This increased functionality enhances the API set already supporting Interac e-Transfer Request Money for Fintechs and Paytechs.
VANCOUVER, B.C. – August 17, 2021: Peoples Payment Solutions Ltd., part of Peoples Group, continues to bring increased capabilities to the payments realm, with the announcement of the new Interac e-Transfer® for Business, and its participation in the market launch. This enhanced Interac e-Transfer feature enables real-time digital payments for commercial transactions. Focused on providing digital money movement to businesses, Peoples has added API access for Interac Auto-deposit and Interac Send e-Transfers, both in its classic form and via the newly launched Interac e-Transfer for Business service. These services complement the API toolkit that already supports Request Money and will enable Fintechs and Paytechs to increase their financial service offerings to Canadians.
The suite of Interac e-Transfer for Business features virtually eliminates delay in moving money digitally, provides immediate receipt confirmation to the sender, and accommodates the inclusion of additional payment information (such as invoice details). Real-time transfers are initiated using a recipient’s bank account number (generally available in a business client relationship), and funds are received within seconds. The addition of account number routing to Peoples Payments’ product line provides more options for clients to move money digitally. These can be related to speed, data requirements and the amount of information needed to initiate Interac e-Transfer transactions. Fintechs and Paytechs can now access these additional options via API as they continue to innovate their financial services offerings to Canadian consumers and businesses.
“We’re excited to be a leader in bringing this latest new payment option to market and continuing in our promise to facilitate innovation of money movement,” said Howard Klein, President of Peoples Payments and Cards, part of Peoples Group.
About Peoples Group
Peoples Group has been providing tailored financial services to the Canadian marketplace for more than 35 years. Since 1985 our focus has been on exceptional customer service, solidly rooted in extensive product knowledge and experience. In the world of Canadian payments, Peoples Trust Company, part of Peoples Group, is a leading issuer of prepaid payment cards and an innovative merchant acquirer. We are an entrepreneurial organization that excels at customizing solutions to fit the needs of our clients. As a result, we have been recognized as a pioneer and innovator of prepaid cards in Canada, and an early adopter of payment solutions. We have partnered with many of Canada’s FinTechs, giving them the tools and guidance to help realize their success. For more information, please visit peoplesgroup.com.
Interac e-Transfer is a registered trademark of Interac Corp. Used under licence.
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