AMSTERDAM | Adyen adds Interac Online, the popular Canadian online payment method, to its payment method offering and becomes the first international Payment Service Provider to offer Interac Online. Adyen merchants active in Canada or selling to Canadian online shoppers are now able to offer their preferred payment option.
Context: what is Interac Online?
Interac Online is the easy-to-use alternative payment method in Canada using secure online bank transfers to complete online purchases. When a shoppers chooses to pay with Interac Online at checkout, he or she is redirected to the Interac web page and asked to select their online bank and login. After logging in and selecting the bank account, the shopper confirms the payment amount and returns to the merchant website for the order/payment confirmation page. Interac Online is currently offered by the Bank of Montreal, RBC, Scotiabank, and Canada Trust. By default, any online banking customer at these institutions is able to use it as a payment method – a figure that currently stands at around 9.5 million Canadians. Important stats on Interac Online:
- 24 million Canadians have a bank card
- 9.5 million Canadians enabled to use Interac Online
- 73% of the people who bank and shop online and also want debit online
- 74% of the people who prefer to use their own money over credit
Canada's Popular Online Payment Method
The Interac stats show there is clearly a national preference for debit over credit. Merchants active in Canada or internationally operating and looking to tap into the growing Canadian ecommerce market, Interac Online is needed to increase sales and attract online shoppers. Besides responding to the preference of many Canadian online shoppers it also allows merchants to reach new potential customers that do not want to use a credit card or do not have access to it (youngsters).
Key advantages of accepting Interac Online
With Interac Online, the authorization of payment is controlled by the customer through online banking, which reduces claims of fraudulent transactions and chargebacks. No personal banking information is shared with the merchant, funds are directly debited from the customer’s chosen bank account via the bank’s secure network, and the merchant is guaranteed once the transaction is approved.
More information on Interac Online
Please visit the Interac Online website for more information and reach out to Adyen for insights and guidance to start accepting Interac Online in your ecommerce shop or for your online business. Click here to read the original article by Adyen.
Adyen is a global provider of international and multichannel payment solutions. The Adyen Payment Platform supports all sales channels, including online, mobile, Point-of-Sale (POS) and Mobile Point-of-Sale (MPOS) payments, and offers solutions that increase revenue while managing risks and reducing costs. The Platform is highly scalable and can be completely customized to meet any merchant requirement. Adyen processes 224 local payment methods and 187 transaction currencies used on six continents, making it the ideal partner for international expansion. Many high profile customers use Adyen including Groupon, Badoo, SoundCloud, Getty Images, Mango, KLM, PopCap Games and Vodafone. Adyen is headquartered in Amsterdam, with offices in London, Paris, Berlin, Stockholm, San Francisco, Boston, Sao Paulo, and Singapore. The company processed more than USD 10 billion in 2012.