Interac agrees Vouchr deal image credit: shutterstock

Interac has agreed a deal to acquire the exclusive Canadian rights to use Toronto-based Vouchr’s engagement platform. This enables users to send and receive personalised multi-media notifications along with their money transfers.

Interac intends to leverage the Vouchr platform to enable personalised notifications, rewards and merchant offerings for its product suite. It will initially roll out with Interac e-Transfer. Once integrated, Interac intends to offer customisable and engaging notifications that Canadians can use to create comprehensive e-gifting experiences.

“As Canadians show increased preference for digital-first experiences, this transaction will allow us to boost engagement on the platform while making transactions a more personalised extension of daily life,” said Anurag Kar, Head of Product, Interac e-Transfer.

“Interac e-Transfer users will be able to receive customised notifications. And send meaningful messages that feature e-cards, videos and GIFs embedded within the notification.”

Another feature, once implemented, will enable businesses in Canada to deliver company branded Interac e-Transfer notifications to employees, customers and suppliers. Payments to, from or between businesses in Canada now account for approximately 23% of all Interac e-Transfer transactions, while overall usage of the service has climbed about 12% over the last year to reach a record 1.2 billion transactions.

“This deal establishes a new chapter in Canadian money movement by integrating our engagement platform into Interac services,” added Suresh Bhat, co-founder of Vouchr. “Additionally, it brings credibility and momentum, demonstrating the value our technology brings to other markets.”

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The transaction boosts Interac’s mission to create a more accessible and secure digital economy for all Canadians. It follows Interac’s acquisition of 2Keys Corporation in 2019 and its acquisition of the exclusive Canadian rights to SecureKey’s digital verification services in 2021.