Interac
Interac Association is a Canadian organization linking enterprises that have proprietary networks so that they may communicate with each other for the purpose of exchanging electronic financial transactions. The Association was founded in 1984 by five financial institutions. As of May, 2003 there are over 110 member organizations and membership continues to expand.
Services
Interac Association is the organization responsible for the development of a national network of two shared electronic financial services:
- Shared Cash Dispensing (SCD): cash withdrawals from any ABM not belonging to a cardholder's financial institution
- Interac Direct Payment (IDP): Canada's national debit service
