Interac - For Merchants

 

Lower your transaction costs
with Interac Debit

Interac Debit is a secure and convenient payment option that allows your customers to use their Interac debit card to purchase goods or services using their own money, straight from their bank account. Transactions are approved online and in real time as your customer’s money is exchanged electronically to you from their financial institution. Interac Debit is available 24 hours a day, seven days a week, so it is available to your customers anytime during your normal business hours.

Lower your transaction costs
with Interac Debit


Debit is a secure and convenient payment option that allows your customers to use their Interac debit card to purchase goods or services using their own money, straight from their bank account. Transactions are approved online and in real time as your customer’s money is exchanged electronically to you from their financial institution. Interac Debit is available 24 hours a day, seven days a week, so it is available to your customers anytime during your normal business hours.

The everyday payment solution

Interac Debit is the everyday payment solution that is in nearly every Canadian's wallet. When you offer Interac Debit, you will benefit from the following:

  • No chargebacks - The funds are always good as the financial institution authorizes the payment.
  • Economical transaction fee - Interac Debit is a low cost payment acceptance option for merchants at a single flat-fee, regardless of the purchase price
  • Lower chance of losses - accepting Interac Debit means reduced chance of loss due to cash mishandling or theft
  • Easy implementation - Interac Debit can be simply integrated into your existing technology

Security you can trust

As a merchant, you are guaranteed funds with every approved transaction.

Typically, you'll receive a deposit directly to your business account the next business day for all Interac Debit transactions. This means there are no chargebacks to you with the Interac good funds model.

You can also trust in the security of the product and our policies:

  • Interac Debit leverages the added security of chip technology
  • Interac Zero Liability Policy means your customers can use Interac Debit with confidence.

How to offer Interac Debit to your customers

To offer Interac Debit to your customers, your first step is to contact a participating Acquirer or payment service provider. An Acquirer or payment service provider operates card-accepting devices, such as Interac Debit terminals at the Point-of-Sale, which capture and transmit relevant data needed to undertake a transaction through the Interac network to the Issuer. Contact one of our participating Acquirers or payment service providers below for more information on debit terminals, fees, and getting started.

How to offer Interac Debit to your customers

To offer Interac Debit to your customers, your first step is to contact a participating Acquirer or payment service provider. An Acquirer or payment service provider operates card-accepting devices, such as Interac Debit terminals at the point-of-sale, which capture and transmit relevant data needed to undertake a transaction through the Interac network to the Issuer.

Contact one of our participating Acquirers or payment service providers below for more information on debit terminals, fees, and getting started.

"Interac is a flat rate fee and it really saves across the board for the business"

- Patrick McMurray – Owner, The Ceili Cottage

How Interac Debit works

Interac Debit transactions are transmitted through the Interac network where your customer’s financial institution verifies their PIN and funds before the approval message is returned to your Point-of-Sale (POS) terminal.

Interac Debit at point-of-sale

When you ring up a sale, you will be prompted to enter the purchase amount into your point-of-sale terminal. Your customer will then be prompted to insert their card and do the following:

  • Confirm the transaction amount
  • Select the chequing or savings account that is to be debited
  • Enter their Personal Identification Number (PIN)
  • Provide a final okay to send the transaction request for approval.

Upon completion of a successful purchase, your customer will retrieve their debit card and can also take a copy of the transaction receipt.

Interac Debit Headline to Grab User Attention

Refunds with Interac Debit

Refunds and exchanges are a matter of merchant policy. However, refunds can be processed through the Interac Debit service, provided the cardholder is present to authorize the refund transaction.

Interac Debit Headline to Grab User Attention

Cashback

When you offer the Interac Debit service you also have the option of offering a courtesy service to your customers known as "cashback". That is, a service offered to retail customers whereby an amount of cash is added to the total purchase price of a debit transaction. It is entirely up to individual merchants to decide if they wish to offer this option.

Interac Debit Headline to Grab User Attention

Fees and surcharges

Interac Corp. does not directly charge fees to merchants. Interac Corp. participants or their business partners who offer Interac services to merchants may charge fees for use of the services. For more information on merchant fees, please click here

Code of Conduct for the Credit and Debit Card Industry in Canada

The Code of Conduct for the Credit and Debit Card Industry in Canada (Code of Conduct) was introduced by the federal Minister of Finance in April 2010. It contained ten provisions that direct the market conduct of payment card networks, and their issuers and acquirers and is intended to foster healthy competition by increasing transparency and by empowering payments system users – in this case, merchants and consumers – with the information needed to make effective decisions.

Enhancements to the Code of Conduct, particularly in the area of mobile payments, were released by the Finance Minister on April 13, 2015, to further promote fair and healthy competition, and reinforce the importance of choice and transparency for merchants and consumers.

The Code of Conduct is a pragmatic and flexible public policy tool that sets clear and effective principles for the payments industry to follow, while being technology agnostic and not pre-judging market outcomes. Interac Association and Acxsys Corporation endorse and adhere to the Code of Conduct.

 

The Code of Conduct for merchants

For merchants, the Code of Conduct is designed to improve payment acceptance conditions in Canada. There are a number of key provisions around choice and transparency that merchants can use to their advantage to help lower acceptance costs:

  • Merchants can not be forced to accept credit card companies’ debit products, often with higher acceptance costs, if they accept the credit offerings.
  • Merchants have the ability to steer customers to lower costs options, like Interac Debit, through discounting.
  • Merchants have control over contactless payment acceptance and can choose to turn off mobile acceptance if there is a price differential between types of mobile payments, and mobile and card-based contactless payments.

The Code of Conduct gives merchants in Canada powers nearly unheard of elsewhere around the world. We encourage merchants to be aware of the mechanisms in the Code of Conduct and to be fully informed about making payment acceptance decisions, as these decisions can have a significant impact on their bottom line.