Explore Faster Forward, the 2024 Interac Corporate Year in Review
Interac had a pivotal year in 2024. It was a milestone year, marking 40 years of helping Canadians transact seamlessly and safely. At the same time, it was a foundational year for what the next chapter will look like, as Interac set the stage for its new three-year strategy.
Interac is one of Canada’s most trusted financial brands, and its products serve as a cornerstone of Canada’s financial system, powering over 20 million transactions daily. From tapping their debit cards to pay for everyday purchases to sending money to loved ones and accessing critical services securely, Canadians rely on Interac every single day.
The digital maturity of Canada’s financial system today has benefited from Interac innovation over the last four decades – from establishing Interac Debit and evolving to contactless, mobile and Interac e-Transfer payments, to introducing the Interac Verified product suite, a game changer for protecting Canadian consumers and businesses.
It is a privileged position to be in, and one that comes with both responsibility and opportunity, which the Board can confidently say Interac embraces. Its deep legacy and unique place in Canada’s economy makes Interac well placed to lead Canadians to digital prosperity.
That is the vision the organization will pursue over the next three years through key investments in real-time payments, fraud detection and prevention, and digital commerce.
On behalf of the Board, I want to express our gratitude to President and CEO Jeremy Wilmot and the Interac Executive Team, as well as the innovators across the organization. Their dedication to empowering Canadians’ financial security and ability to connect meaningfully to an increasingly digital economy is a demonstration of the organization’s purpose driven values.
As Interac continues to move faster forward, the commitment to providing low cost, reliable and accessible services to Canadians from coast to coast to coast will carry on.
The same is true for its commitment to strong governance. The robust governance model reflects best corporate governance practices and a commitment to an inclusive digital ecosystem while instilling a visionary approach to payments. With a national commitment to an open era of finance, Interac is able to reinforce governance at every level while delivering solutions for Canadians.
With that in mind, we are proud to welcome our newest Board members, who joined the Board in 2024: Mathew Mehrotra, Chief Digital Officer and Head of Canadian Products at BMO Financial Group and Nicolas Coulombe, Chief Security Officer at Desjardins Group.
The integrity of our financial landscape has helped Canadians weather difficult economic storms in the past – and will continue to ensure we are resilient in the years ahead.
As we turn to 2025, I am confident in the role Interac plays in the lives of everyday Canadians and look forward to cementing that in the years to come.
