Press Releases

Interac Direct Payment tops 31 million transactions during the year's busiest shopping days

Toronto, Ontario; December 26, 2006 – Interac Direct Payment - Canada's national debit service and favourite way to pay - set a new record with 31.2 million transactions processed on the two busiest shopping days of the year, December 22 and December 23, 2006. This marks the largest two-day total in Interac Association's history, eclipsing last year's record total by one million transactions.

"The holiday season is when we typically see our largest transaction volumes, but this year was unique with the busiest day of the year coming two days before Christmas, on Friday December 22. Traditionally the last full shopping day before Christmas has yielded the greatest number of transactions," said Tina Romano, Interac Association. "The busiest date may have changed, but the favourite way to pay hasn't. Canadians love using their debit cards."

Reliable, safe and convenient, Interac Direct Payment (IDP) is the favourite way to pay for one out of two Canadians. There are more than 35 million debit cards in circulation in Canada, accounting for more than three billion IDP transactions in 2005.

About Interac Association

Formed in 1984, Interac Association is a not-for-profit organization composed of members representing banks, trust companies, credit unions, caisses populaires, technology and payment related companies. Interac Association is responsible for the development of the national network for two shared electronic financial services: Interac Direct Payment, Canada's national debit card service and Interac Shared Cash Dispensing service for cash withdrawals at Automated Banking Machines.