TORONTO, Jan. 28, 2013 /CNW/ - Interac Association announced today that
Manitoba's Sunova Credit Union is now issuing Interac Flash enabled debit cards to their members, making Sunova the first
credit union nationwide to offer Canada's first and only contactless
debit payment solution.
With Interac Flash, debit users can make small value purchases faster than ever
before. Instead of inserting their chip card and entering their PIN,
cardholders can hold their Interac chip debit card in front of a supporting point-of-sale reader to make
quick and secure contactless transactions. By spending less time
processing payments, particularly cash, merchants can help improve
throughput at the point-of-sale, as well as the overall customer
"The Canadian credit union system continuously strives to provide their
members with innovative, high value payment solutions that best meet
their financial needs," said Mark O'Connell, president and CEO, Interac
Association and Acxsys Corporation. "We're delighted Sunova Credit
Union sees the value of contactless debit and we're proud to announce
them as the first credit union in Canada to offer Interac Flash to their members."
Sunova Credit Union is a full-service financial institution with 11
branches and nearly 28,000 members throughout Manitoba.
"Offering leading edge technology is extremely important to Sunova,"
said Dallas Kostna, vice president and CIO of Sunova Credit Union. "By
being the first credit union in Canada to offer Interac Flash enabled debit cards, our members can take advantage of this
innovative technology to make quick and secure contactless Interac Debit transactions using funds withdrawn from their own accounts."
Starting today, Sunova members will be able to receive their fully
personalized Interac Flash debit card upon request. In-branch card issuance will be managed
by Everlink Payment Services Inc.
"A growing number of Canadian retailers are accepting Interac Flash contactless debit payment technology and it's fitting that a
Canadian credit union sees the value in offering this technology to its
members," added David Phillips, president and CEO, Credit Union Central
About Interac Flash
Interac Flash, an enhancement of Interac Debit, gives cardholders the choice to pay for smaller value items
faster than ever before by simply holding their card at a contactless
point-of-sale reader that supports Interac Flash.
Interac Flash offers strong consumer protections and unique security features,
which help protect cardholders from fraud tactics and "electronic
pick-pocketing". It builds on the security of global EMVTM standards, the existing chip debit infrastructure and leverages the
trusted Interac brand. Cardholders are protected from unauthorized transactions under
the Interac Zero Liability Policy* and merchants continue to receive the benefits
of secure and non-refutable transactions associated with PIN-based Interac Debit.
Canadians can use their Interac Flash cards at an increasing number of merchants across Canada. To find
an accepting merchant, visit: http://www.interac.ca/index.php/en/flash-locator.
About Interac Association
A recognized world leader in debit card services, Interac Association is
responsible for the development and operations of the Interac network, a national payment network that allows Canadians to access
their money through Interac Cash at 60,000 Automated Banking Machines and Interac Debit at 766,000 point-of-sale terminals across Canada. Interac Flash, a secure contactless enhancement of Interac Debit allows Canadians to pay for items instantly with their Interac chip debit card at a reader that supports Interac Flash.
Interac Association was founded in 1984 and is comprised of a diverse
membership that includes banks, trust companies, credit unions, caisses
populaires, merchants, and technology and payment related companies.
Other related services offered by Acxsys Corporation, whose shareholders
are the architects of the Interac network, include: Interac Online, for secure online payments made directly from a bank account; Interac e-TransferTM, for the transfer of money from one person's bank account to another
person's bank account using an email address or mobile phone number**;
and international services, which provide Canadian cardholders with
point-of-sale access at nearly 2 million U.S. retailers, and PULSE,
Discover, Diners Club International and UnionPay cardholders access to
ABMs in Canada.
About Credit Union Central of Canada (Canadian Central)
Credit Union Central of Canada is the national trade association for the
Canadian credit union system. Canada's credit union system is a vital
competitor in the financial services industry. Canadian Central
represents five provincial/regional Centrals and one Federation
representing 357 credit unions with more than $149.7 billion in assets
and serving over 5.3 million members, outside of Quebec. For more
information about Canada's credit union system and Canadian Central
About Sunova Credit Union
Incorporated in 1955 (then known as South Interlake Credit Union) Sunova
has 11 branches and over 28,000 members throughout Winnipeg and rural
Manitoba. Sunova is a vibrant, innovative and friendly full-service
financial institution dedicated to providing outstanding service and
developing life-long relationships built on mutual trust, financial
expertise and a genuine desire to help members achieve their financial
Interac, Interac Flash and Interac e-Transfer are trade-marks of Interac Inc. Used under license.
* All Interac cardholders are protected from losses resulting from circumstances
beyond their control under the Interac Zero Liability Policy. See your financial institution for details.
**The Interac e-Transfer service, for secure person-to-person payments, is currently
available to customers of over 90 banks and credit unions including BMO
Bank of Montreal, CIBC, President's Choice Financial, National Bank,
RBC Royal Bank, Scotiabank and TD Canada Trust among others. Central 1,
through participating credit unions, offers the option of using mobile
phone numbers, in addition to email, to notify Interac e-Transfer recipients. Money never travels by email or text message.
More information about the Interac e-Transfer service and a complete list of participating banks and
credit unions can be found at www.interac.ca.
SOURCE: Interac Association
For further information:
Interac Association / Acxsys Corporation