University of British Columbia Becomes the First Canadian University to Offer INTERAC Online for Tuition Payments



    TORONTO, Aug. 27 /CNW/ - Just in time for the back-to-school season, the
architects of INTERAC Direct Payment, today announced that the University of
British Columbia (UBC) is the first Canadian university to offer INTERAC
Online for the payment of tuition fees. Now, UBC students can pay their
tuition fees directly from their bank account via the UBC website.
    "INTERAC Online continues to enable more and more Canadians to make
secure payments directly from their bank account online as the number of
institutions and merchants offering the service increases," said Mark
O'Connell, President and CEO, Acxsys Corporation. "Students are a natural fit
for the INTERAC Online service and as such, the addition of the University of
British Columbia marks another strategic step forward in the roll-out of this
exciting service."
    INTERAC Online is a payment option that allows online shoppers to pay for
goods and services on the Internet directly from their bank account. INTERAC
Online is secure and easy-to-use because it is integrated with the existing
and trusted online banking services of Canada's leading financial
institutions. This convenient INTERAC service makes online shopping accessible
to millions of Canadians - those without credit cards or those who choose not
to use credit cards.
    "INTERAC Online offers UBC students a convenient option for paying their
share of the cost of university education," said Brian Silzer, Associate Vice
President Enrolment Services and Registrar of the University of British
Columbia.

    Why INTERAC Online
    -------------------
    INTERAC Online is integrated with the consumer's existing online bank
account so it is secure and easy-to-use. The payment service is secure because
the transaction is actually conducted within the consumer's trusted online
bank account, so no personal financial information is ever shared with
merchants. The service is easy-to-use because the consumer doesn't have to
memorize any new passwords and the purchase is paid directly from the
consumer's bank account.

    How INTERAC Online Works
    -------------------------
    Consumers who are registered for online banking services with a
participating financial institution can use the INTERAC Online service in just
a few easy steps.

    
      - When checking out on a merchant's e-commerce website, select the
        INTERAC Online payment option;

      - Select the desired financial institution from the list that appears
        (consumer is automatically redirected to the financial institution's
        web banking site);

      - Log onto your trusted web banking site using existing login ID and
        password;

      - Select your account to process payment;

      - Confirm the payment (consumer is automatically redirected back to
        merchant's website);

      - Print confirmation page for future reference and proof of purchase.
    

    For an INTERAC Online service demonstration and a list of financial
institutions and merchants currently offering the service, please visit
www.interaconline.com.

    About Acxsys Corporation

    Acxsys Corporation, comprised of eight large financial institutions as
shareholders, is headquartered in Toronto, Ontario. Acxsys specializes in the
development and operation of new payment service opportunities as well as
consulting and management services in the field of electronic payments. The
Corporation's shareholders are the architects of Canada's national network for
shared electronic financial services: Interac Direct Payment, Canada's
national debit card service and Interac Shared Cash Dispensing Service for
cash withdrawals at Automated Banking Machines. For more information, please
visit www.acxsys.ca.





For further information:

For further information: or to schedule an interview: Tina Romano,
Interac Association, Acxsys Corporation, (416) 869-5062, tromano@interac.org;
Lizanne McReelis, Strategic Objectives, (416) 366-7735 ext. 237,
lmcreelis@strategicobjectives.com; Catherine Héroux, Strategic Objectives,
(416) 366-7735 ext. 222, cheroux@strategicobjectives.com; Scott Macrae,
University of British Columbia, (604) 822-2064, scott.macrae@ubc.ca

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ACXSYS CORPORATION

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