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Canada's Interac buys digital ID outfit 2Keys

Canada's Interac buys digital ID outfit 2Keys

Canadian debit network Interac has acquired Ottawa-based 2Keys to strengthen its position in the digital identity market. Financial terms of the deal were not disclosed.

The acquisition will see 2Keys and its approximately 100 employees join Interac as the payments specialist looks expand its remit and and secure a place in the future of digital ID and commerce by empowering Canadians to securely access and use their identity, data and money.

Founded more than 20 years ago, 2Keys provides digital identity and access technology used by governments, financial institutions and commercial clients. It currently supports over 40 million users performing four million identity verifications per day.

Mark O’Connell, CEO, Interac, says: “Acquiring the deep expertise of 2Keys gives Interac capabilities it can bring to the marketplace to support the development of digital ID solutions for Canadians’ increasingly digital lives.”

Comments: (3)

Philip Andreae
Philip Andreae - PA&A - Atlanta 05 November, 2019, 15:24Be the first to give this comment the thumbs up 0 likes

What now happens to Secure Key?

Jared Hodgson
Jared Hodgson - Coinsquare - Toronto 05 November, 2019, 17:21Be the first to give this comment the thumbs up 0 likes

Secure Key and Two keys are two seperate companies.This could enhance the competition for Secure Key though as the Digital Identity space is a critical ecosystem and is only in its infancy.

Philip Andreae
Philip Andreae - PA&A - Atlanta 05 November, 2019, 20:56Be the first to give this comment the thumbs up 0 likes

the existence of competition is always a good thing.  This begs a question.  The banks own Interac and interac owns 2Keys.  The banks are both anchors to the Secure Key solution as well as consumers of the truth in identity Secure Key provides.  I leave the question to the imagination.

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