Interac e-Transfer service sees 2018 highs
Interac Corp. has released record numbers for its Interac e-Transfer service in Canada, which reports more than 371 million transactions in 2018, worth a total of more than CA$132bn. This represents a 54% increase in volume and a 45% increase in value over 2017.
Interac said that business owners are increasingly seeking digital solutions to better manage business administration and cash flow. Interac e-Transfer provides a transformative way to simplify and streamline business payments, with the ability to request and make payments, ultimately saving small businesses time and money.
The report showed that businesses sent over CA$465m using the Interac e-Transfer Bulk Disbursement feature – allowing businesses to send bulk payments in a streamlined and secure way in a single file upload from online or mobile banking.