Canada Loves its INTERAC Debit Cards
Garth Buchholz writes for InformIT.com on Canada's INTERAC PIN-based debit card system.
Point-of-sale debit card transactions have been offered across the country only since 1994, but in just over 10 years, INTERAC Direct Payments (IDPs) have become Canada's national debit card service. Debit cards have now surpassed cash as Canadians' preferred method of payment, especially for payments between $25.00 and $100.00. In 2004, a record 2.7 billion point-of-sale transactions were made using IDPs at almost 400,000 merchants.
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