Full-Time
Posted on 11/1/2025
Payments network enabling access and transfers
No salary listed
Toronto, ON, Canada
In Person
| , |
Interac is a Canadian payments and identity network that connects nearly 300 financial institutions to enable safe, digital payments and money transfers. It operates a payments network that links banks to support transactions like payments and person-to-person transfers, as well as identity-related experiences, so Canadians can access, spend and send funds quickly and securely from anywhere. What sets Interac apart is its large, trusted nationwide network and strong emphasis on interoperability, security, privacy, and inclusivity, along with a high everyday usage average (about 18 million Interac experiences per day). The company’s goal is to make payments and identity services more accessible and reliable for Canadians while maintaining security and privacy, and continuing to broaden financial inclusion.
Company Size
501-1,000
Company Stage
N/A
Total Funding
N/A
Headquarters
Toronto, Canada
Founded
1984
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Interac and Kijiji have partnered to integrate Interac Verified solutions into the Canadian peer-to-peer marketplace, allowing users to verify their identity before messaging, posting listings or making purchases. The integration aims to establish a new trust standard for peer-to-peer commerce in Canada. Kijiji users at participating financial institutions can now verify their identity through Interac verification service. Later this year, a second option using document verification with liveness checks against government-issued ID will become available. Verified identity will complement existing trust signals like ratings and reviews. The collaboration leverages Interac's existing trust framework, which financial institutions and governments already use for identity verification. With more than four million live listings and over one million new listings monthly, Kijiji is one of Canada's most active peer-to-peer commerce platforms.
Interac appoints D'Arcy McDonald as Group Head, Product. Updated on March 27, 2026 | Published on February 2, 2026 Dynamic banking and payments executive to lead next phase of the Interac product roadmap TORONTO, February 2, 2026 - Interac Corp. (Interac) announced today the appointment of D'Arcy McDonald as Group Head, Product, effective immediately. Mr. McDonald will lead the evolution of the Interac product portfolio - advancing trusted, secure services such as Interac Debit, Interac e-Transfer and the Interac Verified suite of solutions, while developing and accelerating the growth of emerging products including KONEK. Together, these offerings power seamless digital transactions and verification experiences, supporting how Canadians pay and authenticate themselves more than 20 million times a day. "D'Arcy brings deep financial services expertise and a strong understanding of the vital role Interac plays in Canada's economy," said Jeremy Wilmot, President and CEO of Interac. "He is uniquely positioned to drive the next phase of our product strategy, bringing clarity, discipline and momentum to our product roadmap as we innovate to meet the evolving needs of consumers and organizations." Leveraging his track record as a forward-thinking Canadian banking executive, Mr. McDonald will guide the next wave of product innovation, while driving the adoption of core services and reinforcing Interac products as critical national payments and digital trust infrastructure. His service on the Interac Board of Directors from 2020 to 2025 provides an informed, enterprise-wide view of the organization's potential as he steps into this role. Mr. McDonald joins Interac from Scotiabank, where he most recently served as Senior Vice President, Ontario Region. Prior to that, he led the Retail Payments, Unsecured Lending, Credit Card, Investment and Deposit portfolios for Scotiabank. Earlier in his career, he held leadership roles at TD Bank focused on Savings & Investing, Cross Border and Digital Channel Integration. "Interac plays a meaningful role in the daily lives of Canadians, enabling millions to transact with confidence," said D'Arcy McDonald, Group Head, Product at Interac. "I am excited to help shape the next generation of