Coming in 2007, Interac Online will allow consumers to pay for goods and services on the Internet directly from their bank account. With Interac Online you can offer your consumers another payment option, while benefiting from the full range of benefits offered by Interac Online.

Merchant Benefits:

• Good funds model: the financial institution authenticates the consumer and ensures funds are available in their account; if approved by the financial institution, the merchant has a payment guarantee that cannot be charged back.
• No authentication costs: the financial institution authenticates the consumer
• Attracts new customers: consumers concerned with sharing financial information online, consumers unable to obtain credit (e.g. youth) and consumers looking for new, innovative payment alternatives
• Easy to implement: leverages current online banking, payment processes and communication networks

Consumer Benefits:

• Privacy: no need to provide any financial details, card number, or login information to the online merchant.
• Ease of use: creation of new passwords or accounts is not required.
• Security: the payment is completed through the financial institution they know and trust.
• Choice: provides a comfort level for consumers who do not have a credit card or are reluctant to use one over the Internet.

Interac Online security features:

• No sensitive information is shared between the online merchant and the consumer's financial institution
• The Interac Online service leverages the existing secure, reliable Chase Paymentech networks
• The authentication is completed through the financial institution's systems and the payment is completed over the Interac Inter-Member network (IMN)

To learn more about Interac Online, please call us at 1-866-833-8182 or email us by clicking on the "contact sales" button.