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Interac Online

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The INTERAC® Online Payment, often referred to as IOP, is a method that offers cardholders the ability to pay online using their online banking.

INTERAC® Online Payment is an alternative payment mechanism supported by a number of Canadian Banks however is not ubiquitous at this time. That being said, the participating banks do represent a significant share of the Canadian debit card market and given the propensity for Canadian consumers to prefer debit as a means of payment, IOP should not be overlooked as a means of payment acceptance online.

For a list of participating banks please refer to the Interac list of Participating Financial Institutions.

A typical IOP transaction is similar to a fully authenticated credit card transaction. The transaction has a separate cardholder authentication and acceptance leg that is then followed by financial leg. This is very similar to a generic credit authorization request but due to the fact that explicit cardholder acceptance of any transaction is required and that the funds may or may not be available in the cardholders account at a future date, IOP should not be considered as a valid payment method for recurring payments.

The cardholders first guarantee the fund for the purchase amount using their online banking process. The merchant then confirms the payment by sending an INTERAC Online purchase request to Moneris Solutions using the API.

INTERAC® Online Payment transactions are available to Canadian integrations only.