Interac named Most Innovative Organization by ACT Canada

Award recognizes the organization's leadership in digital payment security and user experience

TORONTO, Oct. 26, 2016 /CNW/ - Interac Association/Acxsys Corporation ("Interac") was recently named "Most Innovative Organization" for its leadership in digital payments by ACT Canada at its annual IVIE awards.

Held in Toronto, the IVIE Awards celebrate innovation in payments and digital identity products, and recognize the value that emerging technologies bring to the market and consumers.

"We are proud to be recognized for the innovation, expertise and the positive impact our secure payment solutions have had on consumers, financial institutions, acquirers and merchants," said Mark O'Connell, President and CEO, Interac Association and Acxsys Corporation. "These awards are a testament to the commitment and passion of our employees who are helping to shape the future of digital payments in Canada."

Interac was also presented with Canadian Payment Innovation Awards for the following: Award Winner (benefiting Issuers or Acquirers) for the Interac Token Service Provider (TSP); Bronze Award (benefiting Issuers or Acquirers) for Interac Debit with Apple Pay; and Honourable Mention (benefiting Consumers) for Interac Debit with Apple Pay.

"Payment innovation demands a careful balance of invention and security. To be named as the Most Innovative Organization for 2016 is an accolade to everyone at Interac," said Catherine Johnston, CEO of ACT Canada.

Interac is at the forefront of Canada's digital transformation, bringing innovative debit solutions to market that address the needs of its stakeholders who demand superior user experiences and world-class security. Over the past year, the organization has launched the following solutions:

  • Interac TSP, a proprietary token management platform which is among the first for a domestic debit network globally, allows financial institutions, merchants and partners to build and manage secure digital payment experiences.

  • Interac Debit with Apple Pay, which allows consumers who bank at the six largest financial institutions in Canada to pay securely and conveniently with Interac using their Apple devices.

  • Interac e-Transfer bulk disbursement service, a commercial enhancement of Interac e-Transfer.

  • Mobile Pay, leveraging Interac Flash, launched by the Canadian Credit Union Association

  • International licensing capabilities of Interac contactless and mobile debit solutions

The IVIE Awards are held annually by ACT Canada, an internationally-recognized authority in payments, authentication and identity management. It is the key ambassador for new payment and secure identification technology in Canada – the crucial foundation for building and maintaining consumer trust in online commerce.

About Interac Association and Acxsys Corporation

Together, Interac Association and Acxsys Corporation operate an economical, world-class debit payments system with broad-based acceptance, 24/7/365 reliability, security, and efficiency. The organization is Canada's leading payments brand and is chosen an average of 16 million times daily to pay and exchange money. For more than 30 years, it has facilitated secure financial transactions through the development of innovative and convenient digital debit and money transfer solutions. A leader in the prevention and detection of fraud, the organization has one of the lowest rates of fraud globally. Visit Interac.ca or follow us @Interac.

SOURCE Interac Association

For further information: Contact (media inquiries only): Media Inquiries: Interac Association/Acxsys Corporation, (416) 869-7171, media@interac.ca

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http://www.interac.ca

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