As we emerged from the COVID-19 pandemic in 2022, Interac refocused its efforts on expanding access to its services for consumers and businesses alike. Our CEO reflects on our commitment to all Canadians.
Read the letter2022 Corporate Year in Review
Connecting Canadians to the Digital Economy
Interac Corp. empowers Canadians to transact digitally with confidence by providing payment and value exchange services. Developing the future of money and verification in Canada means security and privacy are at the core of everything we do.
The 2022 Corporate Year in Review provides information about our annual performance, 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 shared value across the ecosystem through the scale and reach of our networks and platforms.
In 2022, Interac worked to drive business growth, build communities and support employees.

Message from the President and CEO

Message from the Chair of the Board
Financial realities in 2022 highlighted the need for economical and empowering payment products. Paul Vessey, Chair of the Board of Directors, reflects on Interac successes and the role of the Board in shaping our impact.
Read the letterGood Corporate Governance
Our approach to corporate governance is based on the principle that good, transparent processes lead to proper outcomes. We enable that with clear direction and tone from the Board of Directors (Board) and accountability amongst our Executive team and staff.
Interac Governance Bodies
We hold ourselves accountable to a culture of transparency, integrity, and accountability at every level of the organization, from the Board of Directors to our Executive Team and our staff.
Board of Directors
Board members bring their industry insights, business experience, and individual perspectives while acting in the best interests of the company.
Read moreBoard committees
Seven Board Sub-Committees assist the Board in fulfilling responsibilities.
Read moreLeadership team
The Interac Executive Committee guides the Interac team in shaping the future of payments in Canada
Read more
A Culture of Good Ethics and Compliance
Good business ethics are essential to governance excellence. Interac has adopted a values-based ethics and compliance program that uses resources efficiently and closely aligns with our corporate culture.
Interac’s Code of Business Conduct and Ethics summarizes the basic ethical and legal principles that guide the conduct of Interac Corp. and its employees. It fosters an open and transparent environment where employees can raise concerns without fear of retaliation, establishes the ability to address complex and sensitive issues, and provides for accountability if standards of conduct are not upheld.

2022 Annual General Meeting of Shareholders
Interac is committed to creating a more equitable and inclusive organization. Interac President & CEO Mark O’Connell is one of many signatories of the BlackNorth Initiative Pledge, which outlines seven goals those signatories believe will move Canada toward ending anti-Black systemic racism and create opportunities for underrepresented groups. To extend our learning and deepen our allyship, Interac invited Wes Hall, Founder and President of BlackNorth Initiative (and dragon on Dragon’s Den) to the 2022 Annual General Meeting for a Q&A discussion where he shared insights into the BlackNorth Initiative’s vision and the power of representation.
Read moreCorporate Performance
In 2022, Interac met or exceeded performance as measured by the Board of Directors.
Investment Highlights
Interac invested in strategic priorities to drive growth of commercial solutions by increasing access to its services for consumers and businesses. Highlights include:
Business payments
Expanded access to Interac e-Transfer for Business across additional financial institutions.
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Transit
Worked closely with transit authorities across Canada to set foundation for open loop payments.
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Verification
Launched rebranded verification products acquired as part of exclusive licencing agreement with Gen Digital (previously SecureKey).
Read more
Developer portal
Launched an online portal to provide resources to help developers integrate with Interac platforms.
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Next-gen payment products
Alongside financial institution partners, built new solution frameworks for next-to-market products.
Read more
Technology resiliency
Welcomed a new Chief Technology Officer to strengthen current platforms and prepare for new technologies such as Real-Time Rail (RTR).
Read More

Fraud mitigation
24/7 mitigation tactics deployed across the Interac ecosystem drove low fraud losses – less than 0.03 cents lost for every $100 spent.
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People
Hired more than 200 top talents to be part of the Interac growth journey with specific focus on technology experts and developers.
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Key Markers of Interac Growth
Interac demonstrated progress across revenue, fraud mitigation, network resiliency and product growth.
Revenue growth
Fraud losses
Network resiliency
Digital Transaction Growth
As digital transformation progressed for Canadians, so did the use of Interac payment and verification solutions.
1B+ total Interac e-Transfer transactions
127% Interac e-Transfer real-time transactions growth YoY
11.6M total Interac e-Transfer Bulk transactions
6.2B total Interac Debit transactions
13.97% Interac Debit contactless growth YoY
~10M total transactions across Interac Debit e-Commerce via digital wallets
9% Interac Verification Services Transaction Growth in 2022
11% Interac Sign-In Service authentication growth in 2022

Interac Strategy for Future Growth
The Interac Strategy & Innovation group successfully enabled and received endorsement from the Board of Directors on the three-year corporate strategy, which has poised Interac to accelerate business successes by leveraging existing assets with a focus on growth and innovation.
Mandate:
To deliver, manage, and advance interconnected networks and platforms that provide shared value across its ecosystem and shareholders through the scale and reach it provides.
Priorities:
Key priorities focus on our core business, growth through in-flight initiatives, and innovative adjacencies relevant to value exchange.
Approach:
Deliver the three-year integrated blueprint and FY23 plan with a focus on people, delivery, and investment & return.
Broadening Access for Canadians
Interac is unlocking ways for Canadians to use and control their own money and data, while maintaining and growing the trust they place in us.

Helping Canadians Transact Digitally with Confidence
Canadians want to transact digitally, with greater choice in and control over how they pay. Businesses must adapt to evolving consumer payment preferences in order to deliver the seamless payment experiences they expect – and that is an area that Interac focused on in 2022.
Read moreWant to Know More?
Visit the stories below on Interac In the Know to learn more about how Interac is helping provide greater choice in and control over how Canadians pay.
Walmart Canada launches Interac Debit payments for e-Commerce
Walmart Canada and Interac Corp collaborate to offer customers the ability to pay with Interac Debit online and in-app.
Read moreWhat one billion Interac e-Transfer transactions mean for Canadian businesses
Interac reached a money movement milestone in 2022
Read moreSquare, Interac and CSEC announce program to help boost local businesses
Collaboration powers cashless sales while supporting small business with #YYCSpotlight Business Giveaway
Read more
Helping Canadians Verify Their Information Online
Interac remained steadfast in its commitment to protecting Canadians’ privacy and ensuring personal information is in their control when they choose to access online services. As digital transformation progresses, more Canadians are exchanging personal information online, including financial data and personal credentials. Interac verification solutions helps put Canadians in control of their information and how it is shared and used online.
Read moreWant to Know More?
Visit the stories below on Interac In the Know to learn more about how Interac is helping protect Canadians’ privacy and ensure personal information is in their control when transacting online.
Interac verification service puts privacy in the hands of Canadians
For the first time, the Interac verification service app is available for download as another option to verify personal information easily and securely.
Read moreInterac sign-in service to surpass 100 million transactions in 2022
Canadians seek convenient ways to authenticate themselves online.
Read more
Fuelling Innovation in Canada
Beyond payments, Interac – with its trusted brand, experience in foresight and strategy, and decades of experience delivering financial transactions to market – is well positioned to broaden access to digital tools and solutions for Canadians. Through exploration and development, our teams continue to leverage Interac core capabilities to diversify offerings and ensure Canadians can exchange value with confidence, today and in the future.
Read moreWant to Know More?
Visit the stories below on Interac In the Know to learn more about how Interac is fuelling innovation in Canada.
How the new Interac Developer Portal is designed to fuel the innovation ecosystem
The Interac Developer portal was built to support developers who work on products for the Canadian market.
Read moreAn inside look at the Interac Lab: A Canadian incubator for fintech innovation
Located at Communitech, the Interac Lab has been enabling Interac and the Canadians it serves to become more future-ready.
Read moreCollaborating with Interac: Innovation Partnerships
The Innovation Partnerships team brings together a unique web of players and perspectives.
Read more
Building Trust with Canadians
Trust is central to who we are at Interac. It’s been core to our 35+-year history and will be even more important as we innovate for the future. As a leader in Canadian fintech, we adhere to world-class security and innovation. And, as one of Canada’s most trusted brands, we prioritize consumer education and engagement that helps Canadians stay in control of their money and data.
Read moreWant to Know More?
Visit the stories below on Interac In the Know to learn more about how Interac is building trust with Canadians.
How Canadians can protect themselves in a digital world
Interac compiled the most common digital scams to watch out for, along with critical tips to help prevent them.
Read moreInterac leads as one of Canada’s most trusted brands
Trust is central to who we are at Interac.
Read moreSound Shopping: An exciting experiment in how music impacts spending
Interac explores how innovative tools can help people spend more mindfully.
Read moreHow Would You Like to Pay?
Using Interac Debit, Interac e-Transfer and Interac e-Commerce solutions helps you take charge and demonstrate the confidence that can come from being in control of your money.
Committed to People and Community
Empowering and developing employees as well as investing in communities were top priorities for Interac in 2022.
2022 Highlights
Interac is committed to investing in our people and the communities where we live and work.

Putting People First
Interac empowers employees to live their lives to the fullest – while at work and away. In 2022, we collaborated with employees to establish our hybrid work model, offering them the flexibility to work where they work best, and continued our commitment to providing best-in-class benefits, competitive salaries, and career development opportunities.
Read moreWhy do we do what we do at Interac?
This Is #InteracLife
What makes Interac special? The people who work here. That’s why we asked them to tell us what makes Interac, Interac.
Innovation
Create & Invent
Inclusion
Proudly Diverse
Intentional
People Programs
Investing
in Canadians
Inspiring
Growth
Want to Know More?
Visit the below stories on Interac In the Know to learn more about how Interac is putting its people first.

Investing in Communities
Interac is committed to excellent corporate citizenship and community investment rooted in helping Canadians get more out of life. We demonstrate our responsibility through impact-oriented programming that helps underrepresented groups build their financial and digital confidence. In 2022, we launched new learning programs aimed at helping Canadians build financial confidence and invested a record number of funds in our communities.
Read moreWant to Know More?
Visit the below stories on Interac In the Know to learn more about how Interac is investing in communities.
Building financial confidence through community outreach and education
An Interac commissioned financial confidence survey reveals insight into common issues threatening financial confidence of Canadians.
Read moreInterac employees make a difference during National Volunteer Week
CSR at Interac is about the actions we take and the impact we make.
Read moreBuilding a workplace culture that supports Black employees
Wes Hall, Founder and President of BlackNorth Initiative, talks about the power of representation.
Read moreAwards and Accolades
Interac is proud to be recognized for its work.









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