Interac payment method has gained popularity due to the high degree of security than any other online payment method. In the Interac payment system, the customers pay for their purchases by transferring the funds to the merchants from their bank accounts. Acxsys Corporation owns Interac. Initially, it was available only in Canada. It has expanded its operations and provides its services to more than 300 merchants, and over 200 financial institutions in Canada support Interac secured network.
How Does Interac work?
Interac payment method is based on the direct-banking method. It’s a Canadian national network for the secure payment of goods and services. Interac is fast, but sometimes it can take up to 30 minutes for the transaction to be reflected depending on the bank service. Interac has launched its money transfer service with the name of Interac e-Transfer. Interac e-Transfer is a simple way to transfer money as you need to provide the email and active mobile number of the recipient linked to the online Canadian bank account.
What is Interac e-Transfer?
Interac e-Transfer is the fastest and safest option for the Canadian folks to wire transfers their money to family/friends or the merchants. Interac e-Transfer is further enhanced by introducing more attractive features like:
Interac e-Transfer Autodeposit
The customers have to register for an Autodeposit account and link that account to the Bank account.
Interac e-Transfer Request Money
The customers can send the request to the sender in advance to transfer the money.
With Interac e-Transfer, you can send the money internationally by using the Canadian account, but overseas the recipient can receive it via Western Union.
Interac offers some other attractive products to its valued customers. These products are convenient in use and let the users stay within budget. The most popular one is Interac Debit. It comes in both forms of plastic cards and digital wallets.
Interac Debit card is mostly used to make payments to the merchants for online purchases. Interac Debit transactions are secured as Interac has incorporated chip technology to the debit card.
Interac Online Casino Payments
Many online gamblers residing in Canada prefer to use the Interac payment method to play in online casinos. It boasts a range of benefits like instant deposits, withdrawals, budget control, and safety and security. Making Interac deposits or Interac withdrawals is easy.
Interac deposits at online casinos can be made by using an Interac Debit card. But the gamblers are using their online accounts to use this debit card.
- At cashier select Interac Deposit Method
- Provide required details and select the bank account you want to use to transfer funds
- Enter the deposit amount
- The amount will be reflected in your account in a while.
The process of withdrawing your winnings is the same as of deposit. But it can take up to 2 to 7 hours for the funds to be reflected in your account.
Interac Pros & Cons
- It’s the most secure and fast payment method.
- Many payment solutions are available for users.
- At casinos, you can either use an Interac debit card or e-Transfer
- Not widely available across the world. It is available only in Canada.