Canadian credit unions launch Interac Debit on Google Pay
A group of seven Canadian credit unions have launched the Interac Debit payment system on Google Pay, enabling customers to pay using their Android phones.
Interac Debit, a payment system which links cards to both checking and savings accounts, has been used by Canadians for more than 20 years.
The solution is the preferred payment method, accounting for 56% of all card transactions in Canada.
Now members of seven credit unions can make purchases from their accounts using the Interac Flash system, which enables NFC-based payments via mobile phones or NFC-enabled devices.
Related: Google sets its sights on banking
“The Canadian credit union sector is continually working together and with partners to offer payment options that members want,” said Martha Durdin, president and CEO of the Canadian Credit Union Association (CCUA), which announced the news.
“Whether it’s for the member who is driven by convenience, or is a tech enthusiast, Google Pay is a mobile payment option that allows all members to pay with the speed and security that they expect.”
CCUA partnered with Interac and Everlink Payment Services to extend support for Interac Debit on Google Pay.
The seven credit unions launching the new service are:
- Access Credit Union
- Affinity Credit Union
- Assiniboine Credit Union
- Innovation Credit Union
- Prospera Credit Union
- Servus Credit Union
- Steinbach Credit Union
Another institution, Cambrian Credit Union, is expected to go live with the solution in December.