There are two types of network participants with Interac Corp.
Direct Connectors: participants who connect directly to the Inter-Member Network (IMN) to provide Interac Cash and Interac Debit services. Each Direct Connector maintains a physical network connection to the IMN, which allows them to connect to each other through a private TCP/IP telecommunications network.
Indirect Connectors: participants who connect through a Direct Connector to the IMN.
Participants of Interac Corp. may act as:
Issuers: these participants are financial institutions who maintain demand accounts and issue debit cards to their clients to access Interac services. At present, financial institutions, money market mutual funds and Insurance companies are eligible to become issuers.
Acquirers: these participants operate card-accepting devices, such as ABMs or Interac Debit (contact or contactless) terminals at the Point-of-Sale, which capture and transmit to the Issuer relevant data, needed to undertake a transaction. See our current Acquirer list.
Connection service providers (CSPs): these participants are Direct Connectors who provide access for Indirect Connectors to the Inter-Member Network.
Settlement agents: These participants settle the financial obligations of other members through the Canadian Payments Association's Automated Clearing Settlement System.