Enables the future development of multi-media
Interac e-Transfer notifications that can be customized by
Canadians
TORONTO, April 16,
2024 /CNW/ - Interac Corp. (Interac) today
announced it has entered into a strategic transaction to acquire
the exclusive Canadian rights to use Toronto-based Vouchr Ltd. (Vouchr)'s
engagement platform which enables users to send and receive
personalized multi-media notifications along with their money
transfers.
With this strategic transaction, Interac intends to leverage the
Vouchr platform to enable personalized notifications, rewards and
merchant offerings for its product suite. Initially rolling out
with Interac e-Transfer®, once integrated, Interac intends to offer
customizable and engaging notifications that Canadians can use to
create comprehensive e-gifting experiences.
"As Canadians show increased preference for digital-first
experiences, this transaction will allow us to boost engagement on
the platform while making transactions a more personalized
extension of daily life," says Anurag
Kar, Head of Product, Interac e-Transfer. "Interac
e-Transfer users will be able to receive customized notifications,
and send meaningful messages that feature eCards, videos and GIFs
embedded within the notification."
Another feature, once implemented, will enable businesses in
Canada to deliver company branded
Interac e-Transfer notifications to employees, customers and
suppliers. Payments to, from or between businesses in Canada now account for approximately 23 per
cent of all Interac e-Transfer transactions, while overall usage of
the service has climbed about 12 per cent over the last year to
reach a record 1.2 billion transactions.
"This deal establishes a new chapter in Canadian money movement
by integrating our engagement platform into Interac services," says
Suresh Bhat, co-founder of Vouchr.
"Additionally, it brings credibility and momentum, demonstrating
the value our technology brings to other markets."
Rob Balahura, co-founder of
Vouchr adds, "together we're redefining the way Canadians can
engage with money transfers and look forward to making every
Interac e-Transfer transaction an opportunity for a more
personalized, meaningful, and enjoyable experience."
This transaction comes as Interac has been in business for 40
years and has continued to invest in the Canadian fintech
ecosystem, and as it works to create a more accessible and secure
digital economy for all Canadians. It follows Interac's acquisition
of 2Keys Corporation in 2019 and its acquisition of the exclusive
Canadian rights to SecureKey's digital verification services in
2021.
About Interac
Corp.
Interac empowers Canadians to transact digitally with confidence
by providing payment and value exchange services. In helping to
develop the future of money and data in Canada, security is the core of everything we
do. We help keep Canadian customers safe and secure when
transacting. With nearly 300 financial institutions connected to
our network, Canadians choose Interac products over 20 million
times a day on average to exchange money. Interac champions
workplace culture, community, and corporate citizenship. We are
proud to be one of Canada's leading and most trusted
financial brands.
For more information, visit In The Know.
About Vouchr Ltd.
Based in Toronto, Vouchr
provides an engagement platform that elevates the money transfer
experience, transforming everyday transactions into unique gifting
moments. With Vouchr, consumers and businesses can infuse their
money transfers and rewards with a personal touch, making every
exchange meaningful and enjoyable. Vouchr is committed to driving
innovation to meet the evolving needs of their clientele and serves
a diverse customer base, including remittance and domestic money
transfer companies, gift card marketplaces, and ecommerce
retailers.
Visit their website at https://www.vouchrtech.com/
SOURCE Interac Corp.