Interac

/ ˈɪntərˌæk /

noun

1. a system of electronic bank payments or withdrawals

Example Sentences

Canadian online payments service Interac said on Monday it was adding another network provider to its system after an outage at Rogers Communications last week left millions of Canadians locked out of online payments.

Read more on Reuters

Interac said its services are fully available again after debit transactions were halted by the Rogers network outage.

Read more on Seattle Times

The company powers a large number of debit cards, ATMs, and electronic fund transfers throughout Canada, a service Interac recently announced reached over one billion transactions.

Read more on The Verge

Interac says it plans on “adding a supplier” to strengthen its “existing network redundancy” to help prevent its services from going offline in case of another outage.

Read more on The Verge

Interac, which operates an email money transfer service used by several Canadian banks, said the outage was affecting its services.

Read more on Reuters