The people
What they build
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Working at Interac
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On the TechTO stage
Advertising and the Human Connection | Andrea Danovitch, AVP, Marketing and Brand at Interac Corp.
Watch on YouTube ↗Networking & Sustaining Connections | Interac
Watch on YouTube ↗Every talk is searchable — ask the archive about Interac ↗
About
Interac began in 1984 as a co-operative between Canada's largest banks so their customers could use one another's cash machines, and grew into the country's debit rail. Its e-Transfer service, launched in 2003, moved money between accounts at different banks using only an email address or phone number; the Bank of Canada designated it a prominent payment system in 2020. The two halves of the business — the not-for-profit Interac Association and the for-profit Acxsys that ran e-Transfer under licence — merged into a single for-profit company, Interac Corp., on 1 February 2018. The company reports 18.6 million transactions a day across its products and says 88 per cent of Canadians have used Interac e-Transfer. Andrea Danovitch, its AVP of marketing and brand, sat down at TechTO's MarketingTO in June 2019 to explain how a payments brand that had spent 35 years as an acceptance mark on a card reader moved to advertising built on human moments rather than transactions — including a refreshed logo made to fit a payments landscape that was itself in flux.
Backers
Not venture-backed. Interac Corp. was formed on 1 February 2018 by combining the member-owned Interac Association with Acxsys Corporation; it is owned by its financial-institution and merchant members rather than by investors.
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Quick answers
What is Interac?
It is the Canadian payments network behind Interac Debit and Interac e-Transfer, connecting more than 300 financial institutions. It started in 1984 as a shared cash-machine network built by the country's largest banks and is headquartered in Toronto.
When did Interac e-Transfer launch?
In 2003, originally operated by Acxsys under licence to the Interac brand. The Bank of Canada designated it a prominent payment system in August 2020, and Interac says 88 per cent of Canadians have now used it.
What did Interac say on the TechTO stage?
At MarketingTO in June 2019, AVP of marketing and brand Andrea Danovitch described moving Interac's advertising away from transactional messaging toward human moments, and noted the logo had been contemporised roughly seven years earlier to reflect a shifting payments landscape.