Interac sign-in service to surpass 100 million transactions in 2022 as Canadians seek secure, convenient ways to authenticate themselves online

Interac sign-in service is the new name for Government Sign-In by Verified.Me

TORONTO, Oct. 26, 2022 /CNW/ - Interac Corp., one of Canada's most trusted financial brands, announced today its Interac sign-in service is on track to surpass 100 million transactions in 2022 as Canadians seek secure and convenient ways to authenticate themselves online. Interac sign-in service is the new name for Government Sign-In by Verified.Me, and follows a 2021 announcement where Interac acquired the exclusive Canadian rights for the service. Currently, Interac sign-in service is used by Canadians for online access to over 280 federal and provincial government services.

"As the digital transformation of our lives accelerates, Canadians are increasingly exchanging personal information, from financial data to their personal credentials with regularity," said Debbie Gamble, Chief Officer, Innovation Labs & New Ventures at Interac. "With Interac sign-in service, we are simplifying how Canadians access a wide range of government services while prioritizing privacy by putting users squarely in control of their personal information, including who can access it and when."

In a 2022 survey, Interac found that over 60 per cent of Canadians surveyed want to access most or all government services online, but many (44 per cent) said that verification measures can be confusing. Interac sign-in service helps simplify this process by allowing users to leverage their existing online financial institution credentials to access government services, rather than creating a new username and password. Four in 10 Canadians surveyed also said that privacy is a concern when accessing government services online. When using Interac sign-in service, no personal information is shared and no party in the service – financial institution, government service or network operator – can trace the user's steps through the system.

"For four decades, Interac has been a trusted partner in verification – beginning with verifying Canadians with a secure PIN to access their bank accounts," said Neil Butters, VP of Product at Interac. "Interac sign-in service is part of the next evolution for Interac, as we aim to give Canadians the choice to access government services and conduct business online."

In the coming months, Interac will make further announcements regarding its verification solutions focused on unlocking the potential of the Canadian digital economy and providing services tailormade for the digital transformation needs of both businesses and governments.

About the Survey

Interac commissioned Hill+Knowlton Strategies to conduct a national online survey of 1,700 adult residents of Canada in February 2022. The sample was randomly drawn from a panel of potential survey respondents (Leger Opinion). Post-stratification weights were applied to the sample based on 2016 census population parameters to ensure representation by province of Canada, age, and gender. An associated margin of error for a probability-based sample of this size would be ±3 per cent, 19 times out of 20.

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, data, and verification in Canada, security is the core of everything we do. Through our privacy, fraud mitigation, governance, and verification and authentication services, 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 and corporate citizenship based on the principles of responsibility, diversity and inclusion. We are proud to be one of Canada's leading and most trusted financial brands. For more information, visit our website.

SOURCE Interac Corp.

Interac Corp., 416-869-2017, [email protected]