Trust is a key priority for our business, one we hold at the core of everything we do. That’s one of the reasons we’re chosen 18 million times a day to pay and move money.
One of the Most Trusted Brands in Canada
Interac Corp. has been recognized as one of the most trusted brands in Canada. According to The Gustavson Brand Trust Index (GBTI), presented by the Peter B. Gustavson School of Business at the University of Victoria, Interac is tied for the #1 most trusted financial services brand, topping the list for the sixth consecutive year.
Strengthening Trust During Crises
In light of the COVID-19 pandemic, GBTI conducted a follow-up study of Canadian consumers to evaluate whether or not the level of trust they had with brands changed during the pandemic. In the follow-up report, Interac was rated the 7th most trusted brand in Canada. These findings come as COVID-19 accelerates the shift to digital payments across Canada. Since mid-March, first-time Interac e-Transfer® users increased by 43 per cent and the average number of transactions increased by 9 per cent compared to the same time last year. While Canadians were using these methods regularly pre-pandemic, a surge in growth of new users on the Interac e-Transfer platform suggests that the shift to digital will last beyond pandemic measures. In April, a record-setting 61.3 million Interac e-Transfer transactions took place.
Interac has been a trusted and secure Canadian brand for over 35 years and plays a critical role in the Canadian economy. In 2019, Canadians used Interac products to move $427 billion across 6.1 billion transactions. As an organization, Interac works hard to keep Canadians’ money safe and has invested in world-class fraud prevention. Interac has one of the lowest fraud rates globally.
During times of crisis, trust matters more than ever. It plays a critical role in Canadian society and Interac is proud to be recognized as an organization Canadians can count on. Ensuring Canadian businesses and consumers can transact securely isn’t just a business priority – it’s at the core of everything we do.
How Trust Was Measured
GBTI measured five different dimensions of trust that influence whether consumers recommend a brand to their networks:
Brand Trust: consumer perceptions of whether or not the brand is trustworthy and acts with integrity.
Functional Trust: consumer perceptions on how well the brand performs (delivers on its core promises).
Value-based Trust: consumer perceptions of the brand’s social responsibility.
Relationship Trust: consumer perception of how the brand interacts with its customers.
Word of mouth: the extent to which consumers recommend the brand to others.