INTERAC has announced that it is marking "25 years of providing Canadians secure access to their money from coast to coast to coast. On November 9, 1984, a single national PIN-based network was born out of a vision to connect Canadians to their money anywhere, anytime. INTERAC's growth and evolution took off from that point and today, both consumer awareness and usage levels are almost unmatched worldwide." READ MORE

In an article titled "Credit card giants create debit havoc", Dana Flavelle and Rita Trichur write for the Toronto Star about small merchant reactions to the introduction of Visa and MasterCard debit products into Canada.

INTERAC, Canada’s national debit network, and China Unionpay, China’s national bank card payment network, have announced the launch of a new service that will give China Unionpay cardholders traveling in Canada the ability to withdraw cash from ATMs of participating acquirers in Canada. READ MORE

Canada's Interac Association has announced a partnership with INSIDE Contactless, the world leader in open-standard contactless chip technologies to develop chips containing the specifications for INTERAC’s contactless payment service. According to the companies, this partnership will enable Interac Association and its members to offer their debit card users a “next generation” retail payments solution. READ MORE

In an article titled "Credit card companies should stay out of the debit card market", Craig McInnes writes for the Vancouver Sun about the costs to merchants of payment card acceptance. He discusses both the costs of rewards cards to merchants as well as a concern that replacing Interac debit cards would also increase costs to merchants. According to McInnes, "that would drive up the price of everything we buy."

In an article titled "Interac seeks shift to for-profit status", Tara Perkins reports for the Globe and Mail that the company is in discussions "with the Competition Bureau about a restructuring that would likely allow it to make a profit." Interac, under a 1996 agreement with the Competition Bureau, is currently run as a not-for-profit company.

Members of the payment card industry in Canada - Interac Association, MasterCard Canada, Visa Canada and many of their respective card issuers and payment processors - have reported positive preliminary results from an industry trial of chip technology in Kitchener-Waterloo, Ontario. READ MORE

In an article titled 'Soaring rates of debit fraud prompt switch to smart cards' in today's Globe and Mail, Timothy Appleby writes about fraud on Interac debit cards and the planned migration to chip cards in Canada.

Last week Canada's Interac Association announced "the completion of Canada's first INTERAC debit card transaction at the point-of-sale terminal using chip technology. The transaction was processed today by TD Merchant Services using a BMO Bank of Montreal chip debit card at Mercato Giovanni's Fresh Food located in downtown Toronto. The chip debit card transaction was conducted in preparation for the Kitchener-Waterloo, Ontario market trial of chip technology which will begin in fall 2007."

The Interac Association and Acxsys Corporation have announced the appointment of Mark P. O'Connell as President and CEO, effective February 7, 2007, saying he will focus on innovation in payment services and advancing Acxsys Corporation's and Interac Association's leadership in the industry. Most recently he was Executive Vice President, Finance Market at Emergis Inc., and for the past two years, he was Emergis Inc.'s appointee to the Interac Association Board of Directors.

The Interac Association has announced that debit card fraud at gas stations across Canada has declined by more than 60 per cent over the past year. According to Interac, "the deep decline, representing about $15 million in avoided fraud losses, was largely the result of Project Protect, a joint education initiative spearheaded by Interac Association and law enforcement with support from Payment Card Partners and other industry partners."

Members of the Canadian payment card industry -- Interac Association, MasterCard Canada Inc., Visa Canada Association, and many of their respective card issuers and processors -- have announced their commitment to conduct a chip technology trial in Kitchener-Waterloo, Ontario. The trial will allow participants to test the infrastructure and ensure interoperability of systems and devices in a controlled manner prior to each participant's national roll-out plan.

Glenbrook's Carol Coye Benson files this report: I spoke on Friday with Barry Campbell, Director of Business Development for Acxsys Corporation and Interac Online, Canada's "credit push" online payment system.

According to a survey commissioned by the Canadian Interac Association, and conducted by The Strategic Counsel, 92 per cent of Canadians recognize the importance of shielding their PIN at a bank machine or a debit card terminal. However, 60 per cent do not always shield their PIN if they believe nobody can see them entering it, and 37 per cent do not always shield their PIN even if they believe somebody can see them entering it.

Members of the Canadian payment card industry -- Interac Association, MasterCard Canada Inc., Visa Canada Association, and many of their respective card issuers and acquirers -- have announced a firm commitment to a broad industry migration to chip technology beginning with deployments next year and migration completion scheduled for 2010.

D.L. McCracken reports for HalifaxLive.com on the surprising lack of interest among Canadian online merchants in supporting the Interac Online debit payment service.

According to McCracken, "apparently most online merchants have decided that adding a debit payment option is just not high on their list of priorities." The service announced that its first transaction was processed in June.

Garth Buchholz writes for InformIT.com on Canada's INTERAC PIN-based debit card system.

Moneris Solutions has announced that it has processed the first Interac Online transaction in Canada. Interac Online is a new service that allows Canadians to pay for goods and services purchased on the Internet directly from their bank account.