Payment Rails
Electronic Funds Transfer (EFT)
Seamlessly facilitate Electronic Funds Transfer (EFT) payment processing by connecting to Canada’s coast-to-coast banking system. Our EFT features enable businesses to send and receive recurring payments to and from customer accounts seamlessly, regardless of transaction size.
Have customers agree to a pre-authorized debit (PAD), connect to their bank account & move funds in a single step
Leverage our embedded bank connection tool to validate end users, confirm their banking information, and ensure the account does not contain insufficient funds before the electronic funds transfer.
- Retrieve usernames, phone numbers, addresses, and email addresses
- Retrieve the end user's bank account and direct deposit information
- Ensure funds exist prior to debiting an account (ongoing balance checks available)
Key Benefits of Interac Payments:
With generally lower fees than traditional payment methods like paper checks or wire transfers, EFT payments help reduce transaction costs, making them a financially smart option.
EFT transactions are encrypted and processed through secure networks, minimizing the risk of fraud and unauthorized access, providing peace of mind for both businesses and consumers.
EFT payments can be made from anywhere with internet access, eliminating the need to visit a bank in person. This convenience extends to scheduling automated, recurring payments for regular expenses like utilities, rent, and salaries.
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+1 438 802 1314