Interac products - solutions that earn Canadians' trust, put their needs first and strengthen the digital infrastructure our country depends on." For more than 40 years, Interac has helped Canadians move money and information safely and securely. Mr. McDonald's appointment underscores the company's commitment to empowering Canadians in an evolving digital economy. About Interac Corp. Interac empowers Canadians to transact digitally with confidence by providing payment and value exchange services. In helping to develop the future of money movement in Canada, security is at the core of everything Interac Corp. do. Interac Corp. help keep Canadian customers safe and secure when transacting. With nearly 300 financial institutions connected to its network, Canadians choose Interac products over 20 million times a day on average to exchange money. Interac champions workplace culture, community, and corporate citizenship. Interac Corp. is proud to be one of Canada's leading and most trusted financial brands. For further information: Media contact: Interac Corp., 416-869-2017, [email protected]
Overview of MuchBetter Interact to top up your seamless and secure e-wallet. Sun Mar 01 2026 Enjoy one of the most widely known payment mechanisms in Canada, Interact, to transfer money to your e-wallet with seamless transactions. Move your money safe in the knowledge that your transactions are safe and secure in transit, with the ability to use utilise your funds via any of its multiple payment device options, from a virtual Mastercard(R) to its groundbreaking MuchBetter payment Ring. As a company MuchBetter Group is happy to work with Interact and have them on board to service Canada as they are widely know throughout of Canada as a stable and secure service utilised by millions. Features and Benefits Nationwide Send and receive funds using Interac from Canadian bank accounts. Customers pay directly from their online or mobile banking. Bank-level security with no card details shared. Funds are credited to your wallet or platform in minutes. Support multiple Interac pay-in and payout flows. Interac bridges Canadian bank accounts and digital wallets. How it works 1. Inbound Transfer (Bank | MuchBetter) Send funds to MuchBetter via Interac using your unique reference, and your e-wallet will be credited automatically once received. 2. Interac Requests (Email Transfer) Request a transfer to your registered Interac email, and once approved, your MuchBetter e-wallet will be funded instantly. 3. In-App Transfer Load funds to your MunchBetter e-wallet by completing your Interac payment directly in-app, and your balance will be updated in real time. Interac FAQ - What is Interac? Interac is Canada's leading bank-to-bank payment network, allowing you to send and receive money directly from your bank accounts using email, phone number or online banking authentication. - What can I use Interac for with MuchBetter? Interac can be used for both deposits (pay-ins) and withdrawals (payouts) between Canadian bank accounts and MuchBetter wallets. - Do I need a card to use Interac? No. Interac payments are made directly from your bank account using your existing online or mobile banking credentials. - How do Interac deposits work? Select Interac Deposit, approve the payment via your bank and funds are automatically credited to your MuchBetter wallet or platform balance. - How do Interac withdrawals work? Simply request a withdrawal and a confirmation request is sent via Interac e-Transfer to your registered email address or phone number, where you can accept the transfer into your bank. - Are Interac payments instant? Most Interac payments are processed within minutes, though timing may vary depending on the you rindividual bank. - Is Interac secure? Yes. Payments are completed within the secure Canadian banking network, with built-in authentication and protection monitoring. - Can I see Interac transactions in my MuchBetter app? Yes. All Interac deposits and withdrawals appear in your transaction history. - Are there fees for using Interac? No. MuchBetter does not charge a fee for Interac payments. Bank fees may vary. - Is Interac available outside Canada? No. Interac is designed specifically for Canadian bank accounts and is available nationwide within Canada.
Libro Credit Union partners with Caspian One Open Data and Interac to deploy new Open Data identity verification, positioning libro for future innovations. Libro Credit Union - GlobeNewswire - Thu Dec 11, 5:00AM CST London Ont, Dec. 11, 2025 (GLOBE NEWSWIRE) - LONDON, ON - Libro Credit Union has successfully launched Interac(R) verification service (IVS), part of the Interac Verified(TM) suite of solutions, supported by Caspian One Open Data (Caspian), bringing Owners a secure, digital-first way to verify their identity instantly when signing up for new services or completing transactions. This milestone marks a significant advancement in Libro's digital transformation journey and reinforces its role as a trusted, forward-looking financial partner for individuals and small businesses across southwestern Ontario. Until now, identity verification often meant manual checks, repeated paperwork, or time-consuming in-person visits. The new solution uses Caspian's open data infrastructure and Financial Data Exchange (FDX)-compliant APIs to connect Libro securely to the Interac network, allowing Owners to verify their identity in real time: anywhere, anytime, but only with their explicit consent. Through this collaboration, Libro can now extend the same trust and personal connection that Owners expect in-branch into the digital environment. This trusted ecosystem enables secure data transfer between Libro and verified third parties, protecting Owners' privacy while eliminating friction. This deployment represents a key step toward Libro's vision of providing Owners with seamless, secure access to financial tools and services, whether they're opening a new account, applying for credit, or accessing government or fintech platforms. It also lays the foundation for future innovations in open data, embedded finance, and digital identity solutions designed specifically for credit unions and their Owners. "Our Owners trust us to protect their information and make their financial lives easier, and this launch does both," said Shawn Good, CEO & President at Libro Credit Union. "By connecting through Caspian's open data ecosystem and Interac verification service, we're delivering a faster, more seamless digital experience while maintaining the high level of security and privacy Owners expect. It's another way we're combining innovation with the cooperative values that make Libro different, ensuring we compete on digital convenience, but never at the expense of trust." "We are thrilled to partner with Libro Credit Union, a leader in digital services for their Owners and a dedicated partner for local businesses," said Lewis Poe, CEO of Caspian One Open Data. "Our FDX-compliant, open data ecosystem can support a broad range of future high-value use cases for Libro, beginning with identity verification. It lays the secure foundation for Libro to build future embedded finance services, ensuring they remain a competitive and trusted partner delivering in their members' moments of need." The go-live of Interac verification service through Caspian's open data platform positions Libro at the forefront of digital transformation in the Canadian credit union system. This launch demonstrates how cooperative institutions can lead in secure, standards-based innovation, while preserving the trust and community connection that define credit unions. By integrating trusted verification directly into digital channels, Libro is removing barriers for Owners and small businesses, making it easier to access services, open accounts, and engage with the financial tools they need. It's another example of Libro using technology to deliver on its purpose: strengthening financial well-being for a better tomorrow. About Libro Credit Union At Libro Credit Union, our purpose is to strengthen financial well-being for a better tomorrow. Libro is a full-service financial institution serving more than 120,000 member-Owners through a network of digital services and 34 physical locations. As a trusted financial partner for 82 years, it's our passionate staff and commitment to our communities that set us apart. Libro is a purpose-based business proudly committed to making positive social and environmental impact as a certified B Corporation(R), as an associate member of the Responsible Investment Association, and as a Living Wage employer. If you want to see what makes Libro different, and how your purpose might align with ours then we want to hear from you! Join an inclusive and positive work environment that fosters career growth and advancement and together, we'll shape a better tomorrow. Visit libro.ca/careers. About Caspian One Open Data Caspian One Open Data's next-generation ecosystem removes the barriers to entry that helps credit unions thrive in a digital-first economy. Its 'connect once - deploy to many' model simplifies integration, and enables the secure participation aligned to North American FDX-standards. By connecting credit unions with a growing network of ecosystem partners, the platform supports innovative, co-created services that unlock operational efficiencies, future revenue opportunities, and deeper member value. For more information, visit www.caspian-opendata.com. Media contact: Mike Donachie, Director, Communications, Libro Credit Union C: 226-926-4068, [email protected] or [email protected] Katy Boychuk Libro Credit Union 519-672-0130 x4465 [email protected] This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. 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Interac launches a new payment offering. On Tuesday, Interac announced the launch of a new offering that allows Canadians to pay for their online purchases in various ways, including directly from their bank account. The company specifies that the Konek payment solution is being rolled out gradually, with Bureau en Gros as its first merchant. For now, access is limited to customers of BMO, the National Bank of Canada, the Royal Bank of Canada, Scotiabank, and TD Canada Trust. This option allows consumers to pay by debit or credit card, or directly from checking, savings, or line of credit accounts. Purchases made from a bank account or line of credit are processed by Interac Direct, a new digital payment solution offering reduced merchant fees. Interac indicates that it created this option in collaboration with Canadian financial institutions to offer consumers more choices for their online payments, while reducing the number of abandoned carts. Kris Zanuldin, head of KONEK at Interac, states in a press release that his company provides a national and secure alternative to foreign online payment solutions.