Interac e-Transfer participation
Interac e-Transfer supports secure digital money movement in Canada. Eligible organizations can apply to become a Participant and connect directly to the network or indirectly through a qualified Connection Service Provider (CSP).
Email newapplicants@interac.ca to request information or initiate the process.
Who can apply
Participants are required to meet all the requirements (including technical requirements) found in the Interac e-Transfer service’s governing documents. Participation in the Interac e-Transfer service is limited to regulated financial service entities in Canada that meet specific eligibility criteria.
These entities include:
- a federally regulated bank
- both an investment dealer regulated by the Canadian Investment Regulatory Organization (CIRO) and a FINTRAC-registered Money Services Business (MSB)
- both a Payment Service Provider (PSP) regulated under the RPAA and a FINTRAC-registered MSB
- a central cooperative credit society, a cooperative credit association or a local cooperative credit society a foreign bank with at least one full-service branch in Canada
- a foreign life insurance company
- a trustee of a qualified trust
Connectivity options
- Direct Exchange Participant (DEP)
A Participant that connects directly to the Interac network to exchange Interac e-Transfer transactions.
Typical fit: Organizations with the scale/need to operate their own direct connectivity and day-to-day operational capabilities. - Indirect Exchange Participant (IEP)
A Participant that uses a Connection Service Provider (CSP) to connect to the Interac network.
Key point: Each Indirect Exchange Participant must appoint a CSP, and the CSP must be authorized by Interac before connecting the IEP to the network. - Connection Service Provider (CSP)
A Person (including a Direct Exchange Participant, but not an individual) recognized by Interac as qualified to connect one or more Indirect Exchange Participants to the Interac eTransfer service through the network.
What CSPs do (high level): CSPs provide connectivity for IEPs and are expected to comply with applicable governing documents for the activities they perform as a CSP.
Important note:
All Participants connecting through any of the above options are still required to establish arrangements for settlement of their transaction obligations (either directly or indirectly), in accordance with existing governance.
Connection Service Providers (CSPs)
Interac maintains this list to improve transparency for prospective Indirect Exchange Participants. Inclusion in the list of CSPs is optional and does not obligate a CSP to engage with or onboard a prospective IEP.
*This list may be updated from time to time.
- Central 1
- Desjardins
- People’s Trust Company
- Digital Commerce Bank
- Prairie Payments Joint Venture (via Credit Union Central of Canada- CUCC)
Fees
IEPs connecting via a CSP may be subject to additional fees charged by the CSP for their services, in addition to the standard Interac e-Transfer fees outlined here: Understanding Interac e-Transfer Fees.
FAQs
Do I need a CSP to join?
If you join as an Indirect Exchange Participant, you must use a CSP to connect to the network.
What is a CSP?
A CSP is an entity recognized by Interac as qualified to connect one or more Indirect Exchange Participants to the service through the network.
Is it guaranteed that listed CSPs will engage and onboard all IEPs that make an inquiry?
No. Being listed as a CSP is intended to enhance transparency and make service providers easier to identify; however, it is at the CSP’s discretion to decide whether to engage with and onboard any inquiring Indirect Exchange Participant (IEP).
Do all participation options require settlement arrangements?
Yes. All Participants – direct or indirect – must establish arrangements for settlement of transaction obligations in accordance with existing Interac governance.
How do we start?
Email newapplicants@interac.ca to request more information or initiate the process.