Interac expanding e-transfer service, Wealthsimple to join
BNN Bloomberg
Interac Corp. is broadening the range of financial institutions that can participate in its e-transfer service, with financial services firm Wealthsimple as the first to become a new participant under the expansion.
The company, which announced provisional approval for Wealthsimple on Wednesday, said the move extends access beyond federally regulated banks and provincially regulated credit unions.
"I'm thrilled to accelerate our impact in the market by broadening access to the Interac e-Transfer service to an expanded category of financial institutions," Interac chief executive Jeremy Wilmot said in a statement.
"Financial services are evolving, and an increasing number of Canadians are using innovative new offerings. By extending our trusted product and platform to new organizations, while maintaining high security standards, we will allow Canadian consumers and businesses to confidently transact in new ways."
