many places. The perfect digital way to pay not only has to be extremely secure, due to the increased risk when paying online, but also must be widely accepted and easy to use. For that reason, Interac became a rising star during the recent boom in online shopping and shows no sign of slowing down. Find out why so many Canadians choose Interac as their trusted way to pay for everything online, from shopping to gaming.
What is Interac?
Interac was developed in 1984 by several of the largest banks in Canada in order to facilitate Canada’s debit card system. Today, it’s the largest payment system in Canada, running over 59,000 ATMs across Canada and is affiliated with over 80 financial institutions. As such, Interac’s system has always needed to be at the forefront of technology and security and have developed the methods to instantly transfer money bank accounts to recipients. Furthermore, they provide Canadians with so many ways to pay, from Interac Flash for contactless RFID payment to Interac Online, for the safest online payments.
What makes Interac popular with Canadians?
Now that the current circumstances have made so many Canadians depend on online shopping, as well as online entertainment, having a secure and easy to use payment method on hand is now necessity. Deposits and withdrawals happen much faster since Interac works directly with over 80 financial institutions (including all major Canadian banks) and people can easily withdraw and deposit money directly from the bank account.
Thanks to its ease of use, Interac e-transfer has also become popular way to pay someone in lieu cash in the safest way possible.
To keep details safe during transfer, Interac uses third-party payment specialist Gigadat Inc. Their enhanced, state-of-the-art security methods keep sensitive data such as banking details, personal information, and passwords, safe at all times.
Where can you use Interac?
Interac is the most popular way to pay online in Canada and is accepted by over 450,000 vendors in Canada.
Because of its advanced security features, Interac has also become the method of choice among gamers and online casino players. That’s because with other payment methods, online gamers often find themselves stuck since not all methods allow payment to online gaming.
Some payment methods are accepted at many online casinos but don’t have the best safety features; yet others take ages to process payments, which can be a huge setback in the fast-paced world of online casinos where time is of the essence in order to win big.
Interac, on the other hand, is widely available at the majority of online casinos for Canadians who generally offer the options Interac Online and e transfer supported by Gigadat for casino deposits and withdrawals. They also process payments instantly, and, most importantly, is considered safe to use when paying online. For this reason, Canadian gamers who want to enjoy their games and their winnings as soon as possible depend on Interac.
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