Payza, a leading global payment platform, is pleased to announce their integration with Interac, Canada's interbank network for transferring funds electronically.
Canadians can now add funds to their Payza accounts directly through their online bank account via the "Add Funds by Interac® Online" option within their accounts. Additionally, Payza Businesses worldwide can directly accept Interac® Online payments from Canadian members.
Payza members can load their accounts by transferring money from their Canadian bank accounts to their online Payza accounts for a flat rate of $1.50 CAD per transaction, up to $500 CAD. Payza merchants can accept payments from Canadian consumers via Interac® Online for fees starting at 2.5% + $0.79.
"Canadians love their debit cards and use Interac®, the debit system powering Canada, 16 million times a day on average to shop online and in stores, and to send money electronically to friends and family," explains Firoz Patel, Payza's global executive vice president. "By providing our Canadian members with a service they know and love to easily fund to their Payza accounts, we are proving our commitment to delivering preferred local payment options to our global customer base, one market at a time.
"We are also giving our business members, both inside and outside of Canada, a new way to attract and retain Canadian consumers by removing some of the friction in the purchase process," continues Patel. "Although Canada is a relatively small market, with Canadians predicted to spend $39 billion online by 2019, cross-border dominates the industry as 7 purchases out of 10 are made to international ecommerce merchants. Making that international purchase a little bit easier on the Canadian consumer and more affordable for the merchant just makes sense, and we're proud that Payza can provide that solution."