May 6, 2016
Interac is a Canadian non-profit inter-bank network that connects financial institutions and other companies to exchange electronic financial transactions. It was founded in 1984 through the collaboration of five financial institutions: RBC, CIBC, Scotiabank, TD, and Desjardins.The head office of Interac is located at Royal Bank Plaza in Toronto.
Interac Online, a popular online direct debit payment method in Canada. The deal allows international companies to accept direct debit payments online without having a registered company in Canada.
Interac Online,offered by hundreds of online payment merchants,allows you to pay for your purchases directly from your bank account easily. Whether you’re ordering dinner, looking for a gift for someone special, or dedicate yourself to that brand new pair of shoes, Interac Online is an instant, secure, and easy-to-use online payment method. Payments with Interac Online are made through your existing online banking account without having to create new user names, passwords or accounts.
When you pay for online purchases with Interac Online,you will not be charged any of your financial informations, such as online banking information, to the merchant or any third parties. Your payment will be processed through your financial institution, who settles with the merchant using established and secure banking procedures.
Research has shown that 47% of Canadians prefer to pay with direct payment method. Therefore, companies that have active local payment methods at the checkout tend to receive almost twice more revenue than those without it.
More than this,Interac Online also offers a chance for international companies that 14 million Canadians prefer to use direct debit payment methods.Furthermore, Interac Online is proven to be an extremely safe and secure, decreasing the risk of costly chargebacks and fraud.
In addition, Interac Online also can help you better manage your finances.You can pay immediately from your bank account by using available funds.It is not similar to credit cards where you may owe more later.