Interac Flash is a contactless enhancement of Interac Debit. Now you can simply pay in a flashTM by holding your card up to a reader that supports Interac Flash to make a payment instantly from your savings or chequing account. No need to insert your card or enter your PIN. No more searching for bills or waiting for change. With Interac Flash instead of cash, it's like you're ready with the exact change every time.
Interac Flash debit cards are enhanced with dual-interface functionality, meaning they can now be used in two ways instead of one: traditionally, like the Interac Debit purchases you’ve always known, and now for contactless transactions, meaning the cards do not always have to be inserted into a terminal and accompanied with the entry of a PIN.
How it works:
Interac chip debit cards that are enabled with Interac Flash will have this symbol on each card. Look for the Interac Flash logo on point-of-sale terminals and readers.
It’s that simple. Your purchase is then automatically debited from your bank account - typically the account you normally use for Interac Debit transactions. This means that you can use your regular financial records to track all of your Interac Flash purchases.
It’s that simple.
Your purchase is then automatically debited from your bank account - typically the account you normally use for Interac Debit transactions. This means that you can use your regular financial records to track all of your Interac Flash purchases.
Interac Flash transaction limits are set by your financial institution based on the type of purchase. For example, that may be $50 for smaller purchases, while gas and groceries might have a limit of $100. If your purchase is above this limit, you will be prompted to insert your card and PIN.
Interac Flash is rolling out and now available at select merchant locations across Canada. Find an Interac Flash Merchant.
Scotiabank, RBC Royal Bank, and TD Canada Trust are the first financial institutions to offer the enhancement, and other Canadian issuers are also working to provide their customers with Interac Flash soon.
Several safeguards provide you with personal protection when using Interac Flash:
- Interac Flash uses chip technology.
- Exclusive functionality and security unique to Interac Flash protect every transaction.
- The Interac Zero Liability Policy protects you from unauthorized transactions*.
- Spending limits provide an added layer of protection by occasionally prompting you to enter your PIN when your limit is reached. This will validate that you as the legitimate cardholder
Interac Flash uses secure chip processing which means a number of layered cryptographic techniques protect you against skimming, counterfeiting, transaction replay types of fraud, and tactics such as electronic pick-pocketing.
On March 27th, 2013, we carried out Canada’s first in-market mobile debit transaction from a mobile phone at McDonald’s, with the assistance of RBC Royal Bank, Moneris and BlackBerry . Read more about this milestone here.
Evolving into the mobile payments space is a natural extension for Interac products. Look at some of the numbers. At point -of-sale, Canadians reach for Interac Debit more than any other electronic payment.
When Canadians reach for the payment cards in their wallets at the point-of-sale, 55% of the time they choose to pay with Interac Debit. Last year, that resulted in over 4 billion transactions passing through our network. Now, we are in the midst of a successful roll out of Interac Flash, the contactless enhancement of Interac Debit. Extending it to the mobile form factor is a natural next step.
Leveraging the technology of Interac Flash payments, mobile Interac Flash and will allow you to make contactless debit transactions using your NFC-equipped mobile phone. That means instant and secure purchases are made directly from your bank account, simply by holding your mobile phone, equipped with the Interac Flash application, in front of an Interac Flash-enabled terminal.
With our financial institution partners, we hope to make mobile Interac Flash available to Canadians in late 2013.
The transactions we have carried out are among the first NFC mobile debit payment transactions globally and showcase our leadership role in the debit payments space.
- We hope to see this new offering in the hands of Canadian consumers later this year.
- Consumers are embracing mobile devices for commerce and we are well positioned to help Canadian financial institutions bring this offering to their customers.
- We are working with financial institutions to extend this new offering, mobile Interac Flash to their clients once it is made available.
* Protection applies to losses resulting from circumstances beyond the cardholder's control. Some conditions apply. Click here to read more about the Interac Zero Liability Policy.
The Contactless Indicator is a trade-mark of EMV Co. LLC. Used under license.
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