Interac Flash contactless debit technology enables a speedy check-out
TORONTO, October 30, 2013 – Interac Association announced today that Canadians can move through the checkout more quickly when they pay for their purchases using Interac Flash at select Loblaw Companies Limited (Loblaw) banner stores. As Canada’s first and only contactless debit payment solution, Interac Flash enables Interac Debit cardholders to make contactless transactions at the point-of-sale quickly, safely and conveniently. Loblaw, Canada’s largest food retailer, has started accepting Interac Flash at select stores.
“Interac Flash helps deliver a faster, more convenient checkout experience for customers wanting to pay using funds from their own bank account,” said Mark O’Connell, President and CEO, Interac Association and Acxsys Corporation. “We’re excited that Loblaw sees the value in offering Interac Flash to help enhance the customer shopping experience.”
More than 14,000 Interac Flash enabled terminals will be deployed at Loblaw banner store locations across Canada. The deployment will be managed by Global Payments Inc., one of the world’s largest electronic transaction processing companies.
About Interac Flash
Interac Flash gives cardholders the choice to pay for smaller value purchases faster than ever before by simply holding their card at a contactless point-of-sale reader that supports Interac Flash.
Interac Flash uses chip security and the existing chip debit infrastructure, which protects it from fraud tactics such as copying and “electronic pick-pocketing.” It offers strong consumer protections and unique security features, including the fact that the card never leaves the user’s hand. Leveraging the trusted Interac brand, cardholders are also protected from unauthorized transactions under the Interac Zero Liability Policy and merchants continue to receive the benefits of secure and non-refutable transactions associated with PIN-based Interac Debit.
Interac Flash enabled debit cards are already being issued by Scotiabank, RBC Royal Bank, TD Canada Trust, Sunova Credit Union, Affinity Credit Union and Conexus Credit Union, and an increasing number of merchants are signing up to provide the service to their customers.
About Interac Association
A recognized world leader in debit card services, Interac Association is responsible for the development and operations of the Interac network, a national payment network that allows Canadians to access their money through Interac Cash at 60,000 Automated Banking Machines and Interac Debit at 766,000 point-of-sale terminals across Canada. Interac Flash, a secure contactless enhancement of Interac Debit, allows Canadians to pay for items instantly with their Interac chip debit card at a reader that supports Interac Flash.
Interac Association was founded in 1984 and is comprised of a diverse membership that includes banks, trust companies, credit unions, caisses populaires, merchants, and technology and payment-related companies.
Other related services offered by Acxsys Corporation, whose shareholders are the architects of the Interac network, include: Interac Online, for secure online payments made directly from a bank account; Interac e-Transfer, for the transfer of money from one person’s bank account to another person’s bank account using an email address or mobile phone number**; and international services, which provide Canadian cardholders with point-of-sale access at nearly two million U.S. retailers, and PULSE, Discover, Diners Club International and UnionPay cardholders access to ABMs in Canada.
About Loblaw Companies Limited
Loblaw Companies Limited, a subsidiary of George Weston Limited, is Canada’s largest food retailer and a leading provider of drugstore, general merchandise and financial products and services. Loblaw is one of the largest private-sector employers in Canada. With more than 1,000 corporate and franchised stores from coast to coast, Loblaw and its franchisees employ more than 134,000 full-time and part-time employees. Through its portfolio of store formats, Loblaw is committed to providing Canadians with a wide, growing and successful range of products and services to meet the everyday household demands of Canadian consumers. Loblaw is known for the quality, innovation and value of its food offering. It offers Canada’s strongest control (private) label program, including the unique President’s Choice®, no name® and Joe Fresh® brands. In addition, the Company makes available to consumers President’s Choice Financial® services and offers the PC® points and PC Plus™ loyalty program.