Interac - Interac Debit is a low-cost payment solution for merchants in Canada

Interac Debit® is a low-cost payment solution for merchants in Canada


At Interac Association, our goal has always been – and remains – to provide merchants with a low-cost, secure payment acceptance option and consumers with a convenient, secure and easy way to pay. Today, the Interac network is Canada’s only domestically run, coast-to-coast debit system, handling approximately 54 per cent of all card payment transactions in Canada at point-of-sale.

While we recognize that payment acceptance is just one of the costs of running a business, we know that it is a line item that is increasingly less predictable and more costly, and a true pain point for many merchants. That’s why we strive to be the low cost provider and trusted partner for merchants in Canada. Interac Debit is low-cost, has no chargebacks and offers peace of mind of real-time, secure payments.

For example, when a customer pays with Interac Debit, a merchant pays around $0.06 per transaction to its payment processor – a single flat fee, regardless of retail purchase price. From that amount, Interac Association receives a fee of $0.006362. In comparison, if the person chooses credit, the merchant pays from around 1.5 to over 3 per cent of the item's retail cost for interchange alone, not including other possible processing fees. As a result, on a $100 purchase, based on current rates, a merchant pays between $1.50 and $3.00 for the interchange on a credit card transaction, but only a flat fee of $0.06 for an Interac Debit transaction.

Interac Association is pleased to remind merchants of the continued advantages and lower costs of promoting Interac Debit and Interac Flash use in store. We also encourage merchants to be fully informed about making payment acceptance decisions, as these decisions can have a significant impact on their bottom line.


About Interac Association / Acxsys Corporation

Interac is Canada’s leading payment brand. Together, Interac Association and Acxsys Corporation operate an economical, world-class debit system with broad-based acceptance, 24/7 reliability, security and efficiency. The brand is chosen an average of 12 million times daily to pay and exchange money. Interac products and services securely connect people to their money at the ABM through Interac Cash, at retailers across Canada through Interac Debit and the US, and online through web based services – Interac Online for online purchases, and Interac e-Transfer for person-to-person payments. In addition, Interac Flash, the secure contactless enhancement of Interac Debit, is in widespread use at retailers across Canada and provides the platform for mobile NFC proximity payments. The organization is also a leader in the prevention and detection of fraud.

Interac, Interac Debit and Interac Flash are trade-marks of Interac Inc. Used under license.