Ch. 3, Ep. 5: Interac and your business’ security

Welcome back to From Dollar One, by Interac.

Over the last few episodes we’ve been talking about ways to protect your business against the risk of fraud.

There’s another way we want to help Canadian entrepreneurs grow and thrive, and that’s through the products and services we offer — which have layers of security built in.

For example, did you know Interac e-Transfer uses encryption and other bank-grade security features, to help keep your transactions secure? That helps explain why lots of Canadian entrepreneurs are choosing to use Interac e-Transfer to send money to suppliers and pay staff and contractors — rather than cheques.

And with Interac e-Transfer there’s no physical exchange of money, which lowers the concerns you may have over the potential of cash and cheques to get lost or stolen.

Interac e-Transfer is a great way to ask for money, too. When you use the Interac e-Transfer Request Money feature, it sends your clients a message reminding them to pay you. And it encourages them to use Interac e-Transfer to do so, which means they’ll be using a fast and secure payment method.

And here’s another tip: Did you know Interac e-Transfer Autodeposit can help keep your transactions secure?

Once you enable the Autodeposit feature, your incoming transfers will be automatically deposited in your account, following routine fraud checks by your financial institution.

You bypass the email step, which means any fraudsters who have gained access to your email account won’t be able to intercept the message and divert the funds.

Now let’s talk about another Interac service: Interac Debit. If you’re already using it to accept payments, you already know how convenient it is. But it also gives you sophisticated security features designed to protect your business.

And as a bonus, with Interac Debit the payment is ‘good-funds’ so it’s guaranteed with no charge-backs.

All right, one more product — one you may not have learned too much about yet. It’s called Interac Verified and it enables participating businesses to digitally verify potential customer and client data.

OK, but what does that mean? It’s a service that makes it easier for Canadians to prove they are who they say they are in digital interactions.

For smaller, up-and-coming businesses, you can use Interac sign-in service — which is part of Interac Verified — to access select government services. Like your tax information, or applying for business grants.

Visit Interac.ca/dollarone to learn more about Interac Verified, and about how our products and services can help you safeguard your business.

For now, that wraps it up for Chapter 3 of From Dollar One. At Interac we want Canadian entrepreneurs to thrive. So we hope the info we’ve shared is helping you feel more confident about taking charge of digital security, to protect the business you’ve built.

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Bye for now!