Canada's INTERAC Partners with INSIDE for Contactless Debit Cards

“We have sought out and are leveraging the best technology expertise available globally,” said Mark O’Connell, President and CEO, Interac Association. “By partnering with INSIDE, we will be able to incorporate fundamental policies, strong consumer protections, which is a vital tenet for the Canadian market, and key features, all of which are unique to INTERAC.”

Interac Association selected INSIDE for its expertise in contactless payments and the leadership position they have on a global basis.

“The small-ticket purchase segment in Canada, which is still dominated by cash and coin, represents green field territory for card payments, and although this market has been targeted time and again, it has been difficult to penetrate due to the lack of the right technology solution delivered at the right cost” said Shyam Krishnan, Industry Analyst at Frost & Sullivan. “The partnership between Interac Association and INSIDE Contactless goes a long way towards creating a viable solution, providing the technology and value proposition necessary to break the barriers to this market.”

“INTERAC is the leading national debit system in the world, and we are pleased to be working with them and demonstrating the benefits of a strategy that partners two leading-edge organizations,” said Remy de Tonnac, CEO, INSIDE Contactless. “The INSIDE-INTERAC partnership will put a better and uniquely Canadian product in the hands of Canadian consumers, and bring a strong value proposition to the market.”