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What is pos debit

what is pos debit

Interac Debit is the leading payment choice, particularly for small purchases 

When Canadian consumers reach for a payment card in their wallets, 56 per cent* of the time they choose Interac Debit.  That’s compared against all credit card brands combined.

Consumers across the country have made Interac Canada’s leading payment brand and a home-grown success story and part of our lives for nearly 20 years.  From the quick grocery store stops on the way home from work to filling up the gas tank on the way to the local hockey rink and a quick coffee run on route,  Interac Debit helps you make those everyday purchases securely, with ease and confidence, using your own money straight from your bank account.  Now, we’re even making it faster and more convenient with Interac Flash. the contactless enhancement of Interac Debit.

You can use Interac Debit at over 400 thousand merchant locations across Canada; from convenience stores to specialty clothing shops to gas stations and coffee shops. Check out the merchant locator for a growing list of Interac Flash acceptance points.

*The Nilson Report March 2012

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What does using Interac Debit mean to you?

Interac Debit and Interac Flash help you  take control of your finances and

can help you avoid overspending. It’s like using cash, only more secure, as the money is exchanged electronically between your bank and the merchant.

If you would like a little more proof about our commitment to security, just look at how successful we’ve been in tackling Interac debit card fraud  - it’s plummeted by 70 per cent in the last two years to the lowest point since first recorded.  And, we’re not done yet.

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How does choosing Interac  Debit benefit merchants in communities across the country?

Interac Debit is one of the lowest cost payment acceptance methods for Canadian merchants.  At pennies per transaction regardless of the size of your bill, you can help out your local merchants when you pay with Interac Debit.  Credit cards can result in higher costs as many have multiple fees and are percentage based, from 1.5 per cent to 5 per cent, of the total amount you are spending. It adds up and hits merchants’ bottom line, particularly small independent merchants, where every penny counts.

For example, if you make a purchase for $20 and tell the merchant you want an additional $40 cash back, you receive your $20 purchase alone with the $40 in cash, for a total transaction amount of $60.

Category: Bank

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