Interac - Interac Solutions

Licensable Solutions

for Payment Networks

 

We are Canada’s most innovative payments technology company, processing more than 6 billion transactions annually at point-of-sale and ATMs, and offering Canada’s leading electronic money transfer service. Canadians choose the security and convenience of our products over 17 million times every day to pay and transfer money using the funds in their banking accounts.

We understand the needs and challenges of operating in an increasingly competitive and rapidly evolving marketplace. Our investment in the technology required to continuously innovate ensures that connected consumers can continue to choose our products now and well into the future, on multiple platforms and devices. We are making our knowledge and many of our solutions available to help you grow your brand in your local market.

Licensable Solutions
for Payment Networks


We are Canada’s most innovative payments technology company, processing more than 6 billion transactions annually at point-of-sale and ATMs, and offering Canada’s leading electronic money transfer service. Canadians choose the security and convenience of our products over 17 million times every day to pay and transfer money using the funds in their banking accounts.

We understand the needs and challenges of operating in an increasingly competitive and rapidly evolving marketplace. Our investment in the technology required to continuously innovate ensures that connected consumers can continue to choose our products now and well into the future, on multiple platforms and devices. We are making our knowledge and many of our solutions available to help you grow your brand in your local market.

Dual Interface EMV Specifications

A comprehensive set of Dual Interface EMV specifications and related artifacts have been used for almost a decade as the basis for our services.

We offer a fully operationalized solution to serve as the foundation for domestic payment networks and their members to deliver contact and contactless payments in a quick and cost-effective manner, and create a path to delivering mobile payments.

The specifications are built to EMV, ISO, and Global Platform standards and allow for co-badged implementations; today, applications built to the specifications reside on the same chip with other global payment brands’ chip applications.

Interac Debit Headline to Grab User Attention

Speed to market

With major global vendors of cards, terminals, test tools and more already certified to offer products using the specifications, time to market can be significantly shortened.

Interac Debit Headline to Grab User Attention

Cost

We are flexible with our licensing model and do not seek to interfere with transaction economics.

Interac Debit Headline to Grab User Attention

Control

The specifications can be modified to suit local market requirements, consumer branding is determined by individual networks, and the relationship between the network and its local members is preserved.

Mobile Payment Solutions

While the move to mobile payments can be costly and time-consuming, it has become necessary for networks to support. We recognized this early and made significant investments in Secure Element (SE), Host Card Emulation (HCE), and Original Equipment Manufacturer (OEM) pay solutions, as well as our own Token Service Provider (TSP). We had the foresight to ensure with the Dual Interface EMV specification that no changes to merchant terminals are required to support mobile payments. Also, the user experience of card technology and underlying guiding principles around authentication and fraud mitigation are carried over to the mobile implementation.

Notably, we became the first domestic debit network to launch Apple Pay in May 2016.

Our mobile component offer can increase speed-to-market and reduce costs, and we support various implementations – SE, HCE, and OEM-pay solutions with the following:

  • HCE applet and Software Development Kit (SDK)
  • Global Platform compliant SE applets and SDK (for both embedded SEs and Universal Integrated Circuit Cards)(for both embedded SEs and UICCs)
  • Applets for OEMs

Our SDKs come with a fully developed, fully functional, and customizable sample wallet that removes the complexities that exist in mobile payments to help increase speed to market. These solutions are built to scale and allow for continued innovation and ongoing improvements to the customer experience.

Domestic Money Transfer

Interac e-Transfer® is a convenient way to send and receive money directly from one bank account to another and has quickly transpired into a globally-leading platform for P2P, P2B, B2P and B2B money movement. In 2016, more than 158 million Interac e-Transfer transactions were conducted with a total value in excess of $60 billion.

We are making our solutions and knowledge available to help you build, manage, and maintain your own branded domestic money transfer service in your market.

Professional Services

With first-hand experience managing the challenges of operating a domestic payment scheme in a competitive market, and with a rich history of product innovation, we are uniquely positioned to help other domestic payment schemes by developing product strategies and tactical plans for their execution. We make available program documentation and expertise from our team of subject matter experts with direct, hands-on experience, to help support and accelerate the development and execution of your product roadmap, whether you are using our licensable solutions or not.

For more information contact:

James Good

Head of International Business Development

(647) 248-9660 / jgood@interac.ca

The Future of Digital Payments

Interac Association and Acxsys Corporation discusses the future of digital payments with financial services leaders from around the world

In this video:

Video courtesy of BankAxept

Apple Pay is a trademark of Apple Inc