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Interac

/ ˈɪԳəˌæ /

noun

  1. a system of electronic bank payments or withdrawals

“Collins English Dictionary — Complete & Unabridged” 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012


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Example Sentences

Examples have not been reviewed.

Canadian online payments service Interac said on Monday it was adding another network provider to its system after an outage at Rogers Communications last week left millions of Canadians locked out of online payments.

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Interac said its services are fully available again after debit transactions were halted by the Rogers network outage.

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The company powers a large number of debit cards, ATMs, and electronic fund transfers throughout Canada, a service Interac recently announced reached over one billion transactions.

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Interac says it plans on “adding a supplier” to strengthen its “existing network redundancy” to help prevent its services from going offline in case of another outage.

From

Interac, which operates an email money transfer service used by several Canadian banks, said the outage was affecting its services.

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interinteracinous