Interac Online service is a new payment option that allows consumers to pay for goods and services on the Internet directly from their bank account.

Interac Online service works by leveraging existing processes and relationships:

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)
  

For more information or to apply for Web Payment Plug-in, please call 1-866-999-VPAY