Bank transfers & instant payments · On request
Interac
Interac is Canada's interbank network, owned by the country's financial institutions: Interac e-Transfer moves money between accounts at Canadian banks and credit unions from the payer's own online banking, and it is the everyday way to pay a person or a business without a card. For a checkout it means a deposit confirmed within minutes, a payout to the same account and no chargebacks, since a deposited transfer is final.
Key facts
- Countries
- Canada
- Currencies
- CAD
- Operations
- Pay-in · Payout · Refund
- Settlement
- instant
- Chargebacks
- not possible
How a payment goes through
- 1The checkout shows the account details, the amount and a reference
- 2The payer sends the transfer from their banking app
- 3The provider matches the incoming transfer by reference and amount
- 4Webhook to the merchant; unmatched transfers are refunded
How a payment goes through
- The checkout offers Interac e-Transfer and shows the recipient details and a reference, or the provider sends the payer a request for money.
- The payer logs in to the banking app or online banking and sends or accepts the transfer.
- The funds land with automatic deposit and the provider confirms, usually within minutes.
- Tranzify writes the result and calls the merchant’s webhook.
Interac e-Transfer against cards in Canada
Interac has run Canada’s debit network since 1984 and e-Transfer since 2002; a transfer goes from account to account, so the payer needs no card and the merchant sees no card data.
| Interac e-Transfer | Cards | |
|---|---|---|
| What the payer needs | online banking at a Canadian bank or credit union | a card accepted by the acquirer |
| Confirmation | minutes | at once |
| Chargebacks | none | scheme rules |
| Recurring | no | yes, with tokens |
| Payouts | yes, a transfer to the payer’s e-mail or phone | push to card |
The method is in the catalogue on request.
Who uses it
iGaming, forex and fintech for deposits and withdrawals in Canadian dollars; e-commerce and digital goods for payers who keep their card off the internet. A client, a payment company operating in Canada under its own registration, enables Adyen or Nuvei for Interac under its own contract; the integration is enabled on request.
How to connect
- 1Onboard with Tranzify and get your network, keys and back office.
- 2Enter your account with the provider in the terminal settings — Tranzify already speaks its API.
- 3Add routing rules: countries, currencies, amounts, BIN ranges, priorities and weights.
- 4Go live. Every payment, callback and retry is in the journal for five years.
Providers offering this method
On request — Request this integration
Industries
Frequently asked questions
How does the payer pay with Interac e-Transfer at checkout?+
Are there chargebacks or limits?+
What happened to Interac Online?+
Related methods
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- ✓ Not a financial institution
- ✓ Money never passes through us
- ✓ Built to PCI DSS requirements