Interac and Bambora to Offer Cross-border E-commerce Payments
Interac has announced its work with Bambora to soon allow Canadians to use Interac Debit to pay for e-commerce purchases from merchants domestically and cross-border.
Interac and Bambora’s work together is designed to benefit small- and medium-sized businesses that already use Bambora by allowing them take advantage of the wide debit base that Interac offers. International merchants will benefit from the Interac Debit ‘good funds’ model, in which payers’ funds are immediately deducted from their bank account, eliminating the risk of chargebacks. Additionally, international merchants will gain access to the Canadian Interac Debit network, while expanding their digital footprint in Canada.