With millions of Canadians depending on Interac solutions every day, we worked quickly to maintain business continuity, network stability, and security at the onset of and throughout the pandemic.
Read the letterInterac Corp. empowers Canadians to transact digitally with confidence by providing payment and value exchange services rooted in security, reliability, and efficiency.
The 2020 Corporate Year in Review provides information about our annual performance, our strategic plans and the role Interac plays in the lives of Canadians. While not a publicly traded company, transparency and accountability are central to our place in the Canadian economy. We are focused on delivering value to our stakeholders and collaborating across the financial industry to streamline life for Canadians.
Message from the President and Chief Executive Officer
Corporate Performance
In a year of unprecedented uncertainty and change, Interac met its financial targets for the 2020 fiscal year.
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21%
Consolidated revenue growth
45%
YoY growth of Interac e-Transfer transactions
11.8%
Strategy
Interac plays an important role in the Canadian payments ecosystem, connecting our participants to their customers across Canada. Our strategy in 2020 focused on the following:
- Paving the way for rapid commercialization through a unified Interac digital platform
- Laying the foundation for new lines of business
- Building on our leading position in Canadian payments
- Seeking a leadership role in digital ID
People and Community
During a challenging year we were inspired to look inward and find new ways to outwardly support our communities, embrace inclusivity and drive positive change.
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