Interac will acquire the exclusive Canadian rights to use the Vouchr platform in Toronto

Enables future development of multimedia Interac e-Transfer announcements that Canadians can customize.

TORONTO, April 16, 2024 /CNW/ – Interac Corp. (Interac) announced today that it has entered into a strategic transaction to acquire the exclusive Canadian usage rights. Toronto– based on Vouchr Ltd. (Vouchr) is an engagement platform that allows users to send and receive personalized multimedia notifications along with money transfers.

Through this strategic transaction, Interac intends to use the Vouchr platform to enable personalized advertising, rewards and merchant offers for its product suite. Originally launched with Interac e-Transfer®, Interac aims to provide customizable and engaging notifications that Canadians can use to create an immersive electronic gift giving experience.

“As Canadians increasingly prefer a digital experience, this transaction allows us to increase engagement on the platform, making transactions a more personalized extension of everyday life,” said the statement. Anurag Kar, Head of Product, Interac e-Transfer. “Interac e-Transfer users can receive customized notifications and send meaningful messages with eCards, videos and GIFs embedded in the notification.”

Another feature enables the business once launched Canada deliver company Interac e-Transfer branded announcements to employees, customers and suppliers. Payments to, from or between businesses Canada it now accounts for about 23 percent of all Interac e-Transfer transactions, and overall use of the service grew nearly 12 percent last year to a record 1.2 billion transactions.

“This deal opens a new chapter in Canadian cash flow by integrating our engagement platform with Interac's services,” it said. Suresh Bhatt, founder of Vouchr. “Also, it brings confidence and momentum, demonstrating the value our technology can bring to other markets.”

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Rob BalahouraThe Vouchr founder adds, “together we are redefining the way Canadians engage in money transfers and look forward to making every Interac e-Transfer transaction a personalized, meaningful and enjoyable experience.”

This transaction comes as Interac has been in business for 40 years and continues to invest in the Canadian fintech ecosystem as it works to build an accessible and secure digital economy for all Canadians. It acquired the Interac 2Keys Corporation in 2019 and will acquire the exclusive Canadian rights to SecureKey's digital verification services in 2021.

Interac Corp. about

Interac enables Canadians to make secure digital transactions by providing payment and value exchange services. Helping to develop the future of money and data Canada, safety is at the heart of everything we do. We help keep Canadian customers safe and secure during their transactions. With nearly 300 financial institutions connected to our network, Canadians choose Interac products to exchange money on average more than 20 million times a day. Interac champions workplace culture, community and corporate citizenship. We are proud to be one of Canada's leading and most trusted financial brands.

Visit In The Know for more information.

Voucher Ltd. about

based on Toronto, Vouchr offers an engagement platform that transforms everyday transactions into unique gift moments, enhancing the money transfer experience. With Vouchr, consumers and businesses can add a personal touch to their transfers and rewards, making every exchange meaningful and enjoyable. Vouchr is committed to innovating to meet the evolving needs of its customers and serves a diverse customer base, including remittance and domestic remittance companies, gift card marketplaces and e-commerce.

Visit their website at https://www.vouchrtech.com/.

SOURCE Interac Corp.

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