Interac - Interac Debit

INTERAC Debit is the leading payment choice, particularly for small purchases

When Canadian consumers reach for a payment card in their wallets, 56 per cent* of the time they choose Interac Debit.  That’s compared against all credit card brands combined.

Consumers across the country have made Interac Canada’s leading payment brand and a home-grown success story and part of our lives for nearly 20 years.  From the quick grocery store stops on the way home from work to filling up the gas tank on the way to the local hockey rink and a quick coffee run on route,  Interac Debit helps you make those everyday purchases securely, with ease and confidence, using your own money straight from your bank account.  Now, we’re even making it faster and more convenient with Interac Flash, the contactless enhancement of Interac Debit.

What does using INTERAC Debit mean to you?

Interac Debit and Interac Flash help you  take control of your finances and can help you avoid overspending. It’s like using cash, only more secure, as the money is exchanged electronically between your bank and the merchant.

Interac Debit and Interac Flash transactions occur  online (versus offline) and in real time so you can always keep track of your spending – all transactions must be card-present and approved by your financial institution (versus by the terminal and then sent to your financial institution for account posting) and appear instantly on your personal banking account records, allowing you to monitor your account balance to see exactly how much money you have available.

We know that security is important to you. Chip-enabled Interac Debit and Interac Flash cards are extremely secure and are protected from fraud tactics such as skimming, duplicating and electronic pick-pocketing.  Given the possible available data is payment transaction codes, not account-related details, and transactions are online and in real-time, no information can be captured by criminals to conduct fraudulent transactions or create identity theft.  You are also protected under Interac’s Zero Liability policy. 

If you would like a little more proof about our commitment to security, just look at how successful we’ve been in tackling Interac debit card fraud  - it’s plummeted by 70 per cent in the last two years to the lowest point since first recorded.  And, we’re not done yet.

How does choosing INTERAC Debit benefit merchants in communities across the country?

Interac Debit is one of the lowest cost payment acceptance methods for Canadian merchants.  At pennies per transaction regardless of the size of your bill, you can help out your local merchants when you pay with Interac Debit.  Credit cards can result in higher costs as many have multiple fees and are percentage based, from 1.5 per cent to 5 per cent, of the total amount you are spending. It adds up and hits merchants’ bottom line, particularly small independent merchants, where every penny counts